Robert Maersk Uggla will step down as CEO of the Maersk Group's salvage and towage carrier Svitzer. On September 1st 2016 he will instead take over the reins as Chief Executive of A.P. Møller Holding A/S, the A.P. Moeller Foundation's holding and investment company.

Svitzer's new CEO will be the current Chief Executive of Damco America, Anette H. Thygesen.

Robert Uggla steps down as CEO of Svitzer

Uggla could get no further as Maersk Chief Exec

The all-time low state of the dry bulk industry is costing carriers billions of dollars, just as specialized carriers such as Nordana and Thorco Shipping are struggling in the sector.

Nordana booked USD 27 million deficit on project cargo

Thorco isolates costly vessel ownership in separate entity

Weco Shipping projects lower result for 2016

Major bulk shares take dramatic roller coaster ride in 2016

Losses at eight bulk carriers could reach astronomic heights

Norden sells more vessels at a loss of USD 18 million 

The collapse of OW Bunker in November 2014 has made several carriers change their bunker procurement procedures, including Sweden's Stena Bulk and Danish XO Shipping.

Carriers weed out bunker traders following OW collapse

After container carriers were hit with a brutal start to 2016, a few positive signs are starting to emerge on the horizon.

Fearnley: Maersk Line headed out of the darkness

SeaIntel: Container carriers on their way out of the slump

Investors intensify offloading of container shares