Last week's top stories on ShippingWatch

Shipping banks have impaired loans for USD 3.4 billion and DHT stopped an attempt by Fredriksen's Frontline to block the transaction with BW Group. These stories and more were featured this week on ShippingWatch.

Photo: Jens Dresling/ritzau/Arkiv

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NordLB is one of the banks which have been hard hit by the downturn in shipping. Photo: PR/NordLB.

Shipping still hurting banks

German banks, which used to be dominant in shipping, have lost vast amounts on their loans to the struggling sector. According to several observers, the German financial institutions have lost their global lead in shipping.

Shipping banks have impaired loans for USD 3.4 billion

German shipping banks have outplayed their global lead

Bertram Rickmers is ready to give up control to banks



John Fredriksen's Frontline lost the battle to acquire DHT.

DHT rejects Frontline once and for all

Tanker carrier DHT Holdings finally warded off Frontline's attempt to take over its competitor. A New York court ruled Thursday that DHT has not broken any rules in the transaction with BW Group. As such, Frontline has lost its last chance to acquire DHT.

Frontline unsuccessfully courted DHT for more than a year

DHT and BW Group defy Fredriksen's block attempt

Fredriksen to block DHT deal with 11 tanker vessels



Jesper Lok heads the Danish government's appointed maritime growth team. Photo: Carsten Andreasen/Polfoto/Arkiv.

Maritime growth team in Denmark

A maritime growth team in Denmark has made its recommendations for the sector including an expansion of the DIS tax scheme. This means that carriers in the oil and wind industry in the North Sea can pay out net wages to crews on board the ships.

Denmark launches strategy for maritime growth


Make sure also to read about Singapore's rescue package for shipping, an interview with Nordic Tankers, and Rickmers Maritime Trust, which is now selling its entire fleet of 14 container vessels to Greek carrier Navios.

Nordic Tankers CEO: Increased consolidation is the obvious solution

Rickmers Maritime Trust sells entire fleet to Navios

Singapore ready with rescue package for shipping

Frontpage right now

Yet another Maersk ship reports fire in container

Another Maersk vessel was hit by a fire in a container Thursday night. The fire is under control and all crew members are safe. At this point there are no signs that the latest fire is in any way related to the fatal Maersk Honam fire.

Two Seatrade execs convicted for scrapping four ships

In the first court case of its kind, Dutch reefer specialist Seatrade and two of its executives have been sentenced for illegally sending four vessels to be scrapped in Asia and Turkey. "It is very likely" that the company will appeal, says Seatrade.

Dan-Bunkering CEO joins parent company's executive board

After less than a year as CEO of Dan-Bunkering, Christoffer Berg Lassen is now entering the executive board of parent company Bunker Holding. Going forward, Group CEO Keld R. Demant will focus on the company's acquisition strategy, he tells ShippingWatch.

NGO: Why shipping investors need to get involved in the climate

With USD billions lent to shipping, financial institutions play a central role in the work to lower the industry's emissions of CO2. "We're in the middle of a paradigm shift," says James Mitchell, Maritime Finance Lead at the NGO Carbon War Room, in an interview with ShippingWatch.

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