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Last week's top stories: Maersk Tankers, ballast water, Royal Arctic Line

The Maersk Group's sale of its tanker unit to the Maersk family made headlines on ShippingWatch this week. Top stories also included a bankruptcy in the ballast water market and revolt among Seadrill's bondholders.

Photo: Jens Dresling/Polfoto/Arkiv

Maersk Tankers slæbebåd towage

PR photo: Maersk Tankers

Maersk sells tanker division to family

The Maersk Group found a buyer for Maersk Tankers in A.P. Moller Holding A/S, which is paying USD 1.2 billion for the company. This transaction criticized by the Danish Shareholders' Association, which is concerned that Maersk sold at a too low price to the family's holding company.

Media: Maersk declines to let shareholders see sale assessments

Bugbee: Maersk family will drive tanker consolidation

Maersk sells tanker carrier to family in a buyer's market

A.P. Moller Holding A/S buys Maersk Tankers

 

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CEO Verner Hammeken. PR photo: Royal Arctic Line

Royal Arctic Line apologizes for the mess

"We're remodeling. Sorry about the mess." According to Royal Arctic Line, the carrier would have done right to put up such a sign after a first half of 2017 that brought numerous problems related to a large-scale overhaul taking place at the carrier. Meanwhile the bottom line shows a loss after taxes of DKK 28 million. However, the carrier can celebrate that major customer Royal Greenland told ShippingWatch this week that it supported the long-term strategy for sailing to and from Greenland.

Royal Arctic Line after costly half-year: Sorry about the mess

 

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Photo: /ritzau/Katinka Hustad

Well-known supplier files for bankruptcy

Norway's Oceansaver was just one of four companies in the world which had obtained a crucial type approval from the US Coast Guard. Now, the ballast water management system supplier has filed for bankruptcy and the company blames factors including delayed environmental regulations and the IMO.

Oceansaver after bankruptcy: "IMO decision was very disappointing"

Major ballast water supplier bankrupt after delayed regulations

 

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PR-foto: Seadrill

Bondholders oppose the Seadrill rescue plan

Seadrill bondholders said to fight debt plan

Seadrill share jump due to speculation or short covering

Seadrill plan forces North Atlantic Drilling off the stock exchange

 

And make sure to read about OW Bunker, Maersk Line, and warnings for the oil industry

OW Bunker estate has lost bunker price case

Maersk Line harbors great ambitions for Hamburg Süd

Norway's central bank projects surge in oil investments

Analysts: First phase in the oil upswing is in progress

English Edit: Gretchen Deverell Pedersen

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.

Denmark criticizes South Korea's maritime state subsidies

South Korea is planning extensive state subsidies for shipbuilders and carriers, and the Danish Minister for Business describes these plans as problematic. "It tips the balance on the market. This is why we're pushing to have the OECD review state subsidies to shipbuilders," he tells ShippingWatch.

Maersk Line explores using LNG for its fleet

Even though Maersk Line has stated clearly that low-sulfur fuel is the answer to the global 2020 sulfur cap, the liner company is actively looking into LNG as a fuel alternative, COO Søren Toft tells ShippingWatch. LNG is becoming more financially attractive, he says.

Pioneer Marine aims for profit after turbulent year

Dry bulk carrier Pioneer Marine, which in September brought in former J. Lauritzen CEO as new chief executive, delivered a fourth quarter profit. The carrier is now aiming for a full-year profit in 2018, Janholt tells ShippingWatch.

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