This week’s top stories on ShippingWatch

The bad timing of Hapag-Lloyd's IPO, cut backs in Royal Arctic, a new tonnage tax in Denmark, crisis in the offshore segment, and a solid financial report from DSV are just some of the most important stories on ShippingWatch this week.

BY TOMAS KRISTIANSEN

New times in Royal Arctic Line

Royal Arctic Line does not just have a new person at the helm, but also a brand new strategy, which could result in the laying off of more than 100 workers. ShippingWatch sat down for an interview with new CEO Verner Hammeken.

Royal Arctic Line to be stripped back to core business

Royal Arctic Line forced to divest activities

Bad timing, Hapag-Lloyd

Timing for the IPO of major German carrier Hapag-Lloyd procved poor, to put it mildly. But it is also a symptom of the current troubles for the global container industry.

Hapag-Lloyd drops share price on IPO

Hapag-Lloyd postpones IPO to next week

Hapag-Lloyd stands by 2015 forecast ahead of IPO

Container braces for three-year downturn

Electrolux CEO sees 'horrendous' trend in core market

Maersk: More Triple E ships could be anchored

New tonnage tax

The Danish government has finally made a move with a proposal for a new and wider-ranging tonnage tax in Denmark. But the crucial piece of the puzzle is still missing, says The Danish Shipowners' Association, i.e., expansion of the net resurrecting scheme (DIS).

New tonnage tax dissapoint Danish shipowners

Germany will intensify state aid to carriers

Prolonged offshore crisis

DNB's Global Head of Shipping, Offshore and Logistics Division, Kristin H. Holth, manages loans of DKK 25 billion to shipping and offshore companies. She believes the offshore market might not see a recovery until 2018.

DNB: Offshore market might not recover until 2018

Nordea: Offshore can go from bad to worse in 2016

Maersk Oil reduces workforce by 10-12 percent

Shell lost USD 7.4 billion in Q3

Statoil's profit more than halved in Q3

DSV did it again

DSV raises outlook on the back of strong quarter

Analysts: Weak markets are unlikely to affect DSV

DSV steers clear of container storm

DSV Chief is not worried about obstinate UTI shareholder

Environmental requirements part IV

Global sulfur requirements are now on the agenda

Electrolux CEO sees 'horrendous' trend in core market
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Maersk: More Triple E ships could be anchored
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Royal Arctic Line to be stripped back to core business
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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.

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Casper Ellerbæk has a professional background at competitor Kuehne + Nagel. | Photo: 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.

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Regulation