05/12/2022at 15:44

US bank offloads shares in Frontline in dash exit

US bank divests majority of its shares in Frontline only a few days after confirming ownership in the Frederiksen-controlled tanker company.

by DANIEL LOGAN

Morgan Stanley barely announced itself as major stakeholder in Frontline before offloading the majority of its shares.

Already a subscriber?Log in here

Read the whole article

Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

Shipping once again a segment of interest to US investors
For subscribers
Frontline with capital appeal to shareholders to get merger approval
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Front page now

Maersk group head at the time Jess Søderberg, Mærsk Mc-Kinney Møller, the Queen of Denmark, Margrethe II, and Prince Henrik of Denmark in 1997 when the ship was launched. | Foto: Carsten Andreasen/Ritzau Scanpix

Container

Maersk divests historic ship – was world's biggest in 1997

The Danish shipping major has sold a vessel that was the world’s largest when completed at the Lindø shipyard in 1997.

Foto: Piroschka Van De Wouw/Reuters/Ritzau Scanpix

Ports

Port of Rotterdam expects regular bunkering of methanol by the summer

For subscribers

Tim Power, managing director and head of maritime advisors at maritime consultancy Drewry, is skeptic about Maersk's land freight ambitions. The picture is from the Marine Money conference in London in 2020. | Foto: Marine Money

Container

Drewry director eyes one central weakness in Maersk's strategy

For subscribers

Carriers

Car carriers have rarely seen such profits: "We are probably at an all-time high"

For subscribers

Container

Maersk rebrands Hamburg Süd and several other well-known subsidiaries

For subscribers

Container

Police find 4.5 tonnes of cocaine aboard freighter at Canary Islands

Drewry director eyes one central weakness in Maersk's strategy

Maersk has ended the partnership with rival MSC and faces a critical period where the carrier has to demonstrate how its logistics venture holds up. Drewry director is skeptical and predicts a tough price pressure from major forwarders.

For subscribers

Container

Maersk rebrands Hamburg Süd and several other well-known subsidiaries

Hamburg Süd will lose its company name and gradually be integrated into the Maersk brand. A number of other subsidiaries face rebranding as well.

For subscribers

Chief execs of Maersk and MSC, Vincent Clerc and Søren Toft, acknowledges that much have changed for the carriers since launching the 2M alliance. For that reason, the partnership is now ended. | Foto: Jacob Gronholt-pedersen/reuters/ritzau Scanpix og Jason Decrow/ap/ritzau Scanpix

Container

End of 2M alliance could trigger a domino effect

A new reality on freight markets and a need for fewer ties could be main reasons behind MSC and Maersk terminating their partnership. More alliance dissolutions could be coming, according to shipping analyst.

For subscribers

Latest news

See all

Jobs

See all jobs

Microsoft is in the process of discontinuing Internet Explorer – and so are we.
For a better experience, we recommend using one of the following browsers.

Kind regards,
ShippingWatch

US bank offloads shares in Frontline in dash exit

Read the whole article

With your free trial you get:

Get full access for you and your coworkers

Related articles:

Shipping once again a segment of interest to US investors

Frontline with capital appeal to shareholders to get merger approval

Sign up for our newsletter

Front page now

Maersk divests historic ship – was world's biggest in 1997

Port of Rotterdam expects regular bunkering of methanol by the summer

Drewry director eyes one central weakness in Maersk's strategy

Car carriers have rarely seen such profits: "We are probably at an all-time high"

Maersk rebrands Hamburg Süd and several other well-known subsidiaries

Police find 4.5 tonnes of cocaine aboard freighter at Canary Islands

Further reading

Drewry director eyes one central weakness in Maersk's strategy

Maersk rebrands Hamburg Süd and several other well-known subsidiaries

End of 2M alliance could trigger a domino effect

Latest news

Jobs

Jobs