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Kvaerner's profit almost halved in 2018

In line with expectations, Kvaerner finished 2018 with a profit of close to NOK 500 million, which marks a setback compared to the year before. CEO Karl-Petter Løken anticipates improved market conditions for the Norwegian oil service and yard company this year.

MAN backs ambition for CO2 neutral ships by 2030

Major ship engine manufacturer MAN Energy Solutions supports Maersk's ambitions to launch CO2 neutral ships by 2030. "It is technically possible," the company's new Senior VP and Head of Two Stroke Business, Bjarne Foldager, tells ShippingWatch.

Startup wants to use robots as cleaners for ships

J. Lauritzen and Norden have already installed several of Cliin's new cleaning robots in order to save time and money on cleaning cargo holds. But this is just the beginning for the startup, CEO Thomas Jørgensen tells ShippingWatch.

Norwegian yards and rig companies face growth surge

For the first time since the crisis, revenue in the Norwegian oil industry is expected to climb above NOK 300 billion, according to EY. Yards and rig companies stand to benefit from strong growth rates, but several factors could slow the development.

250 tanker vessels spell good news for a squeezed market

Analyst firm McQuilling confirms that the tanker market is on track for a recovery that has been much-anticipated by CEOs in the strained sector. Rates will increase across several segments, according to the comprehensive report.

Shipping companies are eying biofuel

Since Goodfuels signed up shipping company Norden as a biofuels customer, the pace has quickened for the company. Large oceangoing carriers are next in line, says founder and CEO in an interview with ShippingWatch.

"We think DSV's offer is difficult to beat"

The offer from DSV on Panalpina could be hard to turn down, says investment bank Jefferies after DSV's share price has increased and the most obvious rival has withdrawn from the bidding war.

Shipbuilder Daewoo's majority shareholder conditionally approves sale

State-owned Korea Development Bank, which owns the majority of Daewoo Shipbuilding & Marine Engineering, has signed a memorandum of understanding to sell Daewoo shares to Hyundai Heavy Industries. The deal could become the largest seen in the history of the shipbuilding industry.

Sulfur regulations clearly impacted Wärtsilä in 2018

Shipping companies' preparations for the global sulfur regulations had a clear impact on Finnish Wärtsilä last year, while the ban on open-loop scrubbers has not impacted its customers, says the head of the marine division in a comment on the 2018 results.

Ballast water systems supplier in sales record in 2018

Last year, Norwegian Optimarin sold more than 100 ballast water treatment systems, which triggered a new record revenue. But the supplier is already confident that revenue can be doubled this year. "This is an overnight success that's been 25 years in the making," says CEO.

Wärtsilä to lay off 1200 employees

A new round of layoffs is set to hit Finnish Wärtsilä, which plans to lay off around 1,200 employees globally, says the company in relation to its annual report. This is the fourth round of layoffs in five years.

Scrubber advocates disappointed by latest ban

Ports and authorities should not make hasty decisions on open-loop scrubbers, warns scrubber association after the ban against discharging wash water in yet another large bunker port. This is a political issue, says analyst.

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