Marine Link
Wednesday, June 20, 2018

Danish Shipping News

Danish Shipping Tribunal Relocated to Viborg

Image: Danish Maritime Authority

As part of the Danish Government's plan "Better balance – Government jobs closer to citizens and companies" (only available in Danish), the Danish Appeals Boards Authority was established on 1 January 2017. A large number of Danish appeals boards have relocated to the Danish Appeals Boards Authority in the city of Viborg in Jutland, including the Danish Shipping Tribunal. In this connection, secretarial assistance for the Danish Shipping Tribunal, which was previously provided by the Danish Maritime Authority, has been transferred to the Danish Appeals Boards Authority.

Asia-North Europe Box Rates Up 7 pct

File Image: Credit Port of Boston

Container spot freight rates from Asia to Northern Europe rose 7 percent to $961 per twenty-foot equivalent units (TEU), the Shanghai Containerized Freight Index showed on Friday.    Freight rates from Asia to ports in the Mediterranean rose $38 to $882 per TEU Maersk Line, a unit in Danish shipping and oil group A.P. Moller-Maersk, is the market leader with a global market share of around 15 percent. It controls around 20 percent on the world's busiest routes between Asia and Northern Europe   Reported by Reuters Copenhagen newsroom

Danish Shipping Profits Drop

Danish shipping's gross profits fell three percent on an annualized basis to $965 million in 1998, hit by falling freight rates and the economic downturn in the Far East, according to the national statistics office (DS). Turnover was put at $7.5 billion, a three percent increase from 1997, with gross profits accounting for 12.6 percent of the figure and time chartering earnings up. "An increase in shippers' container tonnage meant a rise in freight carried but this was not considerable enough to prevent a decline in profits," a DS official said. The biggest 22 of Denmark's 247 shipping companies, led by shipping and oil group A.P. Moeller's Maersk Line -- the world's biggest container liner -- accounted for 92 percent of gross profits.

Danish Finance Minister to Report on North Sea Oil Negotiations with Maersk

Denmark's finance minister Kristian Jensen will hold a news conference about the government's ongoing negotiations with the Danish Underground Consortium (DUC) about a new tax agreement for North Sea oil and gas operations at 1745 CET on Wednesday, the finance ministry said in a statement.   DUC consists of Danish shipping and oil conglomerate A. P. Moller-Maersk, Shell, Chevron CVX.N and state-owned Nordsofonden.   The deal is seen as crucial for Maersk as it seeks to focus its operations on the North Sea and spin off its energy assets via a listing or merger. (Reporting by Teis Jensen; Editing by Toby Chopra)

Danish Shipping Asseses New Ship Recycling Initiatives

Photo: Danish Shipping

The European Commission has published its long-awaited position on the feasibility of introducing a financial incentive to ensure that more ships are recycled at EU-approved facilities. Danish Shipping is opposing such a financial scheme but agrees with the Commission’s conclusion that effects of existing legislation must be known before introducing new initiatives. The Commission will not commit to a new license scheme for ship recycling. According to a new report, the Commission points out that it is still uncertain how a ship recycling license would actually work.

Danish Shipping's New Guide to BWM

Image: Danish Shipping

Danish Shipping launches a new guide regarding the implementation of the Ballast Water Management Convention, which will enter into force on 8 September 2017. In a few days, the Ballast Water Management Convention will enter into force. In future all new built ships must be equipped with a ballast water treatment system. For existing ships, systems must be installed as from 8 September 2019 to 8 September 2024. The Convention shall ensure that no invasive species such as zebra…

Danish Shipping Firm Sells Tankers

A/S Dampskibsselskabet Torm, a Danish shipping company, is selling three of its tankers for a total of $63m. The move is part of Torm's strategy of selling older bulk vessels so it can build its fleet of bigger Panamax bulk vessels. Torm did not disclose who is buying the three older vessels. Following delivery of the three vessels, TORM's owned fleet will consist of 30 product tankers and five dry bulk vessels. Besides its owned fleet, the company operates nearly 100 ships. (Source: Washington Times)

Abandon Requirement of Shipping in EU's Emissions Trading System

Photo: Danish Shipping

The European Parliament and the EU Member States still have not reached an agreement regarding the EU's Emissions Trading System, EU ETS. European shipping is therefore still at risk of being subject to unilateral EU regulation rather than supporting the global process. It should stop now, says Member of Parliament Bendt Bendtsen (The Danish Conservative Party), who calls on the European Parliament to abandon its special requirements to the detriment of European shipping companies and to support the work of IMO instead.

China OKs Maersk Hamburg Süd Deal

Image: Maersk Line, Hamburg SĂĽd Deal

The Ministry of Commerce (MOFCOM) in China approved Danish shipping giant Maersk Line’s proposed acquisition of Hamburg Süd, reported Reuters. Maersk Line, the world’s biggest container shipping company, will pay 3.7 billion euros ($4.3 billion) to buy German rival Hamburg Sud. However, China has put in place restrictions on Hamburg Süd and Maersk Line’s use of vessel-sharing agreements (VSA). The ministry, in a statement, said the company could not enter a new ship sharing alliance on Far East-South America routes in the five years after the deal.

DMA Inaugurates New Headquarters in Korsør

The Minister for Industry, Business and Financial Affairs Brian Mikkelsen. Photo: Danish Maritime Authority

The headquarters of the Danish Maritime Authority (DMA) is now located in Korsør. Initially, the Danish Maritime Authority is established in temporary premises until the final domicile is ready. The Minister for Industry, Business and Financial Affairs inaugurated the new headquarters of the Danish Maritime Authority. He was joined by the Mayor of the Municipality of Slagelse and the Director General and CEO of Danish Shipping as well as nearly 100 guests. With the relocation to Korsør…

ECSA Presidency Handed Over to Panagiotis Laskaridis

Photo: European Community Shipowners’ Associations

European Community Shipowners’ Associations (ECSA) has held its Board of Directors’ meeting and Niels Smedegaard of Danish Shipping and CEO of DFDS handed over ECSA Presidency to Panagiotis Laskaridis, Member of the Board of the Union of Greek Shipowners and CEO of Laskaridis Shipping and CEO of Lavinia Corp. Panagiotis will start his two-year term as ECSA’s new President from January 2018. Smedegaard will remain Board Member representing Danish Shipping. “I am very pleased of this trust…

Nor-Shipping: Opening Oceans in Denmark

Photo: Nor-Shipping

Global maritime event week Nor-Shipping is making its first move outside Norway, with a new initiative to help maritime and ocean industry players realize the almost limitless business potential of the ocean space. Nor-Shipping’s Opening Oceans Conference, taking place in Copenhagen from May 2-3, 2018, will bring businesses together to illustrate and discuss key opportunities, equip delegates with the tools to tackle them, and facilitate fresh collaborations. Timed to coincide with Danish Maritime Days…

Norden Boosts Earnings Expectations

Photo: Peter Gramstrup / Norden

Danish shipping firm Dampskibsselskabet Norden A/S said its unaudited and preliminary results indicate an adjusted result for 2017 in the range of $20 million to $35 million, up from previous expectations of -$10 to $30 million.   Norden said the anticipated earnings improvement is a result of a stronger than expected performance in the fourth quarter of 2017 in both the tanker business and dry cargo business, including the dry operator.   Norden will publish its annual report for 2017 on March 6, 2018.

Denmark is World's Sixth-Biggest Seafaring Nation

Photo: Danish Maritime Authority

The Danish-controlled fleet is increasing. Taking the sixth place on the list of the world’s major shipping nations given as operated tonnage, Denmark has advanced one place. Already from early 2018, Danish shipping has a fair wind and has succeeded in advancing on the list of major shipping nations. This is demonstrated by the most recent overview from IHS Markit (Sea-web). At present, Danish shipping is undergoing positive developments. This is now directly deductible from the ranking list of the world’s major shipping nations.

DMA to Digitalise Port State Control

Photo: Danish Maritime Authority

The Danish Maritime Authority (DMA) and European Maritime Safety Agency (EMSA) are examining how online control of certificates could make Port State Control (PSC) inspections more efficient. This happens in the wake of the DMA’s implementation of digital certificates on Danish ships. Time is money, and PSC inspections are time-consuming since they include scrutiny of the ship’s certificates as well as inspection of its compliance with operational and safety regulations. But how to make PSC inspections more efficient without compromising safety? By enabling online control of certificates.

Danish shipping fuel supplier OW Bunker confirms IPO plan

Private equity co Altor plans to partly sell holding; OW Bunker FY net up almost 50 pct at $63.4 mln. Revenue up more than 20 pct at $16.99 billion. Danish ship fuel supplier OW Bunker plans an initial public offering (IPO) of shares in Copenhagen, it said on Wednesday, confirming what sources familiar with the matter had told Reuters on Monday. The company, which has a share of around 7 percent of the global shipping fuel market, said it planned to sell new stock as well as some of the shares owned by its major shareholder, private equity group Altor. It did not say how much it planned to raise. The company also posted full-year 2013 results showing revenue up more than 20 percent to $16.99 billion and net profit up almost 50 percent to $63.4 million.

Denmark Gets QUALSHIP 21 Certificate

Image: Danish Maritime Authority

Once again, the U.S. Coast Guard has issued Denmark with the well-reputed certificate for United States Coast Guard's Quality Shipping for the 21st Century Program (QUALSHIP 21). The program is intended to secure and improve shipping and has existed since 2001. The program aims at identifying high quality ships and promoting quality shipping in this manner. Denmark has just received a diploma as evidence of the fact that Danish shipping maintains the standards of quality shipping. "Naturally, I am pleased that Danish shipping meets the high standards characteristic of quality shipping.

EU Member States Ask to End Crippling Reporting Formalities for Ships

Image: Danish Shipping

Led by Denmark, 13 EU Member States have called on the Commission to present an ambitious proposal on revising the Reporting Formalities Directive. Danish Shipping strongly supports the ambition to sufficiently eliminate the huge administrative burdens on maritime carriers in the EU. The current directive introduced the concept of National Single Windows as a way to harmonise reporting obligations from ships to a single electronic system in each Member State but failed to harmonise data requirements or the mechanisms for sending them thus creating more burdens on maritime carriers in EU.

Maersk Divest its Shares in Danske Bank

Danske Bank A/S Photo: A.P. Møller – Mærsk A/S

Danish shipping and energy giant A.P. Møller – Maersk A/S has sold its shares in the Danske Bank A/S for a total of DKK 3.2 billion (USD 477 million). Maersk owns 16.2 million shares representing 1.6 per cent of the total shares in Denmark's largest bank. Sales are made through an accelerated book building, which will also determine the price, according to Maersk. Following the placing, the shipping and energy firm will hold no shares in Danske Bank. American bank JPMorgan and Swedish major bank Nordea are hired as consultants for Maersk in the sales process.

Recent Casualties Highlight Importance of Cargo Insurance - iContainers

The Indian Coast Guard battles a fire aboard the Maersk Honam earlier this month (Photo: Indian Coast Guard)

The ocean freight industry has seen several major incidents over the past few weeks, including two fires on board two separate Maersk vessels, and a containership collision in Karachi Port that forced the temporary closure of the port. These incidents underscore the importance of always buying cargo insurance to protect merchandise and cushion damage, says Klaus Lysdal, Vice President of Sales and Operations at iContainers, a 100 percent online freight forwarder. The major fire…

Danish Shipping Worries on New Trade Restrictions

Image: Danish Shipping

Although the US has decided to exclude Europe from new tariffs on steel and aluminium, new restrictions on trade between the United States and China raise concern. There is an urgent need for new diplomatic efforts to prevent an escalation, says Danish Shipping. The United States and China are the two largest markets for the Danish shipping sector with annual total exports amounting to 38.5 billion DKK. The two countries constitute approximately 23 pct. of the Danish shipping companies' total export activity.

DFDS to Acquire Turkey's Largest RoRo Operator

U.N. Ro-Ro operates five major routes between Turkey and the EU Image courtesy DFDS

Danish shipping and logistics group DFDS has acquired Turkey’s largest operator of Ro-Ro freight ships and will be a major player in the strong and continuously growing trade between the EU and Turkey. U.N. Ro-Ro operates five routes connecting Italy and France with Turkey, 12 ships and port terminals in Trieste and in Pendik, Istanbul. U.N. Ro-Ro employs 500 people. The deal is subject to approval by the authorities. ​Today, Danish shipping group DFDS signed an agreement to acquire 98.8 % of the shares in the shipping company U.N.

Danish Shipping Moves Towards a Digital Future

Photo: Danish Shipping

In January and February the Maritime Disruptors Academy premiered when both students and employees in the shipping industry actively engaged on how to make the most of new technology and ways of thinking. Given that the entire Danish maritime cluster will be part of the change the next Academy, which runs in the autumn, will be open for participants across the cluster. Many new technologies knocks on the doors of the maritime sector. To name a few: Artificial Intelligence, robotics, Internet of Things, blockchain and 3D print, and they will all affect the maritime sector in the years to come.

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