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  • Shipping » Positive outlook for Torm in 2016
    says Jyske Bank which even has a buy recommendation on the Torm share The problems dated back to some transactions in Torm in the 00 s which provided Torm with a massive debt But operationally they have fared quite well in the product tanker market and they have withdrawn completely from the dry bulk segment said Frans Høyer analyst at Jyske Bank to Maritime Denmark The restructuring agreement which Torm signed with lenders last summer meant that the lenders impaired the debt while a portion of the debt was converted into shares in the company Oaktree Capital Management interjected ships in the company in exchange for shares in Torm With the financial statements of the third quarter we got a picture of how the new Torm looks like They are completely out of dry bulk segment and it has been profitable in product tankers especially in the second half of 2015 We are seeing some structures in the demand for product transport which means that there will be an increase in demand and we know the Navy s development with new constructions There will probably be a decrease in rates in 2016 compared to the very high levels in 2015 but it will still be at a fine level of profitability said Frans Høyer Torm currently has a debt of 650 million and Jyske Bank predicts that the company will have a cash flow of 261 million in 2016 They will be able to cut a good chunk from their debt in no time and or buy back shares said Frans Høyer from Jyske Bank which has a buy recommendation on the Torm share and a price target of 80 kroner per share Source The editors Maritime Denmark Front page Copyright Maritime Denmark Breaking News New Samsø Ferry is in

    Original URL path: http://www.maritimedenmark.dk/?Id=18575 (2016-05-01)
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  • Shipping » Sea Worker is nearly emptied of oil
    week work has been done to drain the oil from the capsized installation vessel Sea Worker On Monday morning over a third of the fuel was removed The drainage work is expected to continue until the middle of this week We continue to pump from several tanks And we expect to have all the oil completely gone within the next few days said Jens Frederik Hansen CEO of the company A2SEA which owns Sea Worker to TV2 MidtVest on Sunday The weather is crucial as to how the work is progressing It appears that the weather will be quiet until Thursday this week So far there has been established no leaks of oil during the emptying of the tanks but for safety s sake the environmental ship Gunnar Seidenfaden is on standby if it should occur Source TV2 MidtVest Maritime Denmark Front page Copyright Maritime Denmark Breaking News New Samsø Ferry is in good shape A2SEA to install Arkona Wind Farm New ARK contract for DFDS Clipper Group joins Green Ship Bladt finished with Sand Bank project Delisting of Mols Linien shares postponed Mols Linien bids on routes to Bornholm Lauritzen Foundation expands board Drastic changes underway in Maersk Cargo

    Original URL path: http://www.maritimedenmark.dk/?Id=18577 (2016-05-01)
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  • Shipping » Difficult salvage of Umoe Ventus
    day before Christmas Eve last year has been on the seabed close to shore at Bagenkop The wreck is filled with sand which makes it difficult to handle Howver it was still managed on Friday night There is nothing new but we hope that it can be done on Friday night It is extremely important that the cords are aligned because the center of gravity is very important said accident investigator Søren Meyer Nordic Marine Consult Friday afternoon to fyens dk Rescue crews from J A Rederi worked all day on Friday to get the straps properly into place around the very fragile hull that is filled with sand Two parallel cranes on the floating crane Sanna A assisted in addition to the vessel s high crane The two cranes can each lift 125 tons Photos taken by Sven Thormod Petersen late on Friday shows the wreckage on the way out of the water helped by three cranes Source fyens dk Maritime Denmark Front page Copyright Maritime Denmark Breaking News New Samsø Ferry is in good shape A2SEA to install Arkona Wind Farm New ARK contract for DFDS Clipper Group joins Green Ship Bladt finished with Sand Bank project Delisting

    Original URL path: http://www.maritimedenmark.dk/?Id=18578 (2016-05-01)
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  • Shipping » Drunk Lithuanian captain released
    for him to be given a custodial sentence He will be fined instead says Kurt G Nielsen from the local police in Slagelse who s investigating the case on the drunk captain to TV2 Øst The 1 872 dwt Lithuanian coaster Perseus which was going from Odense to Kiel was between 10 30 meters from colliding with the eastern pylon of the Storebælt Bridge on Wednesday The bridge was closed for traffic in both directions for about ten minutes According to TV2 the police hoped that the captain could face sentence but the necessary information from Søfartsstyrelsen was lacking He was not put before a judge within 24 hours as required by law and was therefore released The Lithuanian ship that had been detained was allowed to proceed on Thursday afternoon There is nothing wrong with the cargo ship and it has therefore been allowed to resume the voyage as the police estimates it is not a criminal case The ship has been detained because it is not staffed properly When a ship s officer comes on board with the right papers they can continue on their way says Martin John from Søfartsstyrelsen to TV2 Øst Source TV2 Øst Maritime

    Original URL path: http://www.maritimedenmark.dk/?Id=18580 (2016-05-01)
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  • Shipping » Færgen celebrates 150 years
    were complimentary buffet breakfasts to all travelers The shop on board the ferry presented a number of good anniversary offers In addition to the departure the day will be marked by the opening of a photo exhibition at the ferry terminal in Rønne In 1866 Dampskibsselskabet was founded on Bornholm The name was retained until 1973 when the company changed its name to BornholmsTrafikken The name change took place in connection with the state assuming responsibility for the operation of the traffic In 2005 the company became a limited company and in 2007 Clipper Group A S became co owner of the company Along with Bornholmstrafikken A S Nordic Ferry Services headquartered on the island was founded In 2011 the company merge with Sydfynske A S and the company changes its name to Danish Ferries A S but is just called Færgen The photo exhibition on the ferry services through 150 years can be seen on the first floor of the terminal for the rest of the year It is possible to see the exhibition without buying a ticket for the ferry Source TV2 Bormholm Maritime Denmark Front page Copyright Maritime Denmark Breaking News New Samsø Ferry is in good

    Original URL path: http://www.maritimedenmark.dk/?Id=18581 (2016-05-01)
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  • Shipping » Vestergaard defies offshore decrease
    have joined as the company managed to achieve good results in other business areas Not only have we been able to keep all our hourly paid employees we even got a few more It is because we have staked a lot especially on our machine shop where we have invested in a large shaft lathe and a very large drill such as those known from the wind industry says Technical Director Peter Nørgaard Vestergaard Marine Service has also extended the workshop with close on 500 square meters which is used for the expansion of the shaft and propeller workshop In addition to supplying the wind turbine industry the department in Brazil has been successful in delivering the power plant industry In addition the department in Ålesund in Norway delivered a complete propulsion system for one of Kystverkets ships and has worked with several other tasks Vestergaard Marine Service also has a department Mongstad Bergen Source nordjyske dk Maritime Denmark Front page Copyright Maritime Denmark Breaking News New Samsø Ferry is in good shape A2SEA to install Arkona Wind Farm New ARK contract for DFDS Clipper Group joins Green Ship Bladt finished with Sand Bank project Delisting of Mols Linien shares

    Original URL path: http://www.maritimedenmark.dk/?Id=18562 (2016-05-01)
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  • Shipping » Danish offshore ship sank after fire
    members succeeded to abandon the ship After an hour the ship grounded 60 meter from the shore and capsized in shallow water The Danish Maritime Accident Investigation Board is now examining the wreck to determine the cause of the fire precisely Source fyens dk Front page Copyright Maritime Denmark Breaking News New Samsø Ferry is in good shape A2SEA to install Arkona Wind Farm New ARK contract for DFDS Clipper

    Original URL path: http://www.maritimedenmark.dk/?Id=18564 (2016-05-01)
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  • Shipping » 6 crew members still missing
    still missing 23 12 2015 12 00 00 Tweet 6 crew members from the multipurpose carrier Thorco Cloud are still missing after the ship sunk Wednesday 17 December The first diving survey has now been completed which have resulted in good 3D images of the wreck The images reveal that Thorco Cloud reportedly has broken into two pieces divided with 1600 meters They furthermore show that the wreckage is stabile Only minor oil leakage has been reported and the situation is under control by the local authorities A wreckage and bunkers removal plan is currently being devised Site scanning and ROV investigations are expected to be completed soon We are working on getting a full overview of the entire situation to be able to comment further Source Thorco Front page Copyright Maritime Denmark Breaking News New Samsø Ferry is in good shape A2SEA to install Arkona Wind Farm New ARK contract for DFDS Clipper Group joins Green Ship Bladt finished with Sand Bank project Delisting of Mols Linien shares postponed Mols Linien bids on routes to Bornholm Lauritzen Foundation expands board Drastic changes underway in Maersk Cargo ship aground at Skagen Pirates followed the Danish newspapers Maersk Broker expands Todays

    Original URL path: http://www.maritimedenmark.dk/?Id=18563 (2016-05-01)
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