The past week on ShippingWatch was characterized by the unveiling of the concept plan for the giant Johan Sverdrup field, the potential for a Danish scrapping industry, and the continuing dispute about the Panama Canal extension.
Danish clean-tech company Nord eyes a potential for big business in shipping after completing the massive cleaning job on container ship MSC Flaminia. That job alone was worth more than USD 18 million.
The partners behind the giant North Sea oil field Johan Sverdrup, including Statoil and Maersk Oil, unveiled the long-awaited concept plan this week, outlining how the field will be developed. Production is expected to start in late 2019.
The budget dispute between the Panama Canal authority and the Spanish-led building consortium GUPC continues. Panama Canal authority administrator Jorge Quijano (photo) called for insurance company Zurich America to inject USD 400 million, in order to help the parties reach agreement. The extension project has gone USD 1.6 billion over budget.
The major German shipping banks HSH Nordbank and Commerzbank are working hard to reduce their exposure to shipping. HSH Nordbank is preparing to sell portfolios. Commerzbank is three years ahead of schedule and raises its ambitions.