This week's top stories on ShippingWatch

Several banks pulled out of Torm, which was again forced to sell ships, while Norden presented a slightly weaker result than expected, and the NOx decision moves closer.

BY KATRINE GRØNVALD RAUN

Torm and the banks

Danish Ship Finance pulled out of Torm, and the carrier is once more forced to sell ships to Oaktree Capital. Nordea also wanted out, though the bank did not gain much:

Danish Ship Finance forces Torm to sell 13 ships

Stock exchange watching Torm closely

Nordea sold its Torm debt at a low price

NOx decision approaching

On March 31st, the IMO's Marine Environment Protection Committee will start a series of meetings lasting the full week, and one of the major hurdles will be the NOx debate, and whether the 2016 implementation date is postponed or not:

EU abandons joint stance on NOx ahead of IMO summit

Shipowners meet Russians halfway on NOx rules

Europe's biggest ports support NOx regulations from 2016

Will Russia succeed in postponing the NOx regulations?

Norden stumbled in the 4th quarter

2013 became a year for investments, not profits, as Norden CEO Carsten Mortensen said after the carrier published its annual report for 2013:

Norden suffered USD 48 million deficit

Norden to gear investments in new strategy

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”We are able to deliver the technologies very quickly, ahead of fuel availability, and at a competitive price. So we are definitely not a bottleneck,” says Toni Stojcevski, general manager, Project Sales & Development at Wärtsilä, | Foto: Sune Høegh, Mediaspektrum

Suppliers

Wärtsilä to introduce ammonia engine: "We are definitely not a bottleneck"

The Finnish company, like several other engine manufacturers, is on the verge of launching its first ammonia engine and is currently negotiating with several shipping companies.

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Rising fuel prices in France in 2018 led to demonstrations and the "Yellow Vests" movement. | Foto: Jacob Ehrbahn

Regulation

Will the world come to need 12 million barrels of oil a day?

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”Our focus is on working with our clients to help them to a greener, more sustainable mari:me future through the energy transi:on to net zero once the fuels, ships and technology are available at scale,” says Michael Parker, chair of the Poseidon Principles. | Foto: Global Maritime Forum

Regulation

Poseidon Principles align with IMO climate targets

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Carriers

Royal Arctic Line's chief executive steps down

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John Fredriksen was born in Norway but holds a Cypriot passport. | Foto: Ints Kalnins/Reuters/Ritzau Scanpix

Tanker

Broker sees benefits in Fredriksen's possible purchase of rival's tankers

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Maersk and Hapag-Lloyd are the first of the major shipping companies to give their take on how the new CO2 quotas will affect their prices. | Foto: Jacob Gronholt-Pedersen/Reuters/Ritzau Scanpix

Container

Carriers go their separate ways on climate quotas

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Russia takes more risks by increasing shipping on Arctic route
Russia does not have enough ice-class ships, and oil spills from tankers in the area will be difficult to handle, according to shipbroker Poten and Partners.
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Everfuel and French fund to invest EUR 200m in hydrogen through joint venture
The new joint venture will focus on developing electrolysis capacity in the Nordics to deliver hydrogen as a green fuel to the European market.
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Gram Car Carriers lands multi-year contract worth USD 114m
The vehicle carrier’s new contract is for the Viking Queen, which can accommodate approximately 7,000 cars.
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Mississippi River waters dip toward record low in threat to US crop exports
Transportation of grain and soybeans on the Mississippi River is once again complicated by extraordinarily low water levels.
Seven Seas: Customers' green ambitions and actions don't align
Seven Seas’ customers want to reduce plastic onboard ships but do not order the alternative product. The ship supplier’s CEO sees only one logical explanation.
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Venture fund in Singapore wants increased business focus from start-ups
Nicklas Fursund is one of the partners in Motion Ventures, which has several well-known investors on board. He believes that entrepreneurs think too little about business.
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Carriers go their separate ways on climate quotas

Maersk and Hapag-Lloyd have different estimates of how much customers will have to pay for the EU’s new CO₂ allowances. ”It will be a big mess,” writes Sea-Intelligence.

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Suppliers

Wärtsilä to introduce ammonia engine: "We are definitely not a bottleneck"

The Finnish company, like several other engine manufacturers, is on the verge of launching its first ammonia engine and is currently negotiating with several shipping companies.

For subscribers

The price will determine whether the sale of DB Schenker will go through, sources tell DPA. | Foto: Marvin Ibo G'ng'r/AP/Ritzau Scanpix

Logistics

Media: Sale of DB Schenker enters next phase

After a long period of scrutiny, Deutsche Bahn is ready to pursue a sale of the major freight forwarder DB Schenker, report German media.

For subscribers

Casper Ellerbæk has a professional background at competitor Kuehne + Nagel. | Foto: Dhl / Pr

Logistics

It's time for DHL's new global head of ocean freight to prove he can be number one

PROFILE: People familiar with the new chief executive of DHL Global Forwarding are not surprised by the appointment after a career that has gone in a straight line up.

For subscribers

Regulation