The coronavirus pandemic is paralyzing the market for VLCC supertankers, and the result is likely to be a surge in scrapping of the large vessels on the beaches in Southeast Asia.
Martin Fruergaard becomes the third Nordic CEO to head Hong Kong-based dry bulk shipping company Pacific Basin since 2000. Why has the company again picked a Scandinavian? And why Fruergaard, the chief executive of a gas ship operator?
Peninsula Petroleum expands its bunker business in North Europe with a new supply location in Skaw, Denmark.
Shippers sending the cheapest goods are hit the hardest by the towering container rates. There are too few containers and too little space on the ships, and shippers with "high-value" commodities will push those with "low-value" goods aside, writes Sea-Intelligence.
The EU has informed European shippers and freight forwarders that the container lines' currently huge price increases are not enough to launch an investigation into competition conditions. But the EU would like to discuss the market situation with competition authorities in the US and China, says European Shippers' Council.
Cosco-owned OOIL raises USD 120 million through a share issue. The money will be used to finance ships currently under construction, and to buy containers.
The pirate attack Saturday on container ship MV Mozart in the Gulf of Guinea took a violent turn, informs security firm Dryad Global: One crew member was allegedly killed and 15 kidnapped by the pirates.
Shipowner Seaspan makes its debut on the Nordic bond market, bringing in USD 200 million in fresh capital. The funds come from Seaspan's issuance of so-called sustainability-linked bonds.
A removable electric bow is now in operation on a tug boat in Finland in a pilot project testing the efficiency of the technology. The bow can potentially turn ice-strengthened vessels into icebreaker vessels for the winter season.
Civil rights movement Black Lives Matter raised a difficult dilemma for Uffe Østergaard, president of Hapag-Lloyd America, in 2020 and constituted a greater leadership challenge than the coronavirus pandemic. Should he address it internally in the organization or not?
Freight forwarder DB Schenker is yet again transporting goods from the EU to the UK after customs difficulties led the company to temporarily halt its service. Meanwhile, DHL suspends some of its freight modes in the other direction due to challenges.
Shipping line MSC was able to deter what could have presumably developed into a pirate attack. A boat was approaching an MSC container ship, but a warning shot made it turn away. The crew is safe.
Franck Kayser steps down as CEO of V.Group's ship management activities to instead serve as managing director of the company's Danish business. V.Group has found his replacement at rival.
Organizations Rightship and Intercargo have joined forces to create new industry standards. A newly founded NGO will work to enforce the standards in safety, environment and operations, which are also supported by the International Chamber of Shipping.
Hotel rig operator Prosafe, which is still in talks with creditors for a rescue plan, has now entered a compensation agreement with an oil company after a canceled contract.
If the pirates in the Gulf of Guinea are to be dealt with, seafaring nations must band together and copy the almost ten years old approach from the Gulf of Aden, says Maersk's head of safety. Security analyst agrees. Maersk has reached out to Hapag-Lloyd and CMA CGM.
For the second time in just a short period, a container ship has lost a large number of containers in the Pacific. A Maersk ship is the latest example, and the incidents are noteworthy, says shipping analyst.
Maersk is one of several large Danish companies that are now examining the options for vaccinating its employees working outside Denmark.
Tanker operator Alba Tankers, which was created out of OW Bunker's dramatic collapse, has added millions of dollars to its bottom line, shows annual report. In recent years, the shipping company has bought new ships and increased its workforce by almost 100 people, executives tell ShippingWatch.
Large dry bulk ships have in the past month seen earnings grow, surpassing more than USD 25,000 per day per ship. This is more than five times what supertankers are currently making.
Employees at the US' two biggest - and currently extremely busy - ports should be moved forward in the vaccination programs, so that the ports are not at risk of shutting down, say several politicians in the US.
A network of oil trading firms have now been sanctioned because it, according to the US authorities, has helped state-owned Venezuelan oil company PDVSA selling oil worth hundreds of millions of dollars.
750 containers went overboard on one of Maersk's container ships. Harsh weather in the north Pacific is blamed. ONE also recently lost containers in the Pacific.
Will Joe Biden's presidency benefit shipping or will his influence be minimal? ShippingWatch asks several executives from major container, tanker and dry bulk companies what they think, and their answers show that opinions differ.
Cyprus will lower its tonnage tax significantly for shipping companies that are working to reduce their carbon emissions.
Data Engineer - Ultrabulk
Market Research Analyst – Ultragas
