Torm looking for new CFO
Danish tanker carrier Torm's CFO Christian Søgaard-Christensen has expressed a wish to resign, and the carrier has thus started looking for a replacement for the position.
ShippingWatch
A part ofWatch Medier
Danish tanker carrier Torm's CFO Christian Søgaard-Christensen has expressed a wish to resign, and the carrier has thus started looking for a replacement for the position.
![Birgitte Ringstad[1].jpg](https://finanswatch.dk/incoming/article11018887.ece/ALTERNATES/e/Birgitte%20Ringstad%5B1%5D.jpg)
A surprisingly weak fourth quarter for dry bulk does not necessarily imply a weak 2019. Rather, the chief executives of Norwegian dry bulk carriers Golden Ocean and Klaveness eye a much stronger year ahead, they tell ShippingWatch.
The world's biggest buyers of liquefied natural gas could quadruple demand by 2030, predicts consultancy company Wood Mackenzie in new report. Especially one country contributes to the growth.
Are the surging tanker markets in recent weeks the de facto proof that the optimists were right and that the much-anticipated recovery emerged in 2018? Yes, says Scorpio Tankers, while major competitor Maersk Tankers says: No.
Scorpio Tankers sees a huge jump in product tanker rates over the last one-and-a-half months. The company's CEO and chair expects that the market will improve in the new year.
OPEC decision to cut output will only have limited impact on the tanker market, according to Morgan Stanley and Clarksons Platou. Several factors will provide stability for the market.
One of the world's major commodity traders, Trafigura, which has tanker shipping companies such as Maersk Tankers and Norden among its customers, eyes a challenging 2019 characterized by lower economic growth.
While several tanker ship operators such as Euronav, DHT and Tsaksos Energy Navigation are generally positive about the next 18 months, future environmental regulations loom on the horizon. But the sulfur regulations are expected to create more business starting already next year.
Access to the Strait of Hormuz, a key chokepoint for the global oil trade, could be shut down if the US blocks Iran's oil export, threatens the Iranian president.
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.
The mergers and acquisitions in product tanker are being watched closely by Torm, where Executive Director Jacob Meldgaard is open to "potential opportunities," he tells ShippingWatch.
More ports will ban open-loop scrubbers, project Torm and DHT Holdings after the news that Singapore will ban ships from using open-loop systems in the port's area.
Acquisitions feature prominently in the strategy, says the CEO of the new major product tanker player Diamond S Shipping, who believes in an imminent recovery despite a "dreadful summer."
Gas carrier Höegh LNG increased both its top- and bottomline in the third quarter of the year. The LNG market continues to move in the right direction, estimates the carrier.
Product tanker has turned and the recovery is happening. But it is too soon to say whether it sticks, Paolo d'Amico tells ShippingWatch. The Italian carrier's chairman points to the coming sulfur cap as key driver.
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.
Diamond S and Greek-based Capital Product Partners will merge their tanker fleets in a billion dollar transaction to create one of the world's largest product and crude oil carriers.
A "significantly stronger" market for crude oil tankers, a low oil price and reduced stockpiles form the basis for Norden's decision to buy two ships, says CEO.
Africa appears to be headed for an LNG boom, driven by factors such as surging in global demand. Floating LNG terminals help attract investments and boost enthusiasm for gas projects in the region.
A fleet expansion for around USD 1.5 billion may sound like a lot. But the price for the 35 tankers headed for Trafigura's fleet is so low, that it is hard to doubt the upside, the commodity trader's Global Head of Wet Freight, Rasmus Bach Nielsen, tells ShippingWatch.
The Irish tanker carrier points to increasing MR rates in the fourth quarter, but a real recovery is not expected until late next year, says CEO Anthony Gurnee to ShippingWatch, contradicting announcements from Torm and Concordia Maritime.
Hafnia Tankers doubled its deficit in the third quarter, a period described by several product tanker operators as historically weak. Rates are looking stronger in the fourth quarter, reports Hafnia Tankers.
Following several ship sales this summer, the Bermuda-based tanker ship operator now finishes the year with another sale of ships, netting USD 20 million.
The US government has issued a new warning to the shipping industry to not violate the recently reintroduced sanctions by, for example, sailing Iranian oil to Syria. At the same time, the US also introduces new sanctions against nine Iranian targets.
Following breaches of several bank agreements, Nordic Shipholding has reached an agreement with its lenders, says the company in its report for the third quarter, which brought yet another deficit.
Shipping Trainees - Clipper
Director for Lederne Søfart
Shipping Trainee - TORM
Research analyst - Navigare Capital
Operations Manager in Ultrabulk
Operations Manager - Hafnia Management
NORDEN is expanding and looking for the traders of tomorrow
