OSLO, March 23 (Reuters) – Shipping firm Wallenius Wilhelmsen, which transports cars and other vehicles from factories to markets, has cut its dividend to zero and will mothball up to 10 vessels as demand plunged amid the coronavirus outbreak, it said on Monday.
The company also plans to scrap up to four older vessels, it added.
Oslo-listed Wallenius Wilhelmsen, which operates around 125 vessels, had originally proposed to pay dividends of up to $60 million, divided into two tranches.
“The world has changed dramatically over the past weeks, and we are all feeling the effect,” Chief Executive Craig Jasienski said in a statement, adding that the impact could last for a long time.
“Our strong focus on synergies and cost efficiency over the past years have put us in a solid liquidity position, but we are taking early precautionary steps now, to preserve cash,” Jasienski said. (Reporting by Terje Solsvik, editing by Gwladys Fouche)
(Bloomberg) — China disputed Germany’s accusation that one if its warships behaved dangerously toward a military aircraft in the Red Sea, an incident that Chancellor Friedrich Merz called “totally unacceptable.”...
Copper traders racing to get cargoes into the US are looking to shift deliveries into Hawaii and Puerto Rico to cut shipment times, as Donald Trump’s plan for 50% tariffs threatens to slam the door on a hugely profitable arbitrage trade that has gripped the industry for months.
LONDON/ATHENS, July 9 (Reuters) – Greek shipping companies calling at Russian ports are boosting their vessels’ defenses after a series of mysterious blasts in recent months have damaged tankers linked to Moscow’s oil...
24 hours ago
Total Views: 652
Get The Industry’s Go-To News
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
— just like 109,099 professionals
Secure Your Spot
on the gCaptain Crew
Stay informed with the latest maritime and offshore news, delivered daily straight to your inbox
— trusted by our 109,099 members
Your Gateway to the Maritime World!
Essential news coupled with the finest maritime content sourced from across the globe.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.