Monjasa's sale of ship fuel increased in the first quarter, and a majority of sales in the first three months consisted of the new low-sulfur fuels.
When Lars Petersson took over as chief executive of Hempel eight months ago, he received a clear mandate from the board of directors. Hempel must grow in the years to come, and this sends the coating manufacturer on a hunt for acquisitions, explains the CEO.
Pump manufacturer Desmi grew its pre-tax bottom line by a little over DKK 240 million in 2019, when scrubber pump and ballast water system sales in particular contributed positively. The company will pay out DKK 130 million in dividends to shareholders.
DNV GL turns to temporary furloughs due to the coronavirus crisis. "We cannot wait for the storm without taking temporary measures," CFO Thomas Vogth-Eriksen tells ShippingWatch. The company is prepared to postpone inspections on vessels and declare force majeure.
The EU Commission's investigation into the merger between Hyundai Heavy Industries and Daewoo Shipbuilding & Marine Engineering has been put on hold, Reuters writes.
Two employees at Keppel's shipyard in Singapore have tested positive for coronavirus. The shipbuilder now suspends 100 staff for 14 days to limit contagion risk.
Equity fund Altor and the former management of OW Bunker file a lawsuit against Deloitte in Singapore for validating financials of subsidiary, reports Børsen.
A deal between Russia and Saudi Arabia could, according to the US president, emerge within the next few days. "Both know what they have to do," he says, according to Reuters.
Anders Grønborg will be the new CEO of TFG Marine, a joint venture between Trafigura and Frontline. He has previously served as global head of sales at World Fuel Services.
Norway's Wilh. Wilhelmsen is impacted by an impairment at subsidiary Hyundai Glovis, which transports cars. The Norsea group also expects reduced activity.
The Vitol Group now enters Singapore as bunker supplier and has acquired an already established player in the world's top bunker port to secure a foothold.
Several prominent shipping companies project that the scrubber boom could be over for now because of the low oil price, delays and the corona crisis.
Chinese shipyards are slowly beginning to recover. But according to analyst firm Clarksons Platou, several factors could trigger additional delays.
The coronavirus outbreak now makes Finland's Wärtsilä suspend its guidance for this year. The company will also look for "temporary cost savings" totaling around EUR 100 million.
Denmark's Eastern High Court on Tuesday made a ruling on a claim from Altor and others that the estate's liquidator should be unable to demand compensation for a triple-digit million-dollar claim.
One of the world's largest ship management companies have hired a new chief financial officer, who has in the past worked at, among others, Wilhelmsen.
The Japanese government will respond to increasing competition from Chinese and South Korean rivals by merging 15 of the country's shipyards, reports Japanese media.
Ardent denies rumors about an impending bankruptcy. However, the company's employees have been informed of "upcoming changes," CEO tells ShippingWatch.
A new consortium sets out to build a PtX plant in Scandinavia that can convert waste into sustainable methanol as an alternative transport fuel. Six of such facilities will be established in the Nordic region over the coming ten years.
Wärtsilä has started taking a closer look at ammonia as a potential solution to shipping's climate troubles. From 2022, carriers will be incorporated into trials at sea.
Wärtsilä will select new fuels for testing within the next few years. The engine technology is already good, but now it is all about flexibility, says Roger Holm, Wärtsilä's president of Marine Power.
German shipping bank Hamburg Commercial Bank thinks the idea behind the Poseidon Principles is good, but sees several problems with the rules. "You have to extend your view," says the bank's head of shipping in an interview with ShippingWatch.
According to Rystad Energy, the world's oil storages will be at full capacity within a few months. This could cause the oil price to dip below USD 10 a barrel, assesses the analyst firm.
Anglo-Eastern takes precautions at its headquarters in Hong Kong, drawing upon experiences from the Sars outbreak. In particular, the shipmanagement company is experiencing problems elsewhere in the world, says the CEO. This article is the first in a series in which ShippingWatch meets key people in the world's most important shipping hubs during the corona crisis.
Bunker company Monjasa has hired a new managing director for Europe. The company has tapped Mikkel Kannegaard for the job, who previously headed the Danish office.
HR Crewing Personnel Officer for Stena Rederi A/S (Permanent position)
Business intelligence analyst - Clipper
