Maersk Line buys Hamburg Süd

After a long period of intense speculation, Maersk Line confirmed its acquisition of German container carrier Hamburg Süd this Thursday. Read here what it will mean for Maersk, which must now incorporate the world's seventh-largest container carrier.

Maersk Line buys Hamburg Süd 

Skou: Consolidation will continue after Hamburg Süd acquisition 

Analyst: Maersk's acquisition came in the final hour 

Danske Bank: New Maersk acquisition could strain credit rating 

Photo: Ronald Zak/AP/Polfoto.

OPEC reached unexpected deal

Contrary to what many had expected, the petroleum exporting countries in OPEC managed to agree on a production cap in order to reduce the oversupply of oil. So far, analysts remain doubtful about the effects of the deal.

Media: OPEC to cut 1.2 million barrels per day 

Tanker carriers have burned through millions this year 

OPEC divisions send the oil price down 

Deutsche Bank: Tanker carriers weakened by OPEC deal 

Foto: Hyundai Merchant Marine.

Hyundai Merchant moves closer to deal with 2M

A deal between Hyundai Merchant Marine and the alliance partners in 2M – Maersk Line and MSC – is now looking closer.

2M to land deal with South Korea's HMM within days 

Media: Maersk and MSC put severe pressure on Hyundai Merchant 

Norwegian offshore still struggling with oil price

The consequences of two years with a very low oil price continue to wreak havoc. However, some companies got a break and landed deals with creditors. This is the case for Havila, Olympic Shipping, and Songa Offshore.

Yet another Norwegian offshore carrier in acute trouble 

Farstad emerges from crisis quarter with deficit

Songa Offshore pushes back loan by one year 

Olympic Shipping gets new life extension 

Havila Shipping's bondholders approve rescue plan 

And make sure to the rest of this week's news on ShippingWatch:

Offshore and shipping dragged down Stena in Q3

Sale of second-hand bulk vessels at seven-year high 

Dockworkers announce major demonstration against Unifeeder