ShippingWatch

This week's top stories on ShippingWatch

Norway's Government Pension Fund Global blacklisted carriers for using beaching yards, the new ECSA chairman presented a notable new proposal, Norden raised its forecast and Maersk established a company with IBM. These were all among this week's top stories on ShippingWatch.

Photo: /ritzau/AP/Adil Shakil

Several carriers are now being penalized for scrapping their vessels on beaches in South Asia under hazardous conditions for workers and the environment. The world's largest largest investment fund, Norway's Government Pension Fund Global, has blacklisted five carriers for using beaching yards, where vessels are sailed directly onto the beaches in the tidewater zone and dismantled there.

 

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Why the Norwegian oil fund blacklisted carriers for beaching

Shipowners support blacklisting of carriers for beaching

 

New ECSA chairman: Slow down

A speed limit for ships is a quick and efficient way to reduce shipping's pollution, says the new chairman of the European Community Shipowners' Association, ECSA. In an interview with ShippingWatch, Panos Laskaridis explains that a speed limit would reduce greenhouse gas emissions significantly.

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New ECSA chairman on speed limit for ships: "It would work wonders"

Nordic shipowners see multiple problems with speed limit

 

Maersk and IBM launch new company

Maersk Group and IBM announced Tuesday that they plan to establish a joint venture. "The aim of the new company will be to offer a jointly developed global trade digitization platform built on open standards and designed for use by the entire global shipping ecosystem. It will address the need to provide more transparency and simplicity in the movement of goods across borders and trading zones," they wrote.

Maersk and IBM to launch blockchain joint venture

Why Maersk did not choose Copenhagen for new firm's HQ

 

Norden heads for first profit in six years

Six years have passed since Norden last delivered a profit on the bottom line in 2011 – but the carrier announced Tuesday morning that Norden will return to a positive bottom line for 2017. "This is a major move for us, when we think about where we're coming from with years of losses," says CEO Jan Rinbdo.

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Norden raises profit guidance for 2017

English Edit: Gretchen Deverell Pedersen

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Denmark criticizes South Korea's maritime state subsidies

South Korea is planning extensive state subsidies for shipbuilders and carriers, and the Danish Minister for Business describes these plans as problematic. "It tips the balance on the market. This is why we're pushing to have the OECD review state subsidies to shipbuilders," he tells ShippingWatch.

Maersk Line explores using LNG for its fleet

Even though Maersk Line has stated clearly that low-sulfur fuel is the answer to the global 2020 sulfur cap, the liner company is actively looking into LNG as a fuel alternative, COO Søren Toft tells ShippingWatch. LNG is becoming more financially attractive, he says.

Pioneer Marine aims for profit after turbulent year

Dry bulk carrier Pioneer Marine, which in September brought in former J. Lauritzen CEO as new chief executive, delivered a fourth quarter profit. The carrier is now aiming for a full-year profit in 2018, Janholt tells ShippingWatch.

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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