M Day. M for Maersk
Thursday at long last brought the new plan for Maersk from Group CEO, and now also CEO of Transport & Logistics, Søren Skou. ShippingWatch presented the outlines of the plan the day before, including which people in Søren Skou's inner circle were set to be promoted. The Maersk Group has now been split into two business divisions: Transport & Logistics and Energy. The group will bet big on the former, while the latter has been given 24 months to prove its profitability.
Verdict in spectacular bunker case
Thursday also brought a verdict in a spectacular criminal case against a Danish bunker company which is under court-ordered anonymity. The district court in Kolding, Denmark found the company guilty of defrauding one its customers, Malaysian Pacific Inter-Link. One senior executive was sentenced to three years and six months in jail. However, the verdict was appealed to the Danish High Court. On Monday, ShippingWatch reported on another case against a Danish bunker company which resulted in a major claim related to failed fuel transports.
The collapse of Hanjin Shipping
The situation surrounding collapse container carrier Hanjin Shipping rages on at undiminished strength. Shippers fear similar cases going forward.
Oil price is costing jobs
The low oil price is triggering layoffs across the world and has made the new oil research center at Denmark's Technical University change its focus.
Maybe more layoffs underway at Royal Arctic Line:
More from ShippingWatch
A VAT dispute in Latvia has now left ferry operator DFDS with millions of kroner in extra costs and a future of navigating a bureacratic minefield. However, the Danish carrier predicts challenges throughout the industry: ”It is only when it’s actually happening, that you realize it is a problem,” warns the company’s indirect tax manager.