Three South Korean shipping companies are in the process of ordering new ships at a Chinese yard for close to USD 600 million, reports Tradewinds. The orders are backed by Vale.
As China's President Xi Jinping works toward a trade deal with the US, China resumed its buying of US soybeans in a move that brings some relief to US farmers.
After stepping down in 2017 as CEO of former Rickmers Trust Management, Søren Andersen is once again heading a Rickmers-controlled company. He will now head a brand new shipping company.
The merger between Wonsild Dry and Maersk Broker Bulk Chartering will create a company that is better equipped in a broker market that faces further consolidation, says CEO. The company is already looking for new acquisitions and mergers.
The aftermath at Hansa Heavy Lift is underway less than a day after the company filed for insolvency. A new situation has emerged, says major competitor Zeamarine, which, according to ShippingWatch's sources, was previously interested in acquiring Hansa Heavy.
The financial strain on Hansa Heavy Lift has intensified, according to ShippingWatch's sources. It is currently not possible to get in contact with the multipurpose and heavy lift carrier's executive team. According to local media, an insolvency is imminent.
The next big gathering of shipping leaders in the Global Maritime Forum will take place in Singapore.
Tommy Thomsen, former Maersk top exec, has become a dominant figure at the old family-run Lauritzen shipping business with his appointment as CEO of owner Lauritzen Foundation as well as Chairman of shipping company J. Lauritzen. But is it problematic to serve in the two top positions at the same time? ShippingWatch has interviewed Thomsen.
Scorpio is now putting a figure on the number of vessels in its fleet to be equipped with scrubbers – and how many additional units are held on option.
Despite a truce, the trade war between the US and China has impacted three otherwise good quarters on the bulk market and created major uncertainty, says Nordea in an analysis. Bimco warns that the recovery is "fragile."
Who actually picks up the phone if you ask for the Head of Danish carrier Norden's office in Singapore? ShippingWatch has met one of the five people that make up the collective management team. Norden has now extended the concept.
The green transition is transforming the energy market and thus also the market for transporting coal, oil and gas. According to Wood Mackenzie, the downturn in coal transport is fairly clear, while the pattern looks different for gas in particular.
Significant legislative changes, protectionism and a frozen situation with far too many ships are just some of the challenges the shipping sector faces in the years to come. ShippingWatch delves into a new report from Danish Ship Finance.
The captain of ship Thorco Lineage, which ran aground near French Polynesia after suffering engine failure this summer, has been issued a conditional prison sentence of one year as well as a fine for his role in the accident.
Problems with a total of 14 new ships have now made dry bulk carrier Grieg file a lawsuit against DNV GL, reports Teknisk Ukeblad. The classification bureau rejects the claims.
Eagle Bulk exercises an option for an additional 15 scrubbers. This brings the shipping company's total number of ships with scrubbers to 34, says the company in a press release.
The bill for costs related to the grounding of Thorco Lineage is estimated to reach at least USD 10 million, and Thorco Shipping is currently working to get this money from two renowned bunker companies accused of having supplied contaminated bunker fuel oil.
![Birgitte Ringstad[1].jpg](https://finanswatch.dk/incoming/article11018887.ece/ALTERNATES/e/Birgitte%20Ringstad%5B1%5D.jpg)
Dry bulk carrier Golden Ocean's bottom line saw a big hike in the third quarter. Developments for dry bulk are looking good, reports management, but one segment will experience ups and downs.
Ultrabulk is part of a new study to determine whether sail technology can be used to propel dry bulk ships in the future. "We have to take an active part in developing new technology in order to meet the IMO's targets," CEO Per Lange tells ShippingWatch.
The looming trade war is not really J. Lauritzen CEO Mads Zacho's biggest concern. In fact, a combination of two different trends may become particularly toxic to the carrier, he tells ShippingWatch.
Bulk and tanker carrier J. Lauritzen's operating result came a little closer to a profit in the third quarter this year, helped along by an improved dry bulk market. Despite a looming trade war, CEO Mads Zacho expects the improvement in dry bulk to continue.
With a newly established ship management venture, Noble Chartering and its CEO Michael Nagler aim to increase the number of vessels significantly within a few years. "We are fairly aggressive in our approach," says Nagler in an interview with ShippingWatch.
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