Latest news from Heavy Lift & Project Forwarding International Magazine

Former Beluga boss in dock

February 5 - HLPFI understands that the Bremen state prosecution intends to charge Niels Stolberg, the former ceo and founder of bankrupt Beluga Shipping, with 16 counts of fraud, although no trial date has yet been set.

The German media reports that Stolberg will be charged with obtaining higher credit from the banks by overstating shipbuilding prices adding that prosecutors say banks were defrauded of more than EUR90 million in this manner.

Financial investor Oaktree Capital Management invested USD280 million in Beluga in 2010 and its due diligence investigations into the shipping company early in 2011, after the line's request for more investment, unearthed the financial irregularities which led to the insolvency of Beluga.

Oaktree Capital Managaement subsequently created Hansa Heavy Lift, taking over a large part of Beluga's fleet and staff although it emphasised at the launch on June 1, 2011, that Hansa is completely separate from the Beluga Group.

Heavy Lift | News

Marine insurance: Reducing costs and capacity thumbnail image

Marine insurance: Reducing costs and capacity

September 19 - Marine insurance providers are commoditising their products in order to reduce costs. The result, according to the International Union of Marine Insurance (IUMI), is a loss of expertise.
Views: 327
Zeaborn forms JV with MPC thumbnail image

Zeaborn forms JV with MPC

September 18 - Zeaborn Group has formed a joint venture with MPC Capital Group to handle the chartering and commercial management of a fleet of more than 160 container and bulk carriers.
Views: 715
DHL strengthens network in Middle East and Africa thumbnail image

DHL strengthens network in Middle East and Africa

September 18 - DHL Industrial Projects is opening a centre of excellence (COE) in Dubai as well as offices in Egypt, Ethiopia, Kenya and Turkey to coordinate complex logistics projects in the Middle East and Africa.
Views: 829
ALE plans Swedish branch thumbnail image

ALE plans Swedish branch

September 18 - ALE will open an office in Sweden during the last quarter of 2019 as it looks to expand its operations in Scandinavia.
Views: 575

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