ShippingWatch

This week's top stories on ShippingWatch

Read about a sensational oil deal between Endofa and Danish businessman Jesper Øhlenschlæger, a possible consolidation wave in product tankers and J. Lauritzen, major stories from this past week.

Photo: Gregers Tycho/Polfoto/Arkiv

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The oil was freighted on board the Cielo di Milano, which is owned by d'Amico International Shipping. Photo: Lutz Graupeter/Marinetraffic.com.

Endofa and Danish businessman clash in oil saga

A failed oil deal in Ghana has ended in a battle between the parties involved, with everyone trying to shift the blame for why things went wrong. Several are pointing the finger at Danish businessman Jesper Øhlenschlæger as a key figure. However, he denies any wrong-doing.

Endofa is preparing claims against Danish businessman

"The way I see it, there are no winners in this terrible deal"

Danish businessman at the center of controversial oil trade in West Africa

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Torm's CEO Jacob Meldgaard can see good arguments for consolidating product tankers. Photo: Thomas Tolstrup.

Carrier executives considering consolidation in product tankers

Product tanker could see consolidation in its sights. CEOs from both Torm and Hafnia Tankers have pointed out that there are several good arguments for consolidation. Larger carriers will give better access to the capital markets, says Torm's executive director Jacob Meldgaard.

Consolidation wave could be in store for product tanker

Torm is open to consolidation in product tanker

Torm's profit down big-time in Q1

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The bulk market is still struggling, even though there have been improvements, says J. Lauritzen, which has Mads P. Zacho as CEO. Image: J. Lauritzen

J. Lauritzen delivers deficit in the first quarter

Danish bulk carrier J. Lauritzen delivered yet another deficit in the first quarter of 2017. The company is now in the process of hunting for new executives for its bulk department. The future, however, looks better, says Mads P. Zacho, who is backed up by his owner, Lauritzen Fonden.

Owner and CEO agree: J. Lauritzen will not need more capital injections

Lauritzen CEO is hunting for new dry cargo execs

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Squeezed Maersk companies considering their options

There was also news from the Maersk Group, where Maersk Drilling refuses to sell rigs despite the tough market, while Maersk Supply Service is striving to delay several of the vessels which should be delivered in the coming years. Meanwhile, APM Terminals has appointed a new CFO. Meanwhile Hamburg Süd, which will soon be overtaken by the Maersk Group, presented 2016 figures.

English Edit: Lena Rutkowski

Maersk Drilling rejects selling rigs despite downturn

"Maersk Oil is demonstrating its ability to deliver results in a difficult market"

Maersk Supply Service will postpone vessel deliveries

Maersk Oil chooses Semco for Culzean

 

EU tests possible effect of new container alliances

APM Terminals brings in new CFO from Shell

Hamburg Süd lost revenue in 2016

MAN pays back USD 8 million in engine fraud case

Partner and founder steps down from Endofa

Frontline attacks DHT's leadership in takeover battle

Hapag-Lloyd's deal with UASC will be presented next week

 

 

Frontpage right now

Norwegian offshore carriers more optimistic about the future

Two of the biggest carriers in Norwegian offshore, Solstad Farstad and DOF Subsea, note in their annual reports that there is increased tender activity in the oil market, which indicates a better market in the future. The market has bottomed out, says Solstad Farstad.

J. Lauritzen lost USD 45 million in 2017

Denmark's J. Lauritzen lost USD 45 million in 2017, almost in line with the year before. The carrier expects a better result this year, though still not satisfatctory. And a potential recovery could be muted.

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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