HSH Nordbank’s Shipping Provisions Reach USD 2.1 Bn

Germany’s shipping finance provider HSH Nordbank has reported high loan loss provisions as it set aside EUR 2 billion (USD 2.14 billion) for legacy shipping assets.

d’Amico Delays Delivery of LR1 Tankers

Tanker shipping company d’Amico Tankers has reached an agreement with South Korean Hyundai Mipo Dockyard to postpone the delivery of its first newbuilding long range (LR1) vessel.

EU Policy Makers Urged to Cut Pollution from Shipping

Environmental experts are ringing the alarm bell and calling upon European policy makers to urgently adopt policies that effectively target the environmental performance of shipping.

Bunker Fuel Prices Affect Matson’s Earnings

US-based container carrier Matson reported a net income of USD 19.4 million in the fourth quarter of 2016, down from USD 26.6 million seen a year earlier, negatively impacted by a surge in bunker fuel prices and timing of fuel surcharge collections.

ECSA: No Room for Shipping in EU Emission Trading Scheme

Following the proposal to revise the European Emission Trading Scheme (ETS) Directive, the European Community Shipowners’ Associations (ECSA) argued today that shipping does not belong in the EU Emission Trading Scheme.

WWL CEO: Environmental Performance to Be in Focus of Modern Shipping

Environmental performance will remain one of the “failure-is-not-an-option missions”in modern shipping amid numerous challenges in the industry, Craig Jasienski, CEO of Norway’s Wallenius Wilhelmsen Logistics (WWL), said, predicting the outlook for 2017.

Maritime & Merchant Bank Open for Business

Maritime & Merchant Bank ASA (M&M), a niche bank for the shipping and offshore sector, opened its doors for business on December 20, 2016.