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Dagfinn Lunde News

15 Sep 2016

German Banks Count Cost of Global Shipping Crisis

Photo: Hanjin Shipping

German banks are struggling to recoup tens of billions of dollars of loans as a global shipping industry slump hits them hard. The lenders - among the biggest backers of shipowners over the past 20 years - are behind up to a quarter of the world's $400 billion of outstanding shipping loans, three shipping financiers told Reuters. This would make them collectively more exposed than banks from any other single country in terms of outstanding debt to the sector. These institutions…

05 Feb 2014

M&M Appoints Lunde to Directors Board

Dagfinn Lunde

Maritime and Merchant AS  (to be renamed Maritime & Merchant Bank ASA), which was granted a banking license by The Financial Supervisory of Norway (FSAN) on the 28th of January for establishing a global bank dedicated solely to the shipping and offshore industries, has announced the appointment of Dagfinn Lunde to its Board of Directors. Lunde brings more than 30 years experience gained from leadership roles at several leading shipping, banking and consulting companies. His international experience includes management positions within the Klaveness Group of Companies…

06 Nov 2001

Cheng Completes Deal with Louis Dreyfus, DVB Nedship

Fred Cheng’s new shipping company, Shinyo International, has purchased the 1998-built 43,000dwt bulk carrier Bara from Louis Dreyfus Armateurs SNC of France. The ship is chartered back to CETRAGPA (Louis Dreyfus) for a period of four years. The transaction marks the first post-Golden Ocean acquisition by Cheng. It also reflects the core industrial shipping approach taken by Cheng over his twenty five years as a shipowner. DVB Nedship Bank provided the mortgage finance for the acquisition out of the bank’s Hong Kong office. The ship will be managed by Univan Ship Management, also of Hong Kong. Dagfinn Lunde, Chairman and CEO of DVB Nedship Bank stated…

26 Jun 2000

Lunde To Leave Intertanko

INTERTANKO announced that. Dagfinn Lunde, the Association's Managing Director who has so fervently fought for the tanker industry for many years, will leave his post on September 15, 2000, opting to resume , his career within international banking. Lunde, who has the ear of most of the world's leading marine industry policy makers, is well regarded and is considered to have done an excellent job during his five-year tenure as INTERTANKO's Managing Director starting with a major reorganization where senior INTERTANKO managers were tasked with the responsibility for looking after the needs of members in particular geographical areas. .…

30 Nov 2000

Intertanko Names New Managing Director

Intertanko announced that Dr. Peter Swift (55) has been appointed as the new Managing Director of the Association after Mr. Dagfinn Lunde. He will take up his new position as from 1 February , 2001. development. Before joining Seascope Peter Swift had a 24-year career with the Shell Group where his last position was General Manager for Shell International Trading and Shipping Co. Ltd., responsible i.a. for Business Development, Portfolio Management, Globalization and Change Management. After pursuing an academic career as the Assistant Director for Marine Transport Economics at the University of Michigan, Dr. Peter Swift, who holds a Master of Science and a Ph.

24 Feb 2000

INTERTANKO: Use Erika to positive effect

The breakup of the Erika off the French coast in severe weather on 12 December 1999 and the subsequent spillage of 14,000 tonnes of her heavy fuel oil cargo have prompted a reaction of a magnitude not experienced since the grounding of Exxon Valdez in 1989. The popular media had two bites of the cherry - the first when the ship sank and the second, two weeks later, when her cargo began washing up on French beaches. For the maritime press, there has been no hiatus. The coverage has been continuous and abundant since the 24-year old ship sank. Furthermore, it shows no sign of abating. Accusations have been leveled at just about every conceivable party - from owner, classification society, flag state and charterer to port state, insurer and shipbuilder.

17 Sep 1999

Supreme Court Orders Review Of W. Coast Tanker Rules

INTERTANKO's long fight to overturn what it sees as unfair and damaging tanker legislation in the U.S. West Coast region is gaining ground, as on Friday, September 10, 1999, the U.S. Supreme Court issued a writ to the federal appellate court that reviews decisions in the western U.S. directing a review of that court's disposition of litigation challenging tanker regulations imposed by the State of Washington. The challenged Washington State regulations imposed on U.S. and foreign tankers carrying oil in Washington waters a number of unique regulations governing on-board equipment, technology, crew training and qualifications, and operational requirements.

20 Sep 1999

Supreme Court Orders Review Of West Coast Tanker Rules

The proliferation of national, regional and local regulations which effectively dictate the design and outfitting of oceangoing ships are viewed with great disdain by the international shipping community, which contends that - given the shipping industry's global nature - that only one organization, the International Maritime Organization (IMO), should be empowered to implement sweeping changes. Local populations and politicians, however, who view ships at sea as a real threat to valuable local environmental havens - whether deserved or not - attempt to staunchly defend their territory under the shield of restrictive rules and regulations.

05 Oct 1999

INTERTANKO Applauds U.S. Supreme Court Action

On Friday, September 10, 1999, the United States Supreme Court issued a writ to the federal appellate court that reviews decisions in the western U. S. directing a review of that court's disposition of litigation challenging tanker regulations imposed by the State of Washington. INTERTANKO had petitioned the Supreme Court for issuance of the writ. The challenged Washington State regulations imposed on U.S. and foreign tankers carrying oil in Washington waters a number of unique regulations governing on-board equipment, technology, crew training and qualifications, and operational requirements. INTERTANKO brought suit in 1995 challenging these rules as being constitutionally invalid given the substantial federal presence in the same areas of regulation.

01 Oct 1999

Tanker Owners To Gain Market Clout Through New Web-Based Information Sharing System

Tanker owners organization Intertanko is preparing to test a system to give ship owners greater market clout through increased vessel and cargo information sharing. "The project will be technically available within six months and will be tested within a year," Intertanko managing director Dagfinn Lunde said. The aim of the project is to set up a protected Web site where vessel owners can input ship position and cargo information. Intertanko officials said charterers are currently able to dictate market rates because they have better information on availability of cargoes and ships. They can also influence the perception of supply and demand by regulating cargo programs. The new project would aim to give tanker owners similar information to counter the charterers' advantages, Lunde said.

11 Oct 1999

Shipowners Say Industry Is Being Choked By Legislation

International shipowners said the maritime industry is being choked by legislation and that they are unfairly targeted as the culprits for all ills in the sector. Addressing some 1,000 delegates from 35 countries who attended the bi-annual Maritime Cyprus Conference in the port town of Limassol, shipowners outlined the problems the industry faces entering the new millennium. There was a heated discussion on Flags of Convenience (FoC), under which approximately 50 percent of all global tonnage is registered. Mark Dickinson, Assistant General Secretary of The International Transport Workers Federation (ITF) announced to delegates that within the next two years national flag states would also be assessed for operating substandard vessels. Criteria is due to be ready next month.

29 Feb 2000

EU Debates Old Ships V. New Ships

The lack of a European Union directive on tanker regulations could hamper the EU in adopting proposed new rules to ban old tankers, ship owners said last week. The EU will propose cutting age limits for pre-1982 built tankers to 23 years, from 25 and 30, at a meeting with shipping industry representatives on Wednesday. Single hull vessels built under international marine pollution regulations (MARPOL) between 1982 and 1996 would also be banned from Europe after 28 years, down from a current 30. "There is no EU directive on MARPOL, so I don't know how they can change it," tanker owners organization Intertanko managing director Dagfinn Lunde said.

09 Mar 2000

Editor’s Note

If you concur, then you're in for some bad news. The scrutiny of maritime matters by lawmakers near and far is at a fever pitch worldwide. While pressure and visibility of the industry is always high in the wake of severe casualties, there is a perceivable difference in the tone of political and special interest group saber rattling. Real changes — "OPA 90-esque" changes — are close at hand. Central to the current push — as discussed in these pages many times before, and I'm sure many times again — is the break-up and sinking of the tanker Erika off the French coast in December 1999. At press time, leaders from the European Union were scheduled to meet in Brussels to discuss sweeping changes which could significantly impact the way in which ships are designed, built, equipped and operated.

09 Mar 2000

The Erika oil spill - using the incident to positive effect

Oslo-based INTERTANKO is well regarded for its work with government and international regulatory bodies in ensuring that rules and regulations pertaining to the design, construction and operations of tankers is consistent with factual data in regards to the industry's record. In the wake of the Erika disaster, Intertanko's Dagfinn Lunde has been understandably busy in meetings to ensure that ownership issues are presented. At press time, a meeting was scheduled in Brussels to discuss the tightening of rules in regards to port state control, classification directives specific to EU, and potential changes to MARPOL. The following was authored by Dagfinn Lunde, and appeared in INTERTANKO's February General Circular.