ShippingWatch

This week's top stories on ShippingWatch

DFDS delivered another strong quarterly result during the past week of financial reports from several carriers, Maersk got burned by its own restructuring, and both bulk and tanker saw more setbacks. These were just some of the top stories this week on ShippingWatch.

DFDS
Photo: DFDS

With growth in revenue of seven percent, an increase in freight rates of 30 percent, and a result before taxes that shot up by 23 percent to USD 105.9 million, DFDS – headed by CEO Niels Smedegaard – was able to deliver yet another strong result on Tuesday. And this was followed by yet another full-year upgrade from the RoRo and passenger carrier.

DFDS raises full-year guidance – again

Tanker and dry bulk in the red

On the other side of the fence, a weakening of the global tanker market has taken its toll on leading carriers in product tanker, as losses in the dry bulk sector also continue to roll in.

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J. Lauritzen lowers full-year guidance for 2016

Hafnia Tankers books deficit in Q3

Torm downgrades full-year forecast for 2016

Scorpio Tankers dips into the red in Q3

Product tanker carriers face disappointing 2016 exit

Hapag-Lloyd had positive Q3 in tough 2016

Maersk's credit rating down

Paradoxically, Maersk's own restructuring to help the company through hard times has likely had a negative impact on the transport and energy conglomerate after Standard & Poor's reduced its credit rating of the company, according to several sources. Standard & Poor's is already considering knocking down the rating another notch.

Maersk bonds close to falling in with bad crowd

Maersk is burned by its own restructuring plan

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S&P lowers credit rating of Maersk Group

MSC and Maersk own most of the unpopular Panamaxes

SeaIntel: Moderate container recovery still three years away

 

Make sure to read these other key stories from this week on ShippingWatch:

Such as the latest developments surrounding collapsed container carrier Hanjin:

Hanjin gets winning bid from shipper that once almost failed

Korea Line picked as preferred bidder for key Hanjin service

And the latest news from the world of offshore:

Deep Sea Supply books million dollars loss in Q3

DNB scaling down exposure to shipping and offshore

Rem Offshore fined for violation of stock exchange rules

Frontpage right now

Maersk presents flag plan for Hamburg Süd vessels

Maersk Line now reveals to ShippingWatch its plan for how the ships from acquired Hamburg Süd will be flagged going forward. Read on to learn how the ships will be distributed between Denmark and Singapore.

Car carrier cartel met at bars to fix prices

Over six years, sales directors from the major international car carriers met often to coordinate prices and tenders from major car manufacturers. This week, the carriers received huge fines from the EU Competitions Commissioner.

Media: HSH Nordbank close to deal with new owners

German shipping bank HSH Nordbank has allegedly sealed a deal with two US-based equity funds, report German media. According to Wall Street Journal, the funds will buy the bank at a much higher price than originally assumed.

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