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...Indonesia’s national news agency Antara reported in September that Luhut Binsar Pandjaitan, co-ordinating minister for maritime affairs, said he had discussed the idea of an Indonesian sovereign wealth fund...
...The company cited three factors for its optimism: rising US production, the return of refineries from maintenance and the impact of new International Maritime Organisation rules on emissions....
...BW Maritime had already been offered a number of vessels belonging to distressed lenders or being auctioned off by creditors, Mr Sohmen-Pao said....
...Andreas Sohmen-Pao, chief executive of BW Maritime, another leading tanker operator, told the Financial Times after Mr Fredriksen unveiled his plans that it would “add insult to injury” in the oversupplied...
...Many maritime analysts point out that the Valemax ships’ size means they can serve only a handful of ports worldwide....
...When BW Maritime, one of the world’s biggest shipping groups, revealed early last week that it had laid up one of its oil tankers, it was a moment with many historical echoes....
...Andreas Sohmen-Pao, chief executive of BW Maritime, part of family controlled, Hong Kong-listed BW Group, blames shipowners’ over-optimism for fomenting the crisis....
...BW’s move comes as another large tanker owner, New York-listed General Maritime, enters a crucial period in its struggle to alleviate its debt burden....
...Andreas Sohmen-Pao, chief executive of BW Maritime, part of his family’s Hong Kong-based BW Group, says the market is “exceptionally weak”....
...The vessel successfully evaded capture, the EU’s maritime security centre for the Horn of Africa said, but the attack is the furthest ever by Somali pirates from their coast....
...The fires were expected to have an impact on Greece’s tourism industry: ferry operator Minoan Lines fell 4.3 per cent to €5.36, while rival Lesvos Maritime shed 3.7 per cent to €1.05....
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