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Tanker

Concordia Maritime opts for pan-Nordic business set-up

Tanker shipping company Concordia Maritime moves its operations from Sweden to Denmark, although CEO Kim Ullman stays in Gothenburg. The next move could be a listing on the Oslo Stock Exchange. ShippingWatch has interviewed Ullman about the new set-up.

Sudden rate dive in tanker makes investors nervous

Tanker rates are down almost 50 percent on some routes, and this creates nervousness among investors. However, a shipping analyst and the CEO of a shipping company downplay the development. The market is still the best in years, they say.

Hafnia's listing becomes investors' test of shipping shares

How the market develops in the coming years could be decisive for investors' interest in shipping, says Hafnia CEO Mikael Skov. As such, the listing of the tanker ship operator's shares becomes a test of whether capital will still find its way to shipping.

Torm settles its finances: "This means a lot to us"

Torm has spent the past six months settling its new credit facility with a large consortium of European shipping banks. "We get a liquidity that will be manageable for the next many years," CFO tells ShippingWatch.

Torm secures major refinancing

Torm obtains major refinancing with a number of leading shipping banks and now has no major debt maturities due until 2026, the shipping company informs in a press release.

Maersk Tankers introduces worldwide paternity leave

Maersk Tankers introduced earmarked parental leave for new fathers from the turn of the year. The initiative is part of the shipping company's strategy to create a better gender balance, explains chief HR officer.

Sulfur rules generate differing ship speeds

The new sulfur regulations have not only manifested themselves in a price spread between high- and low-sulfur fuels. There is also a difference between vessels' speeds, depending on whether or not a ship is equipped with a scrubber, according to shipbroker.

Norwegian marine insurer worried about conflict

The conflict between the US and Iran raises concerns at Norwegian marine insurer DNK, reports Reuters. The company expects to see rising premiums on war risk insurance for ships in the Strait of Hormuz.

New tanker company listed on mini-exchange in Oslo

A tanker carrier named Empire Product Tankers issues a small number of shares on minor stock exchange Family & Friends, which files under the Oslo Stock Exchange. The company holds the rights to eight chemical tanker newbuilds. It is unknown who is behind the venture.

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