The first creditors’ meeting concerning the insolvency of the German shipping container lessor P&R took place in Munich yesterday, in which it emerged the leasor sold around 1m containers that actually did not exist, making the scam one of the largest economic scandals in German post-war history....
https://splash247.com/more-than-80000-hit-by-german-box-leasing-ponzi-scheme/
The Rhine River sees its lowest water level in more than a decade for the time of year, raising obstacles to fuel supplies to Europe. Namely, Rhine’s water lever is at its lowest level for mid-October since at 2006.
This fact is taking place at the same while some fuel markets are already tight, because many European refineries are undergoing seasonal maintenance.
The negative affects of Rhine’s low water level though do not stop there, as high temperatures could lower the water even more,...
https://safety4sea.com/river-rhines-low-water-level-affects-fuel-supply-in-europe/
Shipmanagement giant V.Group continues its growth by acquisition strategy, signing a deal with Germany’s Norddeutsche Vermögen Group to acquire Norddeutsche Reederei H. Schuldt. V.Group hailed the transaction as a major step forward in delivering consolidation of commercial and technical management...
https://splash247.com/v-group-acquires-norddeutsche-reederei-h-schuldt/
American carrier Seaboard Marine and German heavylift giant BBC Chartering are looking to pool their respective multipurpose services connecting the US Gulf with the west coast of South America, according to a filing placed by the carriers with the US Federal Maritime Commission (FMC). This joint...
https://splash247.com/seaboard-and-bbc-chartering-seek-joint-americas-coverage/
A decade since it last dabbled in the KG markets, Germany’s Oltmann Group has launched a new investment scheme to invest in a new MPP ship for Leer-based Reederei Briese. Oltmann is seeking investments of up to EUR8.7m with a minimun participation of EUR20,000 and claims the investments will...
Novatek and Fluxys signed a Land Lease Agreement with the Rostock Port for constructing a mid-scale LNG transshipment terminal based in the port of Rostock in Germany.
According to the joint venture, the two companies will design, construct, finance, own and operate a mid-scale LNG transshipment terminal, which will have a capacity of about 300 thousand tons per annum in the port of Rostock.
The LNG Terminal will accommodate LNG carriers from the Cryogas-Vysotsk liquefaction facility that Novatek...
https://safety4sea.com/new-lng-terminal-to-be-built-at-port-of-rostock/
Angela Merkel
Commentary: Merkel setback hurts EMU reform odds
By David Marsh in Bali
The stunning setback for Germany’s coalition parties in Sunday’s Bavarian state elections will toughen Chancellor Angela Merkel’s already difficult task of winning consensus for reforming and strengthening the structure of European economic and monetary union. The Bavarian debacle will narrow further Merkel’s room for policy manoeuvre both over budgetary squabbles with Italy and over the wider issue of...
Two members of container grouping THE Alliance are joining forces for feeder operations in Asia and Europe. Japan’s Ocean Network Express (ONE) and Germany’s Hapag-Lloyd have concluded a bilateral feeder agreement covering intra-Asia and intra-European trades with a view to growing the relationship...
https://splash247.com/one-and-hapag-lloyd-join-forces-on-feeder-trades/
The BorWin gamma topside has been successfully installed on its jacket foundation in the German North Sea. The giant float-over installation procedure was safely completed on October 11. The platform will supply more than one million German households with clean electricity from wind power.
Heavy lift vessel Xiang He Kou transferred the 18,000 tonne platform topside to the installation site, almost 130 kilometres off the German coast from Dubai shipyard Drydocks World. The vessel had started its...
https://safety4sea.com/borwin-platform-topside-installed-in-german-north-sea/
HIGHLIGHTS
WORLD ECONOMIC & MARKET DEVELOPMENTS
GLOBAL MARKETS: The Christian Social Union (CSU), the sister party of Chancellor Angela Merkel’s Christian Democratic Union (CDU) in Bavaria, suffered big losses in the elections of that state on Sunday 14 October. CSU defeat does not bode well with the CDU’s performance in the Hessian state election on 28 October and, according to some reports, a poor result could potentially lead Angela Merkel to reconsider staying in office as CDU leader and as...