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.

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

Further reading:

Thomas Thune Andersen new Chairman of Dong

DFDS rival lost EUR 22 million on the Channel

Allianz: New mega ships coming in a few years

EU Parliament abandons plan to liberalize ports 

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