Bunker Holding closes subsidiary's London office after tough year
A rough and unusual year means that Bunker Holding will have to make cuts to some of its services, now closing the London office of LQM Petroleum Services, a subsidiary of Bunker Holding. Activities will instead transfer to a US office.
The current tanker market is catastrophically poor with unprecedented low rates in the otherwise attractive winter months, Norden CEO Jan Rindbo tells ShippingWatch. That is why he projects that Norden's earnings will almost halve in 2021, compared to 2020's record result.
Despite a strong second half-year, Kuehne + Nagel's container volumes declined overall in 2020. Sky-high demand and container shortages have led the logistics company to focus on its "key customers" during the pandemic, says CEO Detlef Trefzger.
A series of shipping companies including DFDS and Klaveness, as well as commodity trader Trafigura, call on the EU to bet on ammonia and hydrogen as the marine fuels of the future. LNG and biofuels emit too much CO2, they say.