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.
Foreign ministers from a series of EU nations on Monday agreed to support the naval mission in the Strait of Hormuz. Countries such as Germany, Denmark, Italy and Greece support the mission, which is headed by France.
Shipping fund Dee4 Capital Partners, headed by Carsten Mortensen, has just settled its fifth ship acquisition, Mortensen confirms in comments to ShippingWatch.
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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.
The supply of low-sulfur oil is increasing rapidly, and the key hubs in the global shipping sector now have sufficient low-sulfur fuel oil, according to a report from the International Energy Agency.
Man Energy Solutions and a South Korean yard are two of several partners in a new project aiming to design a tanker that can sail on ammonia.
LNG shipping companies are headed for a strong 2020 before a wave of newbuilds will put a damper on the market for some years. After this, the rates could increase again, projects shipping analyst.
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.
Dee4 Capital Partners acquires yet another vessel and hires a new partner. He comes from a position at Norden, which he left last year.
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.
Norwegian shipping line Odfjell has been involved in an accident in the US, where a ship has collided with a fishing vessel. One person died, and two are reported missing.
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 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.
Höegh LNG secures financing from three of the company's banks. The funds will be used to refinance a bond loan.
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.
A large order book threatens to put a damper on LNG rates in the coming years. Greek shipowners in particular have ordered a large number of ships, new numbers show. The many orders came as a surprise to Flex LNG's CEO, he tells ShippingWatch.
Frontline will pay out millions of dollars in dividends to its shareholders in 2020, project four analysts in forecasts gathered by Norwegian media E24.
The security level for Danish ships sailing the Strait of Hormuz is now being raised. Association Danish Shipping views it as a natural step.
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.
Around 12 percent of the world's ship tonnage currently have scrubbers installed on board, reports media based on Clarksons Research. The scope is expected grow further during 2020.
Belgium's Exmar has made changes to its top management while also changing the structure to create a simpler setup.
2019 saw long-awaited positive figures at the world's largest product tanker carrier, Maersk Tankers, which has been revitalized after being sold off to the Mærsk family's holding company.
Belgian tanker shipping company Euronav aims to pay out 80 percent of its profit in dividends to shareholders. The announcement comes at a time when tanker rates are strengthening.
Brazil's Petrobras has decided to avoid the Strait of Hormuz in light of the current conflict between the US and Iran.
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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