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ShippingWatchSunday26 March 2023

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Geneva-based carrier MSC has several Chinese-owned ships in its fleet. These include vessel MSC Zoe, which is ultimately owned by the Chinese state-owned Bank of Communications. | Foto: Bodo Marks/AP/Ritzau Scanpix

Taiwan risk makes carriers look for alternatives to Chinese yards and banks

Shipowners in Europe have quietly begun searching for alternatives to China’s shipyards and financial institutions, several shipping banks divulge.
  • Shipping bank warns: Chinese ship financing poses risk to European shipping
  • Shipping bank positive on container outlook despite warnings of looming over-capacity

For subscribers

Foto: Wrist Ship Supply

Media: Private equity firm to sell Wrist Ship Supply after 15 years of ownership

For subscribers

Hackers have gained access to customer data from Maersk

For subscribers

Foto: Handout/reuters/ritzau Scanpix

Sale of South Korean shipyard approved by Vietnam

For subscribers

Foto: Markus Scholz/AP/Ritzau Scanpix

US wants to cut CO2 emissions from global shipping by 96 percent in 2040

For subscribers

Foto: Hempel

Hempel is once again postponing sale of Russian factory: "It's beyond frustrating"

For subscribers

  • Foto: Hempel / Pr

    New environmental rules prompts Hempel to reach all-time high

    However, the Danish paint manufacturing group has multiplied its debt many times over and is thus pausing its acquisitions to push the bottom line upwards.

    For subscribers

  • Samsung Heavy Industries in Geoje, South Korea | Foto: Ho/reuters/ritzau Scanpix

    Labor shortage puts pressure on deliveries of new ships from South Korea

    Evergreen is currently in talks with Samsung Heavy Industries about how to avoid delays for the carrier’s massive order for new ships.

    For subscribers

  • Foto: Beck Diefenbach/Reuters/Ritzau Scanpix

    China’s exports continue to slide - adding pressure to economy

    China’s exports and imports continued to decline in the first two months of the year, clouding the economic outlook as it gradually begins recovering from Covid restrictions and infection waves.

    For subscribers

  • An LNG ship from KSOE. Not one of the ships from the recent order. | Foto: Ksoe Lng

    South Korean shipyard to build high-cost LNG vessels

    The great South Korean shipyard KSOE is to construct three LNG vessels for an unnamed shipowner at record-high price per unit, writes media. 

    For subscribers

  • Foto: Hapag-lloyd Logimatic

    Hapag-Lloyd inks LNG fuel supply deal with oil major

    Hapag-Lloyd and Shell enter an agreement entailing the supply of liquefied natural gas to the container line’s vessels starting in the second half of 2023.

    For subscribers

  • (ARCHIVE / ILLUSTRATION). The pictured ships are not related to piloting services in Danish waters. | Foto: Steve Helber/AP/Ritzau Scanpix

    EU eases sanctions on ship piloting to avoid accidents

    Due to requests from northern countries, the EU has decided to provide exemptions for ship piloting services in the sanctions on Russia. Danpilot has on numerous occasions operated vessels with ties to Russia’s largest carrier.

    For subscribers

  • Foto: Norwegian School of Economics

    Broker hires Norwegian shipping professor as head of research

    Ship broker Simpson Spence Young has brought in a new global head of research, who joins from a position as professor at a Norwegian university.

    For subscribers

  • Foto: Sina Schuldt/AP/Ritzau Scanpix

    Svitzer fined in the UK after death accident

    Maersk’s towage service operator receives a GBP 2m fine in the UK for lack of sufficient safety procedures in relation to a crew member’s death.

    For subscribers

  • Goran Rostad, managing director, Westshore Shipbrokers. | Foto: Westshore

    Shipbroker SSY enters offshore sector with new acquisition

    Simpson Spence Young buys Norwegian shipbroker, thereby gaining access to the global offshore wind sector.

    For subscribers

  • Foto: Skuld

    Skuld sets new insurance record: "We are delighted"

    The marine insurer achieves a new company record for volumes of insured gross tonnage.

    For subscribers

  • Arkivfoto. | Foto: Arkivfoto / Colourbox

    Long-serving commercial director leaves World Fuel Services

    Michael Stig Nielsen, who has spent the majority of his career at World Fuel Services, handed in his resignation last week and had his last day at the company on Monday.

    For subscribers

  • Halvor Sveen, CEO, Maritime & Merchant Bank. | Foto: PR-FOTO

    Norwegian shipping bank expands portfolio despite container downturn

    Maritime & Merchant provided more loans in 2022, but the markets for container and dry bulk now look much more uncertain, according to the bank’s financial report.

    For subscribers

  • Foto: Seven Seas Group

    Seven Seas is free of difficult past and achieves ambitious goal: "We are very pleased"

    After a restructuring of Seven Seas, the new CEO set an ambitious growth target for 2022 that was achieved in an otherwise difficult year.

    For subscribers

  • Foto: Damian Dovarganes/AP/Ritzau Scanpix

    Gard customers renew their contracts into uncertain year

    The Norwegian marine insurer has increased its portfolio of insured tonnage by 17 million gross tonnes for 2023, a year where customers seek stability, the company writes.

    For subscribers

  • Foto: Stringer Egypt/REUTERS / X01333

    Suez Canal raises prices for tankers

    The crucial merchant ship waterway amends levy for transiting tankers starting from April 1.

    For subscribers

  • Foto: Magnus Møller

    Opinion: Carbon taxes could lead to significant competitive disadvantages

    The coming carbon taxation will likely pose major changes and challenges to industry players, writes analyst Lars Jensen.

    For subscribers

  • Foto: Ludovic Marin/ap/ritzau Scanpix og Yen Meng Jiin/ap/ritzau Scanpix

    Major carriers to save billions by digitalizing freight documents

    Nine leading container carriers commit to digitalizing physical freight documents after a certain standard procedure by 2030 at the latest. Billions of dollars can be saved, according to the parties.

    For subscribers

  • Foto: Denis Balibouse/Reuters/Ritzau Scanpix

    How Citigroup helped lift the lid on Trafigura’s nickel nightmare

    The victim of ”systematic fraud” in relation to nickel trades, commodity trader Trafigura could be losing more than half a billion dollars. Bloomberg tells the story of how the fraud was uncovered.

    For subscribers

  • Foto: Darren Staples/AFP/Ritzau Scanpix

    Retail giants launch new alliance for green sea freight

    During 2023, companies like Amazon and Patagonia will search for solutions to how their goods could be transported without emitting greenhouse gasses from 2025 or 2026.

    For subscribers

  • Foto: Privat, Ultrabulk, Lauritzen Bulkers og Asyad Group

    New board program is popular among prominent shipping CEOs

    Frontline’s former chief executive is just one of several prominent names on the list of the first candidates from the Copenhagen Business School’s new maritime board program. See all the names here.

    For subscribers

Latest news

  • Robert Bugbee's holding company increases stake in Eneti – 24 Mar
  • Dry bulk carriers look to Japan as alternative to Chinese yards – 24 Mar
  • Torvald Klaveness predicts more moderate dry cargo growth this year – 24 Mar
  • NGO on climate summit: "We haven't moved an inch" – 24 Mar
  • DFDS and port cities to increase sustainability on the English Channel – 24 Mar
  • Rodolphe Saadé has a special gift that bests both Maersk and DSV – 24 Mar
  • Spot rates out of Shanghai are back to downward trajectory – 24 Mar
  • EU shipowners want to tighten demands for fuel suppliers – 24 Mar
  • Hafnia rewards management with new share options – 24 Mar
  • Japan shipper seeks government support for Russia insurance risk – 24 Mar
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