J. Lauritzen CEO Jan Kastrup-Nielsen announced his departure

Dry bulk carrier J. Lauritzen has, like most of its competitors, lost huge sums on the dry bulk crisis. On Tuesday, the Board, headed by new Chairman Jesper Lok, acted on the dire market and replaced CEO Jan Kastrup-Nielsen. He will be succeeded by Mads Peter Zacho.

Lauritzen CEO Kastrup-Nielsen to step down

Maersk Wyoming arrived at Alang on Tuesday. The vessel will be scrapped next week. Photo: PR/Maersk Line

Maersk returns to Alang

On Tuesday, the Maersk Wyoming arrived at the beach in Alang, India, where the vessel will be scrapped at the Shree-ram yard. The decision to send the ship to be scrapped in Alang has spurred a backlash, as the shipyards have been criticized for their poor working conditions and harmful impact on the environment, though the Shree-ram facility complies with the Hong Kong convention for responsible shipbreaking. The move also illustrates the importance of carriers reducing overcapacity.

First Maersk vessel arrives at the beach in Alang

ICS: Competing interests could make it difficult to scrap ships 

Bimco: Higher dry bulk rates make carriers halt scrapping 

Blue Water Shipping has won a major order in the Caspian Sea. Photo: PR/Blue Water Shipping

Blue Water Shipping and Topaz Energy and Marine prepare Caspian Sea project

Blue Water Shipping and Topaz have won a contract from a consortium of oil majors in the Caspian Sea. Blue Water CEO Kurt Skov describes the contract as the pinnacle of his two-decade history with the Danish company.

Blue Water owner: New Caspian Sea gig is the pinnacle

Topaz boosts Mexico presence and finds new business area 

Topaz to compete with Asians for the next 18 months

Dong Energy published IPO prospectus

Denmark's Dong Energy published an IPO prospectus on Thursday which sets the price of the company at USD 12.5 billion to USD 16 billion. However, there are numerous not insignificant risks related to investing in the Danish utility.

Dong IPO prospectus sets price at around USD 15 billion

Dong: Hejre provisions could increase significantly