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Saturday, April 4, 2020

Denmark News

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Shipping Not Immune to a Pandemic -BIMCO

The World Health Organization (WHO) has declared the outbreak of the novel coronavirus a pandemic. There is little doubt that this will have significant implications for the shipping industry. But to what extent? BIMCO expects that the strict containment measures imposed by governments around the world will result in substantially lower global economic growth and consequentially, lower demand for shipping. Container and dry bulk shipping are at the front line when it comes to feeling the fallout…

Dan-Bunkering (Monaco) S.A.M. appointed Hans Lind Dollerup as Managing Director.

Dollerup Tapped to Lead Dan-Bunkering (Monaco)

Dan-Bunkering (Monaco) S.A.M. appointed Hans Lind Dollerup as Managing Director.Dollerup entered Dan-Bunkering and the industry in 2002, and his employment has taken him from Denmark, where he was born and raised, to Monaco, Houston, Florida and now back to Monaco. During the years, he has been involved in trading, management and strategic business development giving him a broad interface and a great deal of valuable and diverse knowledge.The Monaco office currently consists of four people; however, the company is on the lookout for more traders.

© Igor Yu. Groshev / Adobe Stock

BIMCO Revises 2020 Forecast

The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the full consequences. Nevertheless, we see a need to update our 2020 forecast to make some of this massive uncertainty tangible.What is going on in addition to the coronavirus pandemic?Geopolitical tensions that made the OPEC+ alliance break down, has subsequently made the crude oil tanker spot freight market erupt. The events that followed the breakdown - and those that are likely to follow…

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USCG Advises on Minimizing Novel Coronavirus at Sea

The Coast Guard Assistant Commandant for Prevention Policy has published an update March 16, 2020 to MSIB: Novel Coronavirus – Update (Change 2)An outbreak of respiratory illness caused by a novel coronavirus (COVID-19) may affect mariners and maritime commerce. The Centers for Disease Control and Prevention (CDC) has updated their Interim Guidance for Ships on Managing Suspected Coronavirus Disease 2019 (see https://go.usa.gov/xdfyG) and Cruise Ship Travel (see https://go.usa.gov/xdfVP).Illness…

© Carlos Antonio Perez Dasilva / MarineTraffic.com

Team Tankers Forms JV with V.Group

Tanker shipping company Team Tankers International Ltd. said it has formed a joint venture (JV) with ship management specialist V.Group, whereby Team will transfer its in-house managed fleet, consisting of ten MRs and two 25k coated vessels, to the JV, along with its on shore technical organization and seafaring expertise. Team already has 21 ships with V.Group for technical management.Team will own 30% and V.Group 70% of the JV, Dania Ship Management AS Denmark, which will continue to be based in Copenhagen…

(Photo: Stena Line)

Stena Line Announces Job Cuts Due to COVID-19

The coronavirus pandemic has taken its toll on Swdish ferry company Stena Line, who announced Monday that it will cut 950 jobs due to a sharp decline in passenger travel bookings as a result of the outbreak.Stena Line said the coronavirus (COVID-19) outbreak and subsequent travel restrictions imposed by several countries have weighed heavily on bookings, with passenger traffic to Sweden, Denmark, Poland, Germany and Latvia mostly halted. On Saturday, the company completely stopped…

Risk Intelligence System data being assessed at the company’s Hellerup offices, near Copenhagen, Denmark: together with its centers in North America and Singapore, Risk Intelligence provides worldwide maritime transportation security intelligence on a 24/7/365 basis. (Photo: Risk Intelligence)

24/7 Voyage Security Risk Assessment … at the click of a mouse

Risk Intelligence provides security data, information, analysis and assessment to enable safe navigation in areas of risk in an increasingly uncertain worldSince its founding in 2001, Denmark-headquartered security information specialist Risk Intelligence has developed a fully integrated risk assessment and planning tool that provides valid, actionable intelligence to any fleet, on land, in port or at sea, 24/7/365. The company has three information and intelligence products that together assess security risks at sea…

Image: ForSea

Johan Röstin Resigns as CEO of ForSea

ForSea (formerly HH Ferries Group),  the operator linking Denmark and Sweden via Helsingør and Helsingborg, announced that Chief Executive Officer (CEO) Johan Röstinwill be stepping down from his position.“It has been a privilege to lead ForSea for almost three years. The company has come a long way during a short time, and I am proud to have contributed to the many changes we implemented and the results we have achieved. I have decided that now is the right time to step down from my position…

Austal Philippines launched Hull 419, a 109 meter high-speed catamaran ferry being built for Fjord Line or Norway at Austal's Balamban shipyard in Cebu. Photo: Austal

Austal Launches 109m Ferry

Austal Philippines launched Hull 419, a 109 meter high-speed catamaran ferry being built for Fjord Line or Norway at Austal's Balamban shipyard in Cebu.The vehicle-passenger ferry, to be known as FSTR, is the largest aluminium vessel ever launched in the Philippines – and the largest by volume ever built by Austal. It is scheduled to be delivered in the 2nd quarter of CY2020.“This new ship for Fjord Line of Norway is the first of many large, high-speed commercial ferries to be constructed at our newly expanded shipyard in the Philippines," said Austal CEO David Singleton.

Patrick Jany (File photo: Clariant)

Maersk Names Jany CFO

A.P. Moller - Maersk has appointed Patrick Jany as its new chief financial officer, effective May 1, 2020.Jany, a German citizen, joins the world's largest shipping company as CFO and a member of the executive board after more than two decades with Swiss chemicals company Clariant, where he's been CFO since 2006. Prior to his role as CFO, he held several leadership positions within finance, general management and corporate development in Clariant in Germany, Mexico, Singapore, Indonesia and Spain.“I am pleased to welcome Patrick Jany to A.

Risk Management with a Mouse Click

Risk Intelligence provides security data, information, analysis and assessment to enable safe navigation in areas of risk in an increasingly uncertain world.Since its founding in 2001, Denmark-headquartered security information specialist Risk Intelligence has developed a fully integrated risk assessment and planning tool that provides valid, actionable intelligence to any fleet, on land, in port or at sea, 24/7/365. The company has three information and intelligence products that together assess security risks at sea…

Photographer: Lasse Partanen/Destination Halmstad AB

Stena Line Opens New Ferry Route

On Friday January 31, 2020 Stena Line closed the Varberg-Grenaa route. The day after, on Saturday, February 1st Stena Line’s new ferry route between Halmstad in Sweden and Grenaa in Denmark was officially opened. The inauguration started early Saturday morning in Grenaa with almost a thousand visitors attending. The Transport minister of Denmark Benny Engelbrecht attended the ceremony in Grenaa and joined the sea journey to Halmstad where 8,000 people waited for Stena Nautica…

CEO Magnus Hall and CFO Anna Borg. Photo: Vattenfall

Vattenfall Steps Up Offshore Wind Market

Swedish multinational power company Vattenfall said that it had reached a number of important milestones during the year 2019. In Denmark the Horns Rev 3 (407 MW) wind farm was inaugurated, and construction was started on Kriegers Flak (605 MW), said European energy company."In the Netherlands we had the winning tender for Hollandse Kust Zuid 3&4 (~750 MW). We will develop and operate this project together with the first stage, Hollandse Kust Zuid 1&2, entirely without subsidies…

©  Mike Mareen / Adobe Stock

Capesize Index Turns Negative for the First Time Ever

Capesize index plummets to -133, the first time ever in negative territory – is it all up from here?The Baltic Exchange Capesize Index (BCI) dropped to -133 index points on February 4, 2020, turning negative for the first time ever on January 31, 2020. The composite BDI index (BDI), which has excluded the more stable handysize segment since March 2018, also dropped on February 4, 2020 to settle at 453 index points.The BCI has been on a freefall through the entirety of December, but the descent started to pick up more steam during the past couple of weeks.

Image: Gasum

Gasum to Bunker Equinor's Tankers

Finnish utility Gasum has signed an agreement with Norwegian energy giant Equinor for the delivery of liquefied natural gas (LNG) to the latter’s crude shuttle tankers.The Nordic energy company said in a press release that the supply will commence when the shuttle tankers start operating during 2020.The LNG bunkering deliveries will mainly take place off Skagen, the most northern part of Denmark, and at Mongstad, close to Bergen, Norway. Gasum will utilize its Coralius LNG bunker vessel to perform this service.“We’re happy to support Equinor in its ambition towards cleaner shipping…

"Fjord Line's cruise ferry Stavangerfjord was the vessel receiving Coralius' bunker number 200"; photographer: Geir Einarsen.

Gasum Performs 200th LNG Bunkering Operation

The Nordic energy company Gasum said its LNG bunkering vessel Coralius has successfully performed its 200th ship-to-ship LNG bunkering operation.The vessel receiving the LNG fuel was Fjord Line’s MS Stavangerfjord. The bunkering took place while Stavangerfjord underwent periodical maintenance at the Fayard yard in Odense, Denmark.“We normally supply LNG to Stavangerfjord by a loading arm on a regular basis directly from our LNG plant in Risavika,” said Gunnar Helmen, Sales Manager at Gasum.“It’s great to get this opportunity to supply the cruise ferry with LNG in dock in Denmark.

Image: Danish Shipping

Denmark Targets Gender Equality in Shipping

Danish shipping companies have signed a charter that obliges them to actively focus on gender equality, as part of country's new initiative aimed at increasing the share of women in the shipping industry.Just under 20,000 men and just over 3,000 women are employed in Danish shipping companies.The uneven distribution that needs to be changed, says Danish Shipping, who has now initiated a charter where the shipping companies can commit to focusing on gender equality.The first 13 shipping companies sign the charter later today…

Arun Sharma, Executive Chairman. Photo: IRClass

IRClass Foreign Flag Fleet Reg. Up 16%

The Indian Register of Shipping (IRClass) said that the classed fleet registered approx. 3% growth in the past year.The ship classification society said that its foreign flag fleet continued to grow at a robust pace with 16% more vessels added during 2019 demonstrating strong global acceptance of IRClass services.IRClass received several flag authorizations in 2019 including key flags like Cyprus and Denmark and is now recognized by 45 flag states worldwide. It opened a new office in the Netherlands to add to its other European offices in the UK…

Image: TORM

TORM Secures $496M for Debt Refinancing

Denmark-based product tanker company TORM has obtained a commitment for a total of USD 496 million from a syndicate of lenders to refinance its debt and bolster its capital structure.The carrier of refined oil products said the total amount is a combination of two separate term facilities and a revolving credit facility, which will be used to refinance the company’s debt covering a total of USD 502 million.Following the refinancing, TORM does not have any major debt maturities until 2026 which supports TORM’s strong capital structure…

Mike Unger (Photo: Britannia P&I)

Britannia P&I sets up Shop in NY

Britannia P&I has established a new exclusive correspondent, B Americas P&I, to be based in New York.B Americas P&I will be headed by Michael Unger, a maritime lawyer with extensive litigation and arbitration experience.B Americas will enhance the Club’s ability to provide a round-the-clock claims service to all its Members, while also focusing on the needs of Britannia’s North American Members.This development follows other recent steps taken by the Club, including the opening of new offices in Denmark and Greece and the strengthening of its teams in Hong Kong, Japan and Singapore.

(Photo: APM Terminals)

APM Terminals Pipavav Appoints Sørensen

APM Terminals Pipavav (Gujarat Pipavav Port Limited), has appointed Mr. Jakob Friis Sørensen as Managing Director, effective January 1, 2020Sørensen has been a part of A.P. Moller Maersk Group since 1987 starting at the internal A. P.  Moller Shipping School in Copenhagen, Denmark. He has held various positions within the Group in Maersk Line, Maersk Logistics and Damco in countries like Indonesia, Singapore, Malaysia, Japan and India. Sørensen holds an MBA from Henley Management College…

Patrick Hoe (Photo: KPI Bridge Oil)

KPI Bridge Oil Appoints Managing Director

KPI Bridge Oil has appointed Patrick Hoé as Managing Director for its Denmark operations.Hoé  joins KPI Bridge Oil from an international sales position in the wind power industry but he previously spent eiight years with a global trading house as senior bunker trader.

Image: Ørsted

Ørsted Offloads LNG Biz to Glencore

Global leader in offshore wind Ørsted A/S has signed an agreement to divest its liquefied natural gas (LNG) business to the leading global natural resources company Glencore.According to the Denmark's largest energy company, Ørsted entered into a long-term agreement with the Dutch LNG regasification terminal Gate in Rotterdam regarding the right to use 3 billion cubic meters of annual regasification capacity from 2011 to 2031, in December 2007.Today, Ørsted’s LNG business consists…

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Maersk, Tide Maritime Targeted in Petrobras Probe

Brazilian authorities on Wednesday targeted Maersk and other companies for allegedly paying bribes to get an edge in securing shipping contracts with state oil firm Petroleo Brasileiro SA, in the latest phase of a sprawling graft probe.Federal prosecutors said in a statement that Denmark's Maersk, the world's largest shipping company, was involved in allegedly paying $3.4 million in bribes related to 11 shipping contracts with Petrobras, worth 592 million reais ($141.07 million).Maersk was not immediately able to comment when contacted by Reuters.

Image: Wilhelmsen

Wilhelmsen, NorSea Join Forces for Hydrogen

The Norwegean global maritime industry group Wilh. Wilhelmsen Holding ASA and Denmark-based supply chain manager NorSea join forces to develop liquid hydrogen supply chain for maritime applications in Norway.The environmentally friendly liquid hydrogen can be offered to commercial shipping in large scale supply within first quarter 2024, claimed the companies.Together with major industry players such as Equinor, Viking Cruises, Air Liquide, and more, this is a huge and important step towards a sustainable future…

Image: Ørsted

Ørsted Announces STEM Skills Fund

Denmark's offshore wind giant Ørsted A/S has unveiled more than £50k for Science, Technology, Engineering and Maths (STEM) skills across Lancashire and Cumbria.The renewable energy developer says the wave of new finance will be sourced from the Walney Extension Skills Fund.An award of nearly £40,000 goes to STEM Learning Ltd to develop two ENTHUSE Partnership projects in Cumbria and Lancaster. Each Partnership project will bring together eight schools and colleges from within the eligible funding area…