Danish shipping company Maersk has denied involvement in any offshore exploration/exploitation activities in the Falkland Islands, since specific legislation was passed by the Argentine congress. The Argentine Chamber of Tugs accused the Danish company of violating legislation referred to oil industry operations in the disputed South Atlantic Islands.
Hanjin Shipping used to be one of the world's top 10 shipping companies, but now it faces the final curtain. This Friday is the deadline for the firm to be declared bankrupt by a South Korean court after months of uncertainty. Hanjin's collapse is the largest to hit the shipping sector and it sent shockwaves through the industry.
France's CMA CGM, the world's third-largest container shipping firm, reported a first-quarter net loss and targeted US$1 billion in cost cuts to keep operating margins positive during the current market downturn. Weak freight rates in the past year have left many lines operating at a loss.
Maersk Supply Service has contracted Chilean shipyard Asenav, the country’s largest private yard, to build two new offshore vessels, with an option for up to four more.