Product tanker shipping company Torm's chief executive does not see the shift from fossil fuels to green energy as a burning platform. In the long term, new business legs may arise.
The soaring rates in container transport could last until the spring of 2022, concludes Sea-Intelligence, citing two historical trends. Rates to the US could increase by an additional 25 percent.
BW LPG exits 2020 with a decline on the bottom line. The shipping company expects a tougher market in the second quarter after the first quarter brought a record start to the year.
Fuel sales and earnings declined in 2020 at US-based World Fuel Services. The company explains its decline with an economic slowdown on the heels of the pandemic as well as lower fuel prices.
Danish Ship Finance saw its bottom line shrink by DKK 110 million in 2020, while the bank projects a more stable shipping market and return to growth in the year to come.