Shipping shares plummet on the New York Stock Exchange

Black Monday for tanker and bulk shares on Wall Street, where investors do not share the view that the low oil price brings increased demand in the global shipping industry. Massive declines across tanker and dry bulk Monday night.

BY OLE ANDERSEN

Shipping shares on Wall Street were hammered down across the board on Monday, which brought double-digit drops on a day marked by investors' concerns about the consequences of the low oil price.

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Foto: Peter Hove Olesen/Politiken/Ritzau Scanpix

Tanker

Maersk sells part of its business with the US government

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"As an SME – as we still like to call us today – and with the customers we are serving globally we really need to latch on and grow substantially to stay relevant to our customers," says Constantin Conrad, CEO, Leschaco Group. | Foto: Leschaco

Logistics

German logistics company wants to grow 250 percent by 2030

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Regulation

Lynn Loo urges shipping to take steps outside its comfort zone

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"The biggest challenge for the green transition in shipping is the supply of green fuel, and more initiatives like these are needed," Morten Bo Christiansen tells ShippingWatch. | Foto: Maersk Pr

Container

Maersk praises Cosco's plans to move into green methanol

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Foto: Shannon Stapleton/Reuters/Ritzau Scanpix

Tanker

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Norden's contract in Gabon runs for ten years and requires the shipping company to invest around DKK 280m. | Foto: Magnus Møller

Bulk

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German logistics company wants to grow 250 percent by 2030

The third generation of the family behind Leschaco wants to grow the company, and fast. Leschaco needs to grow significantly, says the CEO.

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Regulation

Lynn Loo urges shipping to take steps outside its comfort zone

The CEO of Global Centre for Maritime Decarbonisation believes the shipping industry must be ready to take a little more risk to achieve its climate goals.

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Tanker

Maersk sells part of its business with the US government

Maersk has sold a subsidiary that provides transportation services for the US Navy. The business covers a handful of tankers.

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Container

Maersk praises Cosco's plans to move into green methanol

”More initiatives like these are needed,” says Morten Bo Christiansen from Maersk, which has 25 methanol-powered ships in the pipeline.

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The legal dispute centers on the cancellation of orders by Northern Drilling's two subsidiaries for two deepwater rigs at the Hanwha Ocean shipyard.

Offshore

Fredriksen company loses legal dispute with shipyard

Major South Korean shipbuilder Hanwha wins an arbitration case against John Fredriksen-controlled Northern Drilling regarding a cancelled order for two deepwater rigs.

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Bulk