2M could soon grow to three

South Korean shipping group Hyundai Merchant Marine (HMM) looks on track to join Maersk Line and MSC's 2M alliance. The parties announced on Thursday that they have signed a memorandum of understanding aimed at HMM joining the collaboration.

Maersk Line confirms 2M deal with Hyundai Merchant

Hyundai Merchant: Our 2M membership will be realized

HMM to raise over two billion dollars for rescue plan

Photo: PR photo/Damco.

What will happen at Maersk?

The news that A.P. Moeller-Maersk is weighing a split of the company have kicked off speculations about what the future looks like for the conglomerate. ShippingWatch has taken a closer look at the group's core business units. This week with Damco and Svitzer.

"Svitzer method" could set a precedent at Maersk 

History would indicate a sale of Damco

Photo: PR photo/HSH Nordbank.

Banks struggling with shipping loans

It could prove to be difficult for several European banks to get rid of their non-performing shipping loans. This week the state owners of HSH Nordbank informed that it will take at least a decade to shed the worst loans. Meanwhile, Norway's DNB published a second quarter interim report marked by the downturn in sector, while the sale of RBS' Greek shipping portfolio looks to have stalled.

HSH may take decade to wind down faulty shipping loans

DNB hit by oil crisis in second quarter

Media: Buyers of shipping loans from RBS now hesitating

The week also news from companies such as Thorco Shipping and Bunker Holding, and Dong Energy decided to sell a big part of its oil business:

Owner: This is why Thorco Shipping is a solid business  

Bunker Holding CEO banks on new acquisition this year

US Coast Guard rejects Desmi's ballast water appeal

Dong sells 10 percent of its oil production