Last week's top stories on ShippingWatch

The past week was characterized by interim reports from Norden, Torm and Lauritzen. Maersk Oil opened its wallet and BW Pacific called off its planned Oslo IPO.

BY KATRINE GRØNVALD RAUN

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

Torm considering New York IPO

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:

BW Pacific cancels Oslo IPO

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

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Regulation

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

There is too much emphasis on expensive ships and new fuel when it comes to the green transition, says Norden’s Jan Rindbo.

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Peder Simonsen CFO in Golden Ocean points to congestion as a main reason as to why freight rates haven't increased yet when demand is good. | Foto: Pareto Securities

Bulk

A simple reason could explain low dry bulk rates despite good demand

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Foto: Abdel Hadi Ramahi/reuters/ritzau Scanpix

Logistics

Dubai challenges Singapore as shipping's favorite city

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Ports

Opinion: Europe's key ports have become better connected after Covid

ShippingWatch.com

Cosco to build production chain for green methanol

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Carriers

Russia’s diesel ban threatens to roil global markets – if it lasts

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TotalEnergies chief exec: Unreasonable to ban Russian LNG before 2025
There will not be enough liquefied natural gas to replace the EU’s imports of Russian LNG until 2025 or 2026, says the chief executive of Totalenergies.
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John Fredriksen has increased his wealth by NOK 81bn this year
The Norwegian-Cypriot shipping magnate is by far Norway’s richest man and has earned over NOK 200 million a day since last year.
Hapag-Lloyd rolls out Starlink internet to entire fleet
A test of Elon Musk’s satellite internet has ”revolutionized” communication for employees at sea and allows for remote maintenance of ships, according to the shipping company.
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European Energy gets new partner for methanol plant
The sale to the Japanese trading company received the stamp of approval from the EU Commission in August, and the deal has now been finalized.
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CMA CGM and Maersk will need help in new green lobbying alliance
Two of the world’s largest container shipping companies have joined forces to ”accelerate decarbonization” in the shipping industry - but it will take more effort to succeed, analysts say.
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Habben Jansen calls on energy majors to do more for the green transition
Ships are not the problem in shipping’s green transition – the problem is rather the lack of green fuels, and the big oil companies should help out, says Hapag-Lloyd’s chief executive.
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Chief executive: Bolloré acquisition will transform Ceva's air cargo business

The price of air freight has dropped significantly, and the market will become ”complex” in the coming years, says the chief executive of Ceva Logistics.

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Logistics

Dubai challenges Singapore as shipping's favorite city

Singapore is still the favorite city of maritime executives, but high costs of living and skyrocketing rental prices make an increasing number of people look to Dubai, according to survey.

For subscribers

Regulation

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

There is too much emphasis on expensive ships and new fuel when it comes to the green transition, says Norden’s Jan Rindbo.

For subscribers

"In my view, the two shipowners’ sustainability pact could be the nucleus of a wider shipping industry representative body," says Philip Damas from consultancy house Drewry. | Foto: Pr / Cma Cgm

Regulation

CMA CGM and Maersk will need help in new green lobbying alliance

Two of the world’s largest container shipping companies have joined forces to ”accelerate decarbonization” in the shipping industry - but it will take more effort to succeed, analysts say.

For subscribers