Last week's top stories on ShippingWatch

Interim reports from Nordic Tankers, Herning Shipping, Dannebrog and Thorco, a new low in the container industry, and Paddy Rodgers of tanker carrier featured among the top stories this week on ShippingWatch.

BY OLE ANDERSEN

Challenged carriers

First quarter interim reports from several carriers this week revealed various financial challenges for the companies and their owners.

Swedish fund pumps millions into Nordic Tankers

Stena in big profit after Helsingor-Helsingborg sale

Nordana struggling with a negative bottom line

Thorco chairman Thor Stadil. Photo: Thorco

Owner lent Thorco USD 38 million

Thorco CEO: We will be more aggressive in the market

Raging price war

The price war on the main trades between Asia and Europe is raging at full strength with a seemingly endless decline in rates.

Alphaliner: Destructive container price war hits new low

Evergreen: Capacity expansion outpaces cargo growth

And the crisis in the oil industry continues to bring bad news

Norway has lost 22,122 oil jobs in less than a year

Statoil warns of new cost reductions

Major divestments for Wintershall in Norway

Law firm sees potential in oil bankruptcies

Euronav CEO Paddy Rodgers. Photo: Richard Drew/AP

The current tanker big-shot goes by the name of Paddy Rodgers, CEO of crude oil carrier Euronav.

Euronav CEO: Shipping enjoys the climb

Euronav finalizes acquisition of four VLCCs

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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

Norden's big venture in Gabon runs smoothly one month after military coup

The shipping group has a major collaboration with a French-owned mining company in Gabon, where the military has taken power.

For subscribers

"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. | Photo: Leschaco

ShippingWatch.com

Family-owned logistics company wants to grow 250 percent by 2030

For subscribers

An ammonia bunker ship that can be loaded with 150 tonnes of ammonia. Ammonia capacity needs to be significantly increased, according to the IEA. | Foto: Stefan Sauer/AP/Ritzau Scanpix

Regulation

Energy agency: Ammonia is crucial for shipping's green transition

For subscribers

Regulation

Lynn Loo urges shipping to "take steps outside its comfort zone"

For subscribers

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 over cancelled drilling rigs

For subscribers

Regulation

IEA: Green fuels keep climate goals alive

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German ports fear public savings
The expansion of German wind power and the import of green fuels are at risk if the state of Lower Saxony implements planned savings in the ports.
For subscribers
Navigare Capital cashes in from sale of several ships
The Danish investor, whose owners include Robert Mærsk Uggla, has taken advantage of high vessel prices. The timing was right, says the managing partner.
For subscribers
Union warns: Shipping still struggles to attract women
Shipping desperately needs female workers, but a cultural change is needed, says one union leader, as the work environment is ”extremely hostile.”
For subscribers
Lidl's shipping company makes changes to get more customers in store
Tailwind Shipping Lines was launched during the pandemic, when the German discount chain was struggling to get goods on the shelves.
For subscribers
Shanghai to set up first pan-Pacific green corridor with Los Angeles
The corridor is set up with some of the biggest shipping lines of the world like Maersk and CMA CGM.
For subscribers
Russia exempts gasoils, bunker fuel from export ban
Russia’s government has amended its fuel-export ban, excluding bunker fuel, gasoils and some middle distillates from the export ban imposed last week, shows decree published in the its legal database.
For subscribers

Lidl's shipping company makes changes to get more customers in store

Tailwind Shipping Lines was launched during the pandemic, when the German discount chain was struggling to get goods on the shelves.

For subscribers

Regulation

Lynn Loo urges shipping to "take steps outside its comfort zone"

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

For subscribers

”We are happy with the results. Obviously, in funds like ours, you will see that the returns are slightly lower in the beginning during the build-up phase, where you invest in vessels and get contract coverage on them,” says Henrik Ramskov. | Foto: Pr / Navigare Capital Partners

Carriers

Navigare Capital cashes in from sale of several ships

The Danish investor, whose owners include Robert Mærsk Uggla, has taken advantage of high vessel prices. The timing was right, says the managing partner.

For subscribers

The coronavirus pandemic gave shipping a bad image as a workplace because thousands of seafarers were trapped on their ships for many months. Here, a seafarer is vaccinated in Bremen, Germany. | Foto: Mohssen Assanimoghaddam/AP/Ritzau Scanpix

Carriers

Union warns: Shipping still struggles to attract women

Shipping desperately needs female workers, but a cultural change is needed, says one union leader, as the work environment is ”extremely hostile.”

For subscribers

Tanker

Russia exempts gasoils, bunker fuel from export ban

Russia’s government has amended its fuel-export ban, excluding bunker fuel, gasoils and some middle distillates from the export ban imposed last week, shows decree published in the its legal database.

For subscribers