There were plenty of interested buyers for tech company StormGeo, but the company ultimately decided to enter a deal with Sweden's Alfa Lava, which placed the best offer, says partner in StormGeo's majority owner EQT to ShippingWatch. Updated.
In a bunker market with generally declining volumes, two companies in particular look set to climb the list of the world's top bunker players, projects renowned analyst Jason Silber in an interview with ShippingWatch. One of them was close to a bankruptcy a few years ago and is now bouncing back.
Norwegian marine insurer Skuld books a positive result in line with last year, helped along by returns on investment. CEO Ståle Hansen notes that the company has conquered market shares across its business.
Dan-Bunkering, part of Torben Østergaard-Nielsen's USTC group, makes changes to its top management and appoints a new CEO. Until May 1, 2021, Henrik Zederkof held the position, according to Denmark's Central Business Register.
US-based World Fuel Services saw its top line and earnings drop significantly in the first quarter compared to the same period last year.
The appetite for investments in new production remains muted among oil companies. Despite significant improvements in the first quarter, a Clarksons Platou analyst expects the oil industry to focus on pampering its shareholders and only invest very cautiously.
The first concrete proposal for a global CO2 tax is in the works at the IMO, just as three of the world's major shipping organizations have turned on a dime and now call for a tax on emissions. Realistically, however, it will be several years before such a tax is introduced.
Offshore company Subsea 7 reports of an improved market in the first quarter, and the British company expects more orders out for tender in coming months.
Growth in the number of newbuilds makes Swedish Alfa Laval hopeful for the group's maritime business. Thanks to legislation, sales of ballast water management systems are stable.
Japanese shipbuilder Tsuneishi Shipbuilding acquires 49 percent of competitor Mitsui E&S Shipbuilding. The aim of the transaction is to enable the joint firm to speed up development of next-generation ships using alternative fuels.
LNG is a risk-fraught waste of time as a fuel for shipping, and it will only delay the transition to sustainable fuels, the UK's High-Level Climate Action Champion warned at the presentation of an LNG report from the World Bank.
Revenue at Semco Maritime, which specializes in technical installations on drilling rigs and offshore wind farms, took a small hit in 2020, but the company has succeeded in raising its operating income.
If global shipping wants to reduce CO2 emissions, shipping companies cannot exclude LNG, states Shell in the heated debate over the controversial fuel, which the World Bank has largely written off.
MAN Energy Solutions has teamed up with a German university to map out four potential scenarios depending on the track shipping chooses ahead of the IMO's 2050 reduction target.
The orderbook shrunk at Wärtsilä, which supplies scrubbers and ballast water treatment systems to the maritime industry. The bottom line also took a dip, but the Finnish company expects higher demand in the near future.
Greek shipping is a source of stable business for shipping banks in Hamburg, Germany. Greek shipowners are resilient and as important as German clients to banks such as Berenberg and HCOB. After years of hardship, however, German shipowners may be ready for a comeback, banker tells ShippingWatch.
Nordic carriers are positively attuned to the announcement from the White House to make the shipping sector CO2-free by 2050, believing it will change the IMO's agenda, while others are more hesitant. Drastic changes are required, they say.
Wednesday: The High Court of Eastern Denmark rejects yet another claim for compensation against, among others, private equity fund Altor and the former management of OW Bunker, reports business daily Børsen.
In an update to customers, Maersk reports that it expects the effects of the Suez blockage to continue into the third quarter. The company is deploying new containers to alleviate the situation.
Tanker companies Hafnia and BW LPG now invest in Alpha Ori Technologies, which provides digital solutions for shipping. Hafnia CEO Mikael Skov also joins the company's board.
Major companies such as Maersk Drilling, DFDS, Hafnia and Alfa Laval join a project to test fuel cells on methanol. The project is publicly funded and will determine how the cells can help reduce ships' energy consumption.
Germany's Hapag-Lloyd and the Port of Rotterdam tell ShippingWatch that they stand by their commitment to liquefied natural gas, despite the World Bank's statement criticizing it as an alternative fuel for shipping.
The battle for and against LNG, and whether the fuel can be labeled a decarbonizing fuel, has now taken off. The World Bank urges nations to cancel investments, while Sea-LNG says opponents wish to justify their inaction.
Suppliers Yara and BAR Technologies join forces to supply sails to commercial vessels. A Cargill ship will be the first to be equipped with solid wind sails.
A series of major shipping players like Maersk, MAN Energy Solutions, Total and NYK Line want to develop guidelines for the safe use of ammonia aboard vessels.
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