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.

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New environmental rules prompts Hempel to reach all-time high
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Shipbroker SSY enters offshore sector with new acquisition
Simpson Spence Young buys Norwegian shipbroker, thereby gaining access to the global offshore wind sector.
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Skuld sets new insurance record: "We are delighted"
The marine insurer achieves a new company record for volumes of insured gross tonnage.
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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.
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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.
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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.
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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.
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Suez Canal raises prices for tankers
The crucial merchant ship waterway amends levy for transiting tankers starting from April 1.
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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.
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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.
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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.
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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.
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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.
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