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Hempel's new CEO embarks on acquisition hunt

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.

Scrubbers and ballast water systems boost Desmi's profit

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 prepares for a "storm" in coming months

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.

Japan considers merging major yards

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.

Wärtsilä testing ammonia in ship engines

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 to choose new fuels within few years

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.

Shipping bank sees problems with Poseidon Principles

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.

Corona diary from Hong Kong: Anglo-Eastern and the city have changed

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.

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