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.
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.
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.
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.
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.
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.