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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Hapag-Lloyd: New BAF will break with old policies

A new bunker adjustment factor at Hapag-Lloyd will help ensure two things, explains Juan Carlos Duk, managing director of global commercial development, to ShippingWatch. The BAF will very much address longstanding criticism from customers.

No supertanker orders in the third quarter

Higher prices and concerns over the order book have meant that the number of new orders for the major VLCC vessels in the third quarter landed at zero, writes JP Morgan in a new report.

DP World looking at Eritrea as a way to sidestep Djibouti troubles

Arabian port major DP World is considering investing in Eritrea as a possible key destination at the Horn of Africa, says CEO. Eritrea could thus become an alternative to Djibouti, where the company is in a dispute with the government concerning a terminal concession.

Aker BP reaches revenue of one billion dollars

Norwegian Aker BP achieved a revenue of one billion dollars in the third quarter and a combined result of USD 123 million after taxes, shows the interim report for the quarter. Rising oil and gas prices boosted the result.

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