Latest Lloyd’s List News- CSA says Vale official denies retaliation against Cosco
- Box lines improve punctuality
- Courage Marine narrows its losses as fixed costs contract
- Box Ships nets $4.7m in first quarter
- Euroseas to use rights issue cash to fund ship purchases
- MISC posts deepening losses
- Maersk Line posts $599m first quarter loss
- London warned to raise its game on loss of hire cover
- China’s coastal trades absorb newbuilding surplus
- LNG exports fall in April
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Author Archives: Michelle Wiese Bockmann
Shipping firms at risk of hostile takeovers
PUBLIC shipping companies have been warned they are vulnerable to hostile takeovers by shareholder activists engaging in damaging proxy fights to gain greater control.
Blank Rome attorney Keith Gottfried told the Connecticut Maritime Association that shareholder activists posed a “significant threat” to listed shipping companies and forecast they would find new targets in 2009.
“Many companies are [...]
Treatment of Chawla and Chetan was ‘regrettable’
TWO seafarers stuck in South Korea over the Hebei Spirit tanker oil spill lied and manipulated voyage data recorder information, according to the head of the country’s shipping register, writes Michelle Wiese Bockmann .
Hebei Spirit master Jasprit Chawla and chief officer Syam Chetan were jailed in December but are now on bail pending an appeal [...]
Brussels forces IACS to open up its membership
Class association is told it must comply with European Union competition law
THE International Association of Classification Societies yesterday revealed it must open up its membership to comply with European Union competition law, in the first concession since authorities launched an antitrust investigation 14 months ago.
IACS chairman Kong-Gyun Oh told Lloyd’s List that “there needs to [...]
The fast and the furious
APPARENTLY last year’s incoming commodore whispered in the ear of the outgoing commodore as he received his honour at a ceremony a year ago: “I’ve just bought 9.9% of your company”.
It was probably not the congratulatory remark that OSG’s Morten Arntzen expected to hear from Norwegian shipping tycoon John Fredriksen.
But I wonder what Cosco’s Captain [...]
Off we go
BANISHED in the corner. It’s an inauspicious beginning to the first official event on the first day of the Connecticut Maritime Association’s three-day conference, at Stamford, Connecticut.
But the Women’s International Shipping Trade Association’s fourth annual CMA luncheon is booked out, and I’ve not pre-registered.
So it’s an awkward 30-minute wait in the back corner of the [...]
Shipping firms face the risk of hostile takeovers