Banks make a cautious comeback in ship finance
Ted Petropoulos reviews the state of global ship finance and finds that a long-awaited recovery in bank lending to the industry in 2021 is already showing signs of stalling in 2022
Top Stories
Politics, macroeconomics and war unsettle outlook for marine insurance
Seeing the sector back in the black is positive for insurers — and ultimately for their shipowner clients too — but watch out for what could go wrong
Diversity, Equity and Inclusivity are vital to help shape a better maritime world
Bureau Veritas has moved quickly to promote DEI, accelerating since the All Aboard Alliance was formed
Spotlight
V.Group chief sees ESG as vital element of corporate strategy
Shipmanagers’ boss is adamant that there should be a separation between board chairman and chief executive if the G is to be embraced. Similarly, he believes S represents the resources needed to do good for the planet
Ship recycling feels impact of credit restrictions and currency turbulence
Upturn anticipated in scrapping sales amid falling freight rates for dry cargo and containership sectors
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The Lloyd’s List Podcast: Where is shipping in the zero carbon transition?
It seemed clear to everyone gathering in New York that the acceleration needed to move the shipping industry closer to the 1.5°C scenario will require unprecedented regulatory intervention, radical scaling of alternative fuel production and fleet readiness, disruptive technology inventions and substantial willingness to invest. But is shipping making any progress towards those goals?
Shipping Finance
Shipping finance is grappling with the big question of what is pragmatic and achievable as opposed to idealistic but over-ambitious when it comes to climate goals. Those at the top are struggling to maintain a vision, while the squeezed middle is happy to pay for availability and focus on the immediate markets.
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Green goes mainstream in shipping finance
Eleven out of 23 ship finance portfolios of Poseidon Principles signatories were aligned with the IMO's maritime decarbonisation targets, according to its latest report
Rhetoric vs reality: Shipping finance approaches an inflection point
Shipping finance is grappling with the big question of what is pragmatic and achievable as opposed to idealistic but over-ambitious when it comes to climate goals. Those at the top are struggling to maintain a vision, while the squeezed middle is happy to pay for availability and focus on the immediate markets
Chinese ship leasing struggles to weather anti-graft storm
Heaped compliance pressure, restrictions on using shipbrokers and concerns over further regulatory scrutiny could all slow business but lessors are said to remain active and keen to change the perception of them being out of the game. Their strategic importance to China’s shipbuilding industry will help keep them safe from any long-term impact from Beijing’s regulatory heavy-handedness
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: Unravelling IUMI 2022
The annual marine insurance confab, IUMI, was held in Chicago this year. So Lloyd’s List selflessly hopped on a flight with microphones in hand to gather insights from the sector’s most influential figures for this week’s edition of the podcast
The Lloyd’s List Podcast: Where is shipping in the zero carbon transition?
It seemed clear to everyone gathering in New York that the acceleration needed to move the shipping industry closer to the 1.5°C scenario will require unprecedented regulatory intervention, radical scaling of alternative fuel production and fleet readiness, disruptive technology inventions and substantial willingness to invest. But is shipping making any progress towards those goals?
The Lloyd’s List Podcast: Are shipowners the boiling frog?
Shipowners appear to be feeling pretty sanguine about the introduction of new carbon ratings from January 2023. Yes, there might be some slowing down and some retrofitting, but the initial implications are pretty limited. Or are they? Has the industry genuinely understood the implications of CII? Or are the owners suffering from boiled frog syndrome?
The Lloyd’s List Podcast: What keeps Robert Bugbee awake at night?
Scorpio Tankers’ bullish president Robert Bugbee is one of the industry’s most resilient optimists. So what, if anything, keeps him awake at night and why he would need a lobotomy before getting serious about ordering alternative fuels? All these questions and more are answered in this week’s edition of the Lloyd’s List Podcast
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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