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Profit declined for Maersk Broker in 2019

Maersk Broker reports a profit of DKK 43.4 million for 2019 compared to DKK 55 million the year before. The corona crisis generates considerable uncertainty as to the 2020 result, which is, however, expected to finish in line with last year.

One third of HMM's ships are idle

11.6 percent of the global container fleet were inactive at the end of May. HMM in particular has many ships lying idle, reports analyst firm Alphaliner, which does point to signs of improvement.

Greek ships hit by US sanctions against Venezuela

Four tanker ships with ties to Greece have been blacklisted by the US for sailing with oil from Venezuela. According to a ship database, the ships are ultimately controlled by several well-known Greek shipowners.

X-Press Feeders reduces fleet by up to 20 percent

Singapore-based X-Press Feeders foresees a dive in activities and has scaled down its fleet by up to 20 percent to address the impact of the coronavirus. In the long term, growth ambitions remain intact, COO Francis Goh tells Shippingwatch.

Golden Ocean projects increased scrapping of capesizes

The number of capesize vessels scrapped in the first quarter is already about surpass the full year 2019. Golden Ocean expects that more will be scrapped this year. However, an improvement in rates is expected to slow the scope of scrapping, according to Bimco.

Thorco's shipowning ended in bankruptcies and million-dollar claims

Thorco bought a lot of ships from its rivals after the financial crisis. But the market never recovered, and now the gamble has resulted in bankruptcies, large claims and a loss of DKK 1 billion. There was no other way out, says Thor Stadil, who has stepped down as chairman.

DFDS gets sizeable wage compensation from Danish state

DFDS has been approved for wage compensation totaling almost USD 6 million during the coronavirus crisis, in which the shipping company had to send employees home and pull several ships from operations. Other maritime companies are also on the list.

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