Denmark criticizes South Korea's maritime state subsidies

South Korea is planning extensive state subsidies for shipbuilders and carriers, and the Danish Minister for Business describes these plans as problematic. "It tips the balance on the market. This is why we're pushing to have the OECD review state subsidies to shipbuilders," he tells ShippingWatch.

BHP Billiton disappoints analysts after H1

The Australian miner finished the first half of its fiscal year worse than expected, though improvements are emerging in several commodity sectors, says BHP in its interim report.

This week's top stories on ShippingWatch

Prices for offshore vessels at rock bottom, the view on ethics among carriers as well as investors, and a McKinsey report on the container industry's return on investments were all among this week's top stories on Shippingwatch.

Five carriers order MAN methanol engines

MAN Diesel & Turbo will supply engines to four newbuilds which, apart from methanol, can also sail on other types of fuel. "This new order confirms the ME-LGI concept as a mature technology," says MAN.

Last week's top picks on ShippingWatch

The season for financial reports kicked off last week with figures released by DSV, DFDS and Maersk, while another ban in the climate battle inched closer to realization in London.

Statoil's CEO has one big problem

With Wednesday's annual report, Statoil was able to call of its long-running crisis. Money is flowing in. Nevertheless, the company's CEO has one particular concern.

Surging bunker prices starting to trouble carriers

Marine fuel prices have grown steadily over the past two years, show new figures from Bimco. In particular, this negatively impacts carriers and their customers, while it spells good news for the major bunker companies, analyst tells ShippingWatch.

HMM enters multipurpose partnership with AAL

Hyundai Merchant Marine will launch a new multipurpose collaboration with AAL. The partnership will target a wider range of project cargo with more vessels in especially Asia and the Middle East.

This week's top stories on ShippingWatch

The sale of tanker carrier Herning Shipping to Norwegian investors, digital challenges ahead of shipping and a proposal to reveal the names of sulfur sinners were all among this week's top stories on ShippingWatch.

Wärtsilä's CEO: We're looking for interesting acquisitions

While competitor Rolls-Royce is considering a sale of its marine division, Wärtsilä is hunting for interesting market acquisitions according to Wärtsilä CEO Jaakko Eskola. MAN Diesel & Turbo declines to comment the question to ShippingWatch.

Wärtsilä expects higher demand in 2018

The Finnish engine manufacturer expects improved demand across the whole of 2018. Also for the marine division, which saw the appetite for orders undermined by low freight rates and struggled with overcapacity and a lack of financing among customers.

Alfa Laval ended 2017 with more shipping orders

Major Swedish supplier Alfa Laval grew its marine division order intake in the fourth quarter 2017 due to factors including that more customers ordered scrubbers. But results in 2017 did not live up to the previous year's level.

No. 2 OPEC producer loosens oil shackles for premium prices

Iraq is enabling buyers to load its crude oil without stating the destination of the cargo. This will allow buyers to make a decision at the time of loading on the best location, based on factors such as comparative pricing and whether a particular region is short of supply.

Last week's top stories on ShippingWatch

Several observations were made about a tough tanker market in 2018, while opinions on sulfur regulations and compliance have also emerged. And there were questions for Maersk and IBM's blockchain project this week on ShippingWatch.

Noble Group strikes restructure deal with lenders

Noble Group has made an agreement with creditors to restructure debt of USD 3.5 billion. An external spokeswoman for Noble Group said she could not immediately comment on the information from Debtwire.

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