This week's top stories on ShippingWatch

11 small parcels from North Korea were transported by a Maersk company, reported ShippingWatch this week. Other stories include the prospect of tariff barriers and a police report filed against Maersk Supply Service.

Teekay Tankers opts for distillates to meet sulfur requirements

Major tanker carrier Teekay Tankers has announced that it will sail on distillates in order to comply with the international sulfur requirements when they come into force on Jan. 1, 2020. A large part of the world's carriers have yet to decide how to approach the sulfur cap.

Torm delivers full-year profit in challenging tanker market

Product tanker shipping company Torm achieved a pre-tax profit of USD 3 million in 2017. But the product carrier is still waiting for a recovery. "The market fundamentals are in place," Executive Director Jacob Meldgaard tells ShippingWatch.

Norden CEO: Dry bulk is above water once more

Dry bulk saw a strong finish to 2017, and the market is now "clearly in a better place" with a fast-paced global economy and low fleet growth, says Norden CEO Jan Rindbo to ShippingWatch. The Q4 operating result disappointed analysts.

Norden delivers USD 28 million profit for 2017

Danish dry bulk and tanker shipping company Norden finished 2017 with its first full-year profit since 2011. The adjusted profit came to USD 28 million. Norden expects a new profit for 2018.

European refineries first in line for US shale boom

The US is on its way to becoming the biggest oil nation in the world in 2023, but the country's refineries do not have the capacity to handle the many new barrels of oil. Europe in particular could become a major buyer of US shale oil, says Wood Mackenzie.

Frontline books large deficit for 2017

2017 was a tough year for crude oil tankers, and this is clearly reflected in the annual report from Norway's Frontline. The challenges in 2017 could turn into an advantage by the end of this year, says CEO Robert Hvide Macleod.

J. Lauritzen lost USD 45 million in 2017

Denmark's J. Lauritzen lost USD 45 million in 2017, almost in line with the year before. The carrier expects a better result this year, though still not satisfatctory. And a potential recovery could be muted.

Teekay Tankers expects rate recovery towards 2019

Canadian tanker carrier Teekay Tankers reduced its deficit in the fourth quarter and for the full year in a market where factors such as OPEC's output cap led to lower rates than normal. Scrapping may trigger a recovery in rates by the end of the year, says CEO.

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