ShippingWatch

This week's top stories on ShippingWatch

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.

Denmark as a scrapping giant

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.

Container ship cleaning cost more than USD 18 million

Nord: Danish scrapping could have significant brand value

Johan Sverdrup concept plan unveiled

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.

Concept selection ready for Johan Sverdrup

Aker bottom line strengthened by Sverdrup order

Panama Canal dispute continues

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.

Container carriers hit hard by Panama dispute

Panama Canal needs USD 400 million cash injection

 

German shipping banks

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.

HSH Nordbank eyes continuing weak shipping climate

HSH Nordbank preparing to sell shipping loans 

Commerzbank achieves shipping reduction three years early

P3 developments

The US Federal Maritime Commission, FMC, is nearing a decision, but US interests are divided about the coming P3 alliance.

Media: P3 alliance headed for US approval

P3 alliance divides US interests 

Annual reports

Norwegian floatel provider secures record order volume

Nordic American Tankers lost more than expected

Wilh. Wilhelmsen benefits from more cars on the roads

Ardmore doubles operating result

 

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