Japan's MOL earlier this week heralded extraordinary losses from factors including a loan to Gearbulk. "We are not in default on the loan," the dry bulk company's managing director tells ShippingWatch.
J. Lauritzen is infused with fresh millions by owner Lauritzen Fonden after booking another deficit for 2019. The funds will bolster the company for the uncertainty created by coronavirus in 2020, CEO Mads P. Zacho tells ShippingWatch.
Though the coronavirus outbreak is prominent both in daily life and in media across the world right now, the increasing fleet influx of capesizes is proving a bigger challenge for dry bulk carriers than the corona situation, assesses Danish Ship Finance.
A number of ports have implemented 14-day quarantines for ships coming from corona-stricken countries. The risk of more ship days makes it difficult to close new deals, XO Shipping and Delta Corp tell ShippingWatch.
Coronavirus and a dispute over the oil price between Saudi Arabia and Russia triggered significant price drops on stock exchanges in the past week. Danish and Norwegian shipping and offshore shares also took a tumble. But one sector in particular saw share prices going up.
Five Japanese shipping companies and a Japanese bank are among those who have filed claims totaling DKK 161 million against the Stadil family's TS Chartering, which went bankrupt last year. But the creditors should not expect much, says liquidator.
Norden delivered its best quarterly result in almost five years with an adjusted profit of USD 31 million in the fourth quarter. The shipping company expects a higher result for 2020 as a whole despite uncertainties triggered by the coronavirus.
Dry bulk carrier Pacific Basin expects a major recovery on the bulk market once the coronavirus is contained. CEO is confident in China but acknowledges that it will require patience. He says the shipping line has taken precautionary measures at its headquarters in Hong Kong.