Offshore struggle continues

Maersk Oil announced this week that the company may shut down the giant Tyra gas field. The costs are quite simply too high, and the offshore sector overall continues to struggle.

Maersk considers shutting down huge North Sea gas field

Kvaerner switches CFO at rapid notice 

Wintershall increases production in weak oil market 

Farstad Shipping appoints new CFO 

Brokers expand

Things are happening at broker firms Lightship Chartering and Maersk Broker, which less than a year ago called off their plans for a dry bulk venture:

Maersk Broker brings in former partners from Lightship 

Lightship Chartering sets up new tanker company

Engine fraud

It looks like the European industry association for equipment manufacturers will not discuss the case related to engine test fraud, in which Finland's Wärtsilä a few months ago was caught cheating at its factory in Italy:

Engine manufacturers reject meeting to discuss test fraud 

SEA Europe overrules chairman in engine fraud case

Photo: OW Bunker

Lawsuits in the OW Bunker aftermath

An investor consortium has now filed lawsuits against the OW Bunker bankruptcy estate, equity fund Altor as well as the board and executive management team of OW Bunker:

ATP sues OW Bunker executive team and equity fund Altor 

Further reading:

Maersk Line and APM Terminals in exclusive deals

World's biggest VLCC owner is back in business

Norden outperforms competition in product tanker earnings

Svitzer appoints new Managing Director for Australia

Paolo d'Amico: We will stay active in bulk