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The extensive Monjasa fraud case to begin Monday

It cost Monjasa founder Jan Jacobsen a prison sentence of 3.5 years and a DKK 10 million fine for the firm when they were convicted of extensive fraud last year in a municipal court in Denmark. Now the appeal case will begin at the Danish national court Vestre Landsret.

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Bulk shares have surged in 2017

Investors are now also thought to believe in a stable recovery in bulk, where the largest shares have been through significant price increases throughout 2017. One carrier in particular has experienced a huge price increase.

This week's top stories from ShippingWatch

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Maersk vessels were flagged out before scrapping in Alang, a bulk boost, a strengthening at Gorrissen Federspiel, and global shipping emissions were all among the week's top stories on ShippingWatch.

New Job

  • Henrik Hyldahn

    New title: SVP, Business Development
    New employer: ShipServ
  • Thomas Jarde

    New title: VP, Chartering Bulk
    New employer: Clipper
  • Michael Krabbe

    New title: CFO
    New employer: Maersk Supply Service

Schlumberger hits the mark in Q3

One of the largest oil industry subcontractors met expectations on the top and bottom lines in this year's third quarter, shows report released Friday.

German banks trapped with expensive ship contracts

Struggling German shipping banks have been locked in for years by expensive vessel contracts with management companies which have hindered the banks from selling out of vessels. This could now change, sources tell ShippingWatch.

New climate battle to take off at the IMO next week

The world's nations will once again attempt to tackle reducing maritime CO2 emissions. A new meeting at the IMO next week is expected to lead to highly charged discussions. A compromise proposed by shipowner organizations is the most likely outcome of the meeting.

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Vitol concerned about Iraqi-Kurdistan conflict

There is a risk that exports will be impacted by the conflict in northern Iraq, where the Iraqi army has taken over several oil fields in the Kirkuk region, says Vitol's CEO to Financial Times.

Port of Oslo accused of social dumping

It is a clear case of social dumping when the Port of Oslo allows underpaid seafarers to load and unload vessels, says the International Transport Workers' Federation.

Only few unemployed gas vessels in the Atlantic

Over the course of just a few days, the number of unemployed LNG vessels has come to a minimum. This will make a big impact on two carriers in particular which have multiple ships in the spot market.

Panalpina grows sales

Revenue is growing at Swiss Panalpina, which competes with logistics majors such as Denmark's DSV. But the operating income has dropped, shows the third quarter interim report.

Clipper sailing at rates that incite fresh optimism

"For the first time in a long time, rates are at a level, which might tempt some to order new vessels, but it will not be us," CEO of Clipper Group, Peter Norborg, tells ShippingWatch. One commodity in particular is critical for the company's progress.

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