Shipping companies gets involved in the OW
Even if a shipping company has never had anything to do with OW Bunker, it may still risk getting its ships seized. This happened, for example, to the company Norient from Hellerup, which had a ship seized that had been delivered bunker oil from a subcontractor for OW Bunker.
Ballen Ferry Port near completion|
The new Ferry Port in Ballen on Samsø is almost ready to receive the current west ferry Kanhave, which is supposed to sail on the new route between Ballen and Kalundborg.
Aalborg port captain retires|
After nearly 25 years as a port captain in the Port of Aalborg, 65-year-old Peter J. Petersen is retiring. His last day of work is January 31st 2015. He will be replaced by Claus Rosenbeck, who comes from an internal position as an operational leader in the Port of Aalborg.
OW Bunker seeking protection in the US|
Short news: On Thursday evening, OW Bunkers US companies OW Bunker Holding North America, OW Bunker North America and OW Bunker USA sought Chapter 11 protection in the US.
Offshore Safety now under Arbejdstilsynet|
Short news: From January 1st, 2015 the supervision of health and safety on offshore installations in the Danish sector of the North Sea passes to the Danish Working Environment Authority. So far, this sector has been managed by the Danish Ministry Of Climate, Energy and Building.
|Maersk is considering more Triple-E ships|
During the next six months, Maersk Line will place a number of orders for new container ships, the first vessels the company has ordered since 2011. Additional Triple-E ships could be included in the next orders.
|Lower expectations at Lauritzen|
J. Lauritzen came out of the third quarter with an operating loss (EBITDA) of 2.1 million dollars, compared to a profit of 9.1 million dollars last year. The company now expects a net profit for the full year of around 5 - 10 million dollars compared to the previously expected 5-20 million dollars.
Aarhus Maskinmesterskole in need of space |
This summer, Aarhus School of Marine and Technical Engineering welcomed its new students in the brand new Navitas building at the Port of Aarhus. There is now already a problem with too little space. As the school planned the space requirements in the new building, they expected 500 students. But the reality is that there is a need for space for around 1.000.
Unmanned rig in new oil field|
An unmanned platform 245 km from the west coast of Denmark and close to the German part of the North Sea has to pump 2.29 million cubic meters of oil from the ground. The DEA has approved the plan for the start-up of oil and gas production in the new field called the Raven field, where there will be two wells and a underwater pipeline established.
OW Bunkers Singapore is being sued|
So far, there are lawsuits against OW Bunker subsidiary in Singapore, Dynamic Oil Trading, for 118 million kroner so far. The amount has more than tripled in 24 hours. Seven companies now want their losses from trading with Dynamic Oil Trading covered.
Customers will benefit from low oil prices |
A. P. Moller-Maersk will let customers benefit from the bunker savings that the shipping group has achieved due to falling oil prices. The savings will be used to reduce prices, says CEO Nils S. Andersen.
|Shipowners want information on scrubbers|
The European Community Shipowners association, ECSA, calls on the EU to adopt a clear long-term strategy with regard to the discharge of water from the open-loop scrubbers, prior to the EU sulfur regulations. In the EU there are regulations on pollution in harbors and coastal areas
|OW Bunker ship detained|
Hin Leong Trading, the mother company of Ocean Tankers, has had the OW Bunker-ship Laguna detained since yesterday where it has been anchored off Singapore. The ship has been chartered by OW Bunker and owned by Singapore-based Norr Systems Pte Ltd. A number of ship detentions are now expected to follows in the wake of Laguna.
Lindø will establish a shack settlement |
Several of the companies in Lindø Industrial Park as Fayard and Bladt Industries sometimes have large tasks that require them to take additional people in. Now, the industrial park will set up a small settlement with 30-50 shacks, to house the many extra workers. This will greatly increase the flexibility.
Strange downgrades in OW Bunker|
During the month of October, OW Bunker made several downgrades, each time with reference to the dropping oil prices. The strange thing is that the downgrades were made when the oil prices stopped declining. Thus, the price drop cannot be the sole reason for the loss in the company.
Maersk Drilling ventures out to deep water|
Maersk Drilling has invested 5.2 billion dollars in eight new rigs for delivery from 2014 to 2016. They will increase Maersk Drilling's position in the deep water market and Maersk Drilling will be closer to the goal of achieving a surplus after tax of one billion dollars in 2018.
Maersk Drilling in a difficult market|
Despite a difficult market with falling prices, Maersk Drilling emerged from the third quarter with a profit of $ 192 million, against a profit of $ 148 million in the same quarter last year. Altogether, the surplus is only $ 425 million for the first nine months against $ 444 million last year.
|Maersk Tankers prosper|
Maersk Tankers reported a third quarter profit after tax of $ 84 million, compared to only $ 18 million in the third quarter of 2013. This should be viewed in light of net sales for the period declined from $ 407 million in the third quarter last year to 267 million dollar this year.
|Progress on the bottom line for Maersk Line|
In its third quarter, the container shipping company Maersk Line had a profit of $ 685 million, compared with $ 554 million in the same period last year. In the first nine months there was a profit after tax of $ 1.7 billion compared to 1.2 billion in 2013.
Significant progress for APM Terminals|
In the third quarter of this year, APM Terminals had a surplus of $ 345 million compared to $ 203 million last year. Altogether, the surplus in the first three quarters is $ 783 million compared to $ 548 million in 2013.
Smedegaard: We are very pleased|
Nils S. Andersen, CEO of Maersk is extremely pleased with the group's results for the third quarter of 2014, which show a surplus of 1.5 billion dollars, an increase of almost 0.4 billion compared to the same quarter last year.
Residences must give way for port|
The port of Køge has top priority if the choice is between the commercial harbor and additional residences in Køge Marina, says Mayor Flemming Christensen (K). A new report predicts that the noise from an expanded commercial port will be a problem for the development of the Marina.
Oil trade was the final blow for OW Bunkers|
According to information from the newspaper Dagbladet Børsen, the fall of OW Bunker, is due to a single oil trade. OW Bunker had counted on the price of ICE gas oil, used for sailing in coastal areas, would increase but the price has dropped significantly in the recent months. In June, a ton of gas oil was $ 900 and now it just $ 730.
|Oil companies stays away from North Sea|
The world's largest oil companies are staying away from the North Sea. Even though the DEA has revealed that 15 oil companies have submitted 25 applications to search for oil in the Danish part of the North Sea, they are all "old acquaintances". The largest companies apparently believe that the North Sea fields are too small and uninteresting.
|Maersk Line sets new CO2 goals|
Nils S. Andersen outlined Maersk Line's new CO2 goals when he recently spoke at the conference "Business for Social Responsibility" in New York. CO2 emissions will be further reduced by 60 percent per. container compared to 2007.
OW Bunker bankruptcy order issued|
The probate court in Aalborg has now issued bankruptcy order in OW Bunker A/S. Pernille Bigaard,
Plesner and John Sommer Schmidt, Gorrissen Federspiel have been appointed as trustees of the bankruptcy estate.
OW Bunker files for bankruptcy|
The board of directors and management of O.W. Bunker has not been able to find a sustainable solution to the problems. As a consequence, OW Bunker A/S, O.W. Bunker & Trading A/S and O.W. Supply & Trading A/S has filed for bankruptcy.
CIP invests in Scottish offshore wind farm|
Copenhagen Infrastructure Partners will acquire 25 percent in the offshore wind project "Beatrice", located in the Outer Moray Firth, Scotland. It is one of five UK wind farms that have been assigned an investment contract by the British government.
DONG will introduce new giant turbines|
DONG plan to establish gigantic 6-8 megawatt wind turbines off the Walney Island in the Irish Sea. It is in connection with a future expansion of the wind farm. The British government approved of the plan on Friday.
|OWB employees refuse accusations of fraud|
The senior executives of OW Bunker's subsidiary in Singapore, Dynamic Oil Trading, who according to the company, were behind widespread fraud - pleads not guilty. It is believed that OW Bunker's management knew about the situation.
|Strong support for the Danish Maritime Fair|
The first international maritime exhibition in Denmark, Danish Maritime Fair, held at the Bella Center in Copenhagen in early October, is here to stay. A large majority of the 180 exhibitors at the fair are backing it up.
Torm restructuring completed in 2015|
Torm expects to complete the restructuring process in the first quarter of 2015 despite reports that certain creditors are not satisfied with Oaktree Agreement and therefore will derail the process. Torm is supplied with 25 product tankers from Oaktree.
J. Poulsen Shipping joins with HBC|
Cooperation will in the short term allow better use of the two companies' resources, while in the long term can lead to a full merger of the two companies, the companies wrote in a released statement.
OW Bunker can trigger large losses|
Banks, companies and private investors run the risk of huge losses caused by the collapse of OW Bunker, who Thursday morning went to the Bankruptcy Court in Aalborg to report the reconstruction of two subsidiaries.
OW Bunker report reconstruction|
O. W. Bunker has not succeeded in reaching an agreement with its banks for a restoration of its capital on top of the large losses as a case of fraud and a new risk management inflicted heavy losses for the company. The company now reports a reconstruction.
|Torm reduces deficits|
A recently published quarterly account from Torm shows that the product tanker company has improved the results in the third quarter compared with the same period last year. Operating profit before depreciation (EBITDA) amounted to $ 14 million against $ 11 million last year. Profit before tax ended with a loss of $ 26 million compared to $ 40 million last year.
|Fraud in OW Bunker subsidiary|
The senior management of OW Bunker has today been informed about a fraud committed by senior employees in the Singapore-based subsidiary Dynamic Oil Trading. The case is under investigation. The extent of the fraud is not yet clear,
Aarhus accepts Hamburg invitation|
The other day Hamburg Harbor reached out for closer cooperation with the Port of Aarhus after criticism of the Port of Hamburg, for leaving too many containers to be transported by truck over the Danish-German border, when instead you can send them by ship, for example Aarhus. The Port of Hamburg does not want to take anything away from Aarhus. Aarhus is postitive regarding this statement.
Evergas build two new ethane-tankers|
The Danish shipping company Evergas, which specializes in transporting liquefied natural gas and petrochemical gases, increase the newbuilding program with two ethane-tankers, sothe newbuilding program now consists of eight ships. The expansion is due to the fact that Evergas has entered an agreement with INEOS, which is one of the world's largest chemical companies.
J. Lauritzen leave Sankt Annæ Plads|
Another of the large shipping companies is moving address from the city center to Hellerup. This time, J. Lauritzen is leaving the Lauritzen Foundation's historic buildings on Sankt Annæ Plads, in order to advance into the ultra-modern premises in The Cube.
Company exempted from pilotage|
The Danish Maritime Authority has since 2009 allowed the Finnish shipping company Neste Shipping Oy to sail without pilots through Danish waters, even though the ships have a greater draft than 13 meters and is covered by IMO piloting recommendations. The Danish Maritime Authority is now considering to offer this option to other shipping companies.