Zeamarine is closing its operations in Denmark. The Danish subsidiary has filed for bankruptcy resulting in the closure of two offices and 23 employees being sent home, confirms local liquidator Hafnia Law.
The German breakbulk carrier...Read more
Despite the coronavirus, a very low Baltic Dry Index and problems at Zeamarine, charter rates for multipurpose and heavy-lift vessels so far seem to remain stable, according to Toepfer’s Multipurpose Shipping Index.
Toepfer’s Multipurpose Index measures...Read more
RestructuringThe German booking and operation offices Zeamarine Bremen, Zeamarine Germany and Zeamarine Chartering have come under court supervision while the restructuring of the Bremen-based MPV-operator continues, meaning the company is officially insolvent.
In the first official...Read more
Amidst the chaos and uncertainty, analysts find it difficult to estimate the exact impact of the coronavirus on the multipurpose and heavy-lift shipping industry but certain is that key markets and competing sectors are heavily...Read more
Zeamarine restructuringIntermarine has been resurrected as an independent shipping company as Zeamarine is spinning off its Americas business as part of the restructuring process announced in December. The company will be managed by Richard Seeg, who...Read more
RestructuringZeamarine is rumoured to be offloading at least 15 vessels as part of the business restructuring announced last month. That corresponds to a quarter of its current 67-vessel fleet. The vessels will likely join the...Read more
RestructuringZeamarine is reportedly disposing of vessels to deal with its financial losses. The fast-growing shipping company last month announced that it has hired a restructuring specialist to take over the management of the company and...Read more
The outlook for the multipurpose shipping industry is brightening. Despite the rising geopolitical risk and economic uncertainty, Drewry forecasts that average earnings for breakbulk and heavy-lift shipping companies will rise 6% in 2020 and continue...Read more
Zeamarine has responded to media reports following a managerial change at the company which sees insolvency expert Sven Lundehn take the position as chair of the board. Lundehn has been called in to oversee “a...Read more
RestructuringZeamarine has gotten into severe financial problems and is rumoured to be losing millions. The company has hired a restructuring specialist to replace co-founder and managing partner Hendrik Jan Többe as chair of the board.
Majority...Read more
Demand growthMultipurpose and project carriers can pour an extra glass of champagne on New Year’s Eve as the outlook for 2020 is positive, according to shipbroker Toepfer Transport. “There’s good news on the demand side as...Read more
Annual resultsRoyal Wagenborg has returned to profit in 2018 despite a drop in revenue related to its exit from the Caspian Sea. Improved freight rates and an increase in long term customer contracts lifted results in...Read more
The fragile global economy has weakened the outlook for the multipurpose shipping industry but despite the challenges and uncertainties, the market is still expected to grow by 2% annually until the end of 2021, forecasts...Read more
Multipurpose shippingAAL Shipping has added four large multipurpose vessels to its fleet to enhance the company’s service offerings between Asia and Australia, the Middle East, Europe and North America. With the addition of the “mega-size” vessels,...Read more
AfricaTogether with terminal operator Julius Berger Services Nigeria, Universal Africa Lines (UAL) has launched a new multipurpose shipping service from Europe to Warri in Nigeria to avoid congestion in Nigerian port of Lagos.
With immediate effect,...Read more
Thanks to their fleet of large forest product carriers, G2 Ocean and Saga Welco take the top spots in the breakbulk operator top 10, according to Dynamar.
The Dutch analyst firm compared the multipurpose vessel operators...Read more
Cargotec has completed the acquisition of the marine and offshore businesses of cargo handling equipment manufacturer TTS Group, following a lengthy regulatory approval process in China.
The agreement to buy TTS Group’s marine and offshore division...Read more
Drewry has downgraded its outlook for multipurpose shipping. Weaker projected global economic growth, greater competition from the dry bulk and container sectors, and slower ship demolitions are expected to negatively impact the industry.
The ongoing trade...Read more
AAL Europe has formally launched a regular heavy-lift shipping service between Europe and the Far East. AAL’s 19,000 dwt S-Class heavy-lift vessels with a maximum lift of 700 tonnes will form the “backbone” of the...Read more