ShippingWatch

This week's top stories on ShippingWatch

Major internal battles in the UN IMO regarding shipping's role in terms of the climate and environment, accounts from the world's second-largest bunker group, and the Maersk Group's problems after a hacker attack and chemical discharge in the North Sea made headlines this past week.

Photo: PR-foto/USTC

There are many indications that the plans for when vessels must install ballast water management systems will be postponed. This seems evident after the UN's International Maritime Organization (IMO) meeting where member nations gathered at IMO headquarters this week in London to discuss the shipping industry's effect on the environment. ShippingWatch was there.

 

An IMO divided

New postponement of IMO deal sparks criticism from suppliers

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MEP calls for climate signal from IMO leadership

NGOs to IMO: Settle on a climate target

All signs point to postponement of ballast water rules

 

Danish bunker major takes hit in earnings

The crisis is notable at Torben Østergaard-Nielsen's USTC group. The financial report for company Selfinvest, which covers all USTC businesses, showed declines on the bottomline.

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Bunker Holding eyes 14 potential acquisitions ahead

Shipping and bunker group USTC sees profits slashed in half

 

New culture at Danish bunker company

Danish bunker company Endofa has improved its ability to pick battles and will now focus on the bottom line instead of growing revenue. The change of culture is part of the explanation behind the group's first ever profit in 2016, the CFO tells ShippingWatch.

Endofa after first profit: "We're better at choosing our battles"

 

Maersk suffers from hacker attack

Systems at Maersk Group are still not fully up and running, even though much more than a week has passed since the conglomerate's port business and container carrier were hit by the hacker attack Petya. Meanwhile, the group's oil company was discovered in illegal discharge of a toxic chemical in the North Sea.

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Maersk: Too early to guess consequences of cyber attack

Cyber attack could cost the Maersk Group over USD 50 million

SeaIntel: Disturbingly low cyber security in the container industry

 

...and criticized for chemicals in the North Sea

Maersk report on 42 tons of illegal pollution discharge is inadequate

Maersk Oil has released 42 tons of non-approved chemicals in the ocean

E-mails reveal that Danish EPA shielded Maersk from huge losses

 

Make sure to read our other stories..

..about a crisis-stricken major bank in shipping which has several potential bidders, as well as Maersk Broker's strengthening in offshore and the development of the oil market..

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HSH Nordbank has received offers from several interested buyers

Maersk Broker building its offshore strength

Middle Eastern Qatar-boycott will continue and be expanded

Union: APM Terminals rejects new proposed Gothenburg resolution

English Edit: Gretchen Deverell Pedersen

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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