High rates provided Teekay Tankers with a profit in the fourth quarter, however, it is not enough to fix the whole year, which ended with an aggregate deficit. 2019 started well but has since gone downhill.
CEO Søren Skou thinks Maersk has a problem with earnings. And the rising oil price, an unpredictable US president and lower global growth in 2019 will only counteract the chief executive's important task of increasing operating earnings.
One of China's largest port operators has banned coal imports from Australia. Customs declarations on Australian coal have practically doubled in several other Chinese ports, so processing times have grown to at least 40 days.
Danish shipping group Maersk has increased its investment in scrubbers, despite the fact that CEO Søren Skou categorizes the technology as a "foolish idea."
South Korean container carrier HMM's CEO, CK Yoo, will step down from his position as chief executive next month, informs the departing CEO in an e-mail to his colleagues.
The Maersk Group has seen a tailwind in its container business, in which both revenue and operations improved in the fourth quarter. Søren Skou does not think the full-year revenue is satisfactory.
The Maersk Group has now set a date for the long-awaited listing of Maersk Drilling. The drilling company will be listed on April 4.
Navios Maritime Holdings impairs its fleet by USD 136 million. However, operations improved significantly in 2018, says chairman Angeliki Frangou.
The search team, which located Stellar Daisy's wreck a little under a week ago, has now found remains from some of the 22 crew who perished.
A coalition of shipping companies criticizes EU member states' call for changing the regulations if studies show wash water from scrubbers harms the marine environment. The IMO will discuss the issue Wednesday.
Maersk is looking to compete on an equal footing with DHL, UPS and FedEx. It will likely not be that easy, says the CEO of DHL Express, who declines to collaborate with the shipping group.
After 15 years, Singapore-based shipping line PIL is withdrawing from the important trade route between Asia and Europe. This will not resolve problems with overcapacity, says Alphaliner.
Nordic American Tankers was still losing money in the fourth quarter of 2018, but the result was noticeably improved compared with the third quarter. The year ended in a large deficit.
Tanker shipping companies fought their way through a 2018 that hit rock bottom. At Swedish Stena Bulk, the year was spent on preparing for better markets, while the company launched a new venture, CEO Erik Hånell tells ShippingWatch.
DP World has entered an agreement to purchase P&O Ferries, which operates ferry services on the English Channel in competition with DFDS. The Dubai-based company thus continues its acquisition spree following its takeover of Unifeeder.
It is not so much rates, overcapacity, lower global growth or trade war that keeps Maersk's CEO Søren Skou up at night in 2019, rather it is a question of approximately USD 200.
Credit rating bureau Moody's upgrades Hapag-Lloyd's rating by a notch due to the German liner company's reduced debt and projected stable results.
The head of Qatar Petroleum, who also serves as the country's energy minister, confirms Qatar's plans to order as many as 60 new LNG ships. The country is looking toward Asian shipyards for starters.
Two yard workers were killed Monday during the scrapping of a Greek tanker vessel which caught on fire at the Chittagong beach in Bangladesh, reports Shipbreaking Platform. It is time for the Green government to intervene, says the NGO.
Golden Ocean booked a profit in the fourth quarter but is currently navigating in an uncertain dry bulk market, in which the Vale accident has made an impact. Sentiment is negative, says CEO Birgitte Vartdal.
European shipping companies have a special responsibility to improve conditions for the environment and workers at the much-maligned beaching yards in South Asia, says the EU's maritime affairs commissioner, Karmenu Vella.
Finnish feeder carrier Containerships, owned by CMA CGM, has downgraded its EBITDA forecast for this year. Investments in new LNG vessels have contributed to the reduced projections.
Just over one month after acquiring Nordic Tankers, Japanese MOL Chemical Tankers has continued on its shopping spree. This time, the company has purchased shares in and has entered a partnership with a Dutch logistics firm.
The container producers are losing upwards of USD 200 every time they send a new dry container into the market, according to a new study by Drewry. Maersk recently shut down two factories, though the shipping line and its peers could benefit from the development.
Danish Ship Finance is currently in talks with several compatriot pension funds concerning possible partnerships, in which the pension funds supply a portion of credit to selected shipping companies, ShippingWatch gathers.
Lauritzen Bulkers seeks Senior Chartering Manager
Chartering Manager: MUR Shipping Denmark A/S, Rungsted
Head of Research for International Shipping Company - J.Lauritzen
Operations Manager: MUR Shipping Denmark A/S, Rungsted
Chartering Manager - Nachipa
Vetting Manager - NORDEN
Senior Market Research Analyst in UltraBulk
Bunker Trader Trainee, Kaliningrad - Dan-Bunkering
Head of the Bulk business area - Rønne Havn
Treasury Risk Manager with focus on cash management - Bunker Holding
