Norway’s Frontline and Belgium-listed Euronav are making an early call on peak oil. The pair said on Thursday combination-between-frontline-ltd-and-euronav-nv they were embarking on a $4.2 billion merger that will control 8% of the world’s crude tanker fleet. There’s scope for more defensive alliances given oil demand is set to fall in the latter part of .
Denmark’s shipping magnates are on a different wavelength to central bankers. A.P. Moller-Maersk and DSV, two of the biggest names in global logistics, predicted another bumper year of profits due to continued backlogs in ports and other bottlenecks. That scuppers rate-setters’ hopes that falling freight prices might lend a hand in the fight against high .
Shipping giants are heading for port, but not in the traditional sense. Companies like Denmark’s A.P. Moller-Maersk and Germany’s Hapag-Lloyd are riding a record valuation wave thanks to a year of sky-high container rates. Gobbling up land-based logistics rivals would be one use for the cash burning a hole in their pockets. It would also .
After years of intervening to curb franc strength, the central bank has amassed $1 trillion in foreign currency investments. A group of academics suggests converting this into a sovereign wealth fund but that would bring its own worries. Wisely investing so much money isn’t easy.