Coating producer Hempel has had a challenging year on account of Covid-19, though its top line still improved. 2021 began with a new strategy and acquisition, which is the first step toward an ambitious goal to double its revenue.
René Kofod-Olsen is V.Group's fourth CEO in just three years. The many changes have been a distraction and have led to several wrong decisions, he tells ShippingWatch. The mandate from the owner is to future-proof the company, and for this he is willing to make both selections and rejections.
Due to higher prices of raw materials, coating manufacturer Hempel now raises its prices globally.
Danish Ship Finance saw its bottom line shrink by DKK 110 million in 2020, while the bank projects a more stable shipping market and return to growth in the year to come.
Fuel sales and earnings declined in 2020 at US-based World Fuel Services. The company explains its decline with an economic slowdown on the heels of the pandemic as well as lower fuel prices.
Wilhelmsen and the Port of Hamburg have invested in a new fund established by startup incubator Rainmaking. The goal is to raise a total of USD 30 million for maritime startups, which can help resolve challenges in the supply chain.
The International Bunker Industry Association, IBIA, has set its new board of directors. Former Global Head of Crude Oil Trading at Maersk becomes a new board member along with representatives from Simms Showers and Terramar Oil Panama. The latter was re-elected. Henrik Zederkof of Bunker Holding continues as chairman.
Singapore-based Keppel makes changes to its chairmanship when its long-time chairman steps down from April. Focus was recently renewed on a large-scale bribery case in the company's offshore and marine business.
Oslo-listed Hafnia has signed an agreement with a large independent bunker supplier to introduce mass flow meters and digital bunkering technology in Rotterdam, Amsterdam and Antwerp (ARA). With the deal, Hafnia hopes to combat irregularities in bunker oil deliveries.
DFDS has agreed to start buying green ammonia from a large facility in Denmark from 2026 as fuel for the ferry and freight operator's ships. The first ships could be equipped with dual fuel engines, DFDS Chief Exec Torben Carlsen tells ShippingWatch.
Several large banks risk losing big time on their loans to crisis-stricken GP Global if the bunker company has to do a fire sale of its assets in connection with a restructuring, reports media.
MAN Energy Solutions has been working on a methanol engine for close to a decade. A ship from Maersk sailing on green methanol in 2023 will be the first of its kind, as the shipping companies prefer to replace diesel with gas, the company tells ShippingWatch.
The court-appointed managers of commodity trader Hin Leong have now filed for permission to liquidate the company.
Shipping companies DFDS and Maersk together with the agricultural sector are prepared to buy the production of up to 90,000 tons green ammonia from a large production facility, which could be ready in western Denmark five years from now. The investment totals around EUR 1 billion.
For the first time in a decade of decreasing premiums, Skuld and the other P&I clubs now increase the price of insurance for the global ship fleet. The move is attributed to large damage claims, says Skuld CEO in an interview with ShippingWatch.
Bunker supplier GP Global is undergoing a restructuring, and in that connection a Singaporean subsidiary applies for a debt-related grace period. Creditors have outstanding receivables totaling more than USD 460 million, writes Reuters.
Utility Statkraft signs a letter of intent with Yara and Aker Horizons on production and development of green hydrogen and ammonia. The project "has the potential to become one of the largest climate initiatives in Norway’s industrial history," reads a statement.
Bunker company Monjasa will not have to pay compensation of DKK 40 million in an unusual dispute with Stena Oil, rules Denmark's Supreme Court.
Hamburg Commercial Bank is preparing to settle more loans for shipping in 2021 after new loans totaling roughly EUR 900 million last year. "We are ready for new business in 2021," says Global Head of Shipping Jan-Philipp Rohr to ShippingWatch.
2020 was a year of change for Aker Solutions, which enters a new era with a major deficit and expects to stay in the red for the foreseeable future, shows the Norwegian oil service company's financial report.
Green transition and a growing number of rules mean that South Korea's three biggest yards now dare to increase their order target for new ships in 2021. Some expect to bag almost 50 percent more orders, reports Yonhap.
Norwegian bank DNB has again reduced its exposure to shipping and scaled back its lending portfolio by close to NOK 7 billion. Developments for the fourth quarter were stable, reports the bank.
An oil terminal, considered to be the crown jewel of the Lim family's collapsed business empire, is now being taken over by a state-owned port operator in Singapore, sources tell Reuters.
The French oil giant stands out among major industry players with a solid profit in the fourth quarter. However, the coronavirus and oil price crises turned Total's overall 2020 into a year the company would rather forget. Now it mulls a name change.
Singapore-based Sea Oil Petroleum acquires Norwegian bunker company Pro Fuels. As part of the agreement, a new company is established for the Pro Fuels employees to be transferred to.
Sector adviser to the Danish embassy in China 
Head of People Development, Group HR - USTC 
Dry cargo operator - Coli Bulk Carriers GmbH 
Chartering (f/m/d) for Heavy Lift and Tramp Shipping Senior HR Business Partners - USTC 
Operations Manager - Ultrabulk 
Shipping Assistant Legal Counsel, Group HR - USTC 
