Maersk and the acquisitions
The Maersk Group's coffers are flowing over, and this week Maersk Oil got a slice of the cake:
Maersk Oil buys fields for close to a billion dollars
Maersk Oil CEO: More aquisitions to follow African deal
Tanker continues to boom
The tanker market boosted Norden's results in the third quarter, where Torm and others also delivered solid results:
Norden's tanker division delivers record result
d'Amico International Shipping: Three good years for product tanker
Odfjell's new gas vessels significantly delayed
Concordia Maritime follows suit in tanker surge
But the capital markets were too much for BW Pacific:
Carsten Mortensen: We can grow BW Pacific on our own
Dry bulk slump continued
Not everyone had a good time, and the dry bulk carriers are paying the price for the weak market:
J. Lauritzen lost USD 16 million in the third quarter
Lauritzen CEO: Not worried about the carrier's future
Lauritzen's bottom line overshadows its well-run gas carrier
Norden CEO sees challenges in lower bulk coverage
Further reading:
Hapag-Lloyd lands EUR 80.9 million operating profit
Finnlines delivered its best quarter ever
China's Cosco takes big dive in third quarter
More from ShippingWatch
Hafnia could face difficulties financing major acquisition from biggest rival
Hafnia is in the process of acquiring 12 vessels from its largest rival, Scorpio Tankers, in a cash transaction estimated at USD 360m. It could prove difficult for Hafnia to finance such a large deal with the current stock prices, analyst tells ShippingWatch.
"Fossil" ships to be part of Norden's fleet for many years to come
Shipping line Norden wants all ships to be able to sail on green fuels in 2030. Until then, the company is not through with buying fossil-fueled ships, head of climate solutions tells ShippingWatch.
Several factors explain the plummeting dry bulk rates
Dry bulk rates have taken an unusual dive at the beginning of 2022. Most recently, the Baltic Dry Index dipped by 4 percent Friday. Several factors have triggered a ”panic in the market,” an analyst explains to ShippingWatch.
Prosafe reports best fleet utilization since 2015
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One of China's busiest ports jammed by Covid
Bottlenecks in the US and Europe greatly impact Chinese port Shenzhen as upcoming holidays are likely to further slow shipment of goods out of China.
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