Russia adds compound interest to shipping’s challenges
The accumulation of disruption and supply chain shocks are transforming global trade as governments and businesses look to exchange efficiency for security
Top Stories
Anonymous Chinese shipowner spends $376m on tankers for Russian STS hub
Evolving marine transport model seeks tankers to operate outside established markets, yet remain compliant with class, insurance and other regulatory and technical rules
Daily Briefing August 10 2022
Anonymous Chinese shipowner spends $376m on tankers for Russian STS hub | More vessels carrying grains depart Ukraine | Talks to avert Felixstowe port strike break down
Sustainable financing propels MISC’s ESG ambitions
The global focus on environmental, social and governance (ESG) principles has led to the worldwide expansion of sustainability-focused investments
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Spotlight
LNG retrofit ‘improves carbon ratings’, study finds
SEA-LNG study claims $30.3m retrofit cost to use liquefied natural gas as marine fuel is ‘win-win’ for environment
EuroDry fleet expansion programme boosts earnings
Chief executive Aristides Pittas says rates remain profitable despite a near 40% plunge since late May
The Lloyd’s List Podcast: How shipping is managing the risk of lifting Ukraine grain
The deal to allow the safe transport of grain out of the Ukraine by sea is an unprecedented agreement between enemy combatants, but it is still a work in progress and the list of potential risks that could yet scupper it are long. This week we talk to war risk expert and head of marine and aviation at the Lloyd’s Market Association Neil Roberts about the insurance hurdles yet to be overcome. And we talk to Anna Biliuga, an agent for Eurogal Services, which acts as Lloyd’s agents inside Odesa, for a personal take on how the grain deal will play out on the dockside
Half-Year Outlook 2022
The war in Ukraine, China lockdowns, supply-chain disruptions, and the risk of so-called ‘stagflation’ mean recession for many countries will be hard to avoid. The consequences are not yet playing out in the shipping sectors reviewed in this outlook report, but even in containers where rates remain high and cash is still flowing, executives are already planning for the post-pandemic party hangover.
Click here to view the full report
FREE TO READ
Marine insurance: More stable P&I rates, more expensive H&M
The International Group is about to shrink from 13 members to 12, with mixed predictions on the impact on shipowners; but can another renewal round characterised by stiff rate hikes be avoided?
Dry bulk: Growing demand risks unlikely to upend strong rates
Slowing fleet growth is expected to support dry bulk rates, even as demand concerns emerge due to inflationary pressures globally
FREE TO READ
Ship finance: Falling cost scorches ‘alternative’ lenders
With many shipowners making more money than they can remember, and banks willing to cut margins to keep the business, it’s a buyer’s market and likely to remain so while good markets last
Special Reports
As part of our Future of Shipping programme industry leaders and sector experts map the path to a sustainable and profitable future.
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The future of shipping: Andrew Forrest
‘The shipping industry itself has set itself a pretty mealy-mouthed target of 5% by 2030. I think that 15% is a respectable target. By 2030 we shouldn’t have any engines which are not dual-fuel capable so that by 2040, we’ve got a shipping industry which can go carbon neutral.’
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The future of shipping: Bo Cerup-Simonsen
‘We are at an inflection point. First mover activities are going to inform and inspire the rest of the industry. They need to be enabled and supported, meaning that individual governments need to engage in this process and make sure that we have regulation in place that supports it in the interim until we get global regulation in place.’
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The future of shipping: Hugo De Stoop
‘We need to get closer to our customers and co-operate on making this industry more efficient. Because there’s so much waste. The moment you put a value on carbon and decreasing the carbon footprint, I think that people have a tendency to be more friendly, open to discuss and see how they can co-operate together.’
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The future of shipping: Jan Dieleman
‘There are some tough decisions to be made, but I think the reality is the old business models that we had are not going to survive this and I think that a lot of companies will have to figure out how they actually deal with this. So, I really want to see that happening between us and our clients and I believe that that will mean a dramatic change of the contractual relationship that exists between the two of us.’
The Shipping Podcast
The Lloyd’s List Podcast: Shipping’s multifarious multi-fuel future
Imagine pulling up to the petrol pump in your car and being confronted with 20 pumps, each offering various blends of different fuels. Now imagine a scenario where at each petrol station you visit next, that choice of different fuels is going to be entirely different. Welcome to the future of shipping
The Lloyd’s List Podcast: How shipping is managing the risk of lifting Ukraine grain
The deal to allow the safe transport of grain out of the Ukraine by sea is an unprecedented agreement between enemy combatants, but it is still a work in progress and the list of potential risks that could yet scupper it are long. This week we talk to war risk expert and head of marine and aviation at the Lloyd’s Market Association Neil Roberts about the insurance hurdles yet to be overcome. And we talk to Anna Biliuga, an agent for Eurogal Services, which acts as Lloyd’s agents inside Odesa, for a personal take on how the grain deal will play out on the dockside
The Lloyd’s List Podcast: It is time to take another look at recycling
Ship demolition rates may be at a 10-year low, but that is exactly the right time to look at the future of recycling. GMS chief Anil Sharma joins the podcast this week to talk about current market conditions, the impact of regulatory pressure and how shipping can create a more circular economy
INTERVIEW
The Lloyd’s List Podcast: Fire, fraud and murder on the high seas
Shipping’s darker episodes often read like true crime, but the case of the Brilliante Virtusoso raises important questions about the opaque underbelly of the shipping industry as well as the insurance and legal markets that support it. Kit Chellel, one of the writers who pieced together the astounding truth behind one of the most brazen financial frauds in history, joins the podcast this week to discuss his remarkable book that everyone should be taking away to the beach this summer — Dead in the Water.
Webinars
Shipping skills will sort the winners from the rest, webinar hears
The skills landscape is changing. Traditional ways of bringing seafarers into the office, while good in keeping in touch with the sea, will not meet the needs of a digitally-enabled, purpose-driven business
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