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27 Jun 2019

Shipping Companies: Is Bigger Better?

Š Julien/Adobe Stock

“If consolidation was the solution to all that ails shipping, then container liner companies would be super profitable. They are not. In ‘commoditized’ sectors of the shipping industry, which by now includes pretty much everything apart from very small niche markets, there is hardly any economies of scale at the company level. As long as bigger is not in fact much better, then meaningful consolidation will not happen.”Dr. Roar Adland, visiting scholar at MIT Center for Transportation and Logistics and Professor at the Norwegian School of Economics (NHH).Like any other business…

01 Feb 2016

Polarcus Announces Further Job Cuts

Photo: Polarcus

Marine geophysical company Polarcus announced it will implement further measures to cut costs, including additional headcount reductions and changes to the executive management team. The expanded cost reductions are part of a longer term plan that aims to help Polarcus withstand a prolonged difficult market as well as to take advantage of opportunities in this volatile environment, the company explained. As part of the cost management program implemented at the end of 2014, personnel reductions now total 26 percent.

14 Jan 2014

Teekay Announces Senior Management Change

Teekay Corporation and Teekay Tankers Ltd. announced that Bruce Chan, Chief Executive Officer of Teekay Tankers and President of Teekay Tanker Services, has informed the Company of his intention to resign from his position effective June 20, 2014 after more than 18 years of service with the Company. Peter Evensen, Teekay's President and Chief Executive Officer stated, "Bruce Chan has been a dynamic contributor to Teekay's growth and evolution over the past 18 years. He led our conventional tanker business through one of the toughest periods in its history and positioned it for a strong recovery. We appreciate the work he has done to lead this business. Bruce Chan said, "I have truly enjoyed working as part of the executive team at Teekay during its many years of growth.

30 Jul 2012

Mutiny on the 'Deutschland' Over Re-flagging

Cruise Liner 'Deutschland':Photo credit Wikipemedia CCL

Captain Andreas Jungblut, 59, had captained the luxury cruise ship - made famous as the setting for the long-running Traumschiff television soap opera – for 13 years. But after he wrote a letter to German President Joachim Gauck on behalf of his crew protesting plans by the German Deilmann shipping company to hoist the Maltese flag in place of the German one, he was told to leave by the owner, Bild newspaper reported. “Dear Mr President … you can’t change a flag like you would an undershirt,” wrote Jungblut, according to the paper.