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Daily Briefing September 19 2019

Free to read: Insurers investigate scrubber risk and expect 2020 engine damage claims| Owners want a level playing field come 2020 | Oil supply is fine says IEA, but security is a concern | Market outlooks on capes, containers and VLGCs

Daily Briefing

Latest Articles


The Lloyd’s List Podcast and audio interviews


Lloyd’s List produces a weekly podcast that aims to take you behind the stories shaping shipping as well as regular audio interviews with some of the industry’s leading thinkers. You can listen online here or subscribe to the Lloyd’s List Podcast via iTunes and Spotify, as well as most other podcast providers. Our latest interview is with Astrid Seltmann who heads up IUMI's Facts & Figures Committee. Speaking to Lloyd’s List insurance reporter David Osler live from IUMI 2019 in Toronto, Ms Seltmann discusses IUMI's report on the state of marine insurance markets in 2018, and why a 1% rise in premium, while welcome, doesn't change the fundamentals

Special Reports

Maritime Cities: Building the connected cluster

Maritime cities must adapt to a changing landscape to maintain their hub status

Lloyd’s List Containers: Big interviews & big data

The latest magazine contains a trio of big-name interviews, including Maersk CEO Søren Skou, plus more on box shipping’s digitalisation journey

The Entrepreneurs

Why shipping needs to get better at matching good ideas with smart money

Stable showing

Linton Nightingale


Robust volume growth across China, backed by other strong regional performances, beefed up global throughput figures in 2018. However, it wasn’t all plain sailing for the elite box facilities

Port data



The figures behind the rankings. Compare and contrast different ports across multiple years

Port rankings



View the interactive grid setting out the risers and fallers across the one hundred ports





Analysis and Comment



Indonesia’s nickel ore export ban to hit supramaxes

The recent ban could mean the market will lose 2m tonnes a month of supramax cargo

Indonesia Dry Bulk Ultra and supras




Hot Topics

Making complex issues simple

Focusing on what matters to the market, understanding the forces that are shaping the industry






Hot topic Fuels Company News

Norgas Innovation at SLNG terminal
Ships reap huge savings from burning LNG at today’s prices

High-sulphur fuel oil prices surge after the crude oil outage at two plants in Saudi Arabia. This situation has has boosted liquefied natural gas’ cost advantage as a marine fuel

LNG on vessel
Shell and Qatar Petroleum set up LNG bunkering venture

The two companies will take equal ownership in the new venture, which aims to facilitate the sale of liquefied natural gas as a marine fuel to end customers around the world

Taking in bunkers
2020 sulphur cap to accelerate engine damage insurance claims

Marine insurers and underwriters cite the lack of specifications for blends of very low sulphur fuel oil

Shipowners urge universal 2020 enforcement

Industry bodies insist that global enforcement is required to avert an uneven playing field. ‘We urge any country considering deviation to abandon those ideas and put plans in place to fulfill their enforcement responsibilities’



Hot Topic one stream Company News

Tanker markets await word about time for repairs to Abqaiq

Additional storage facilities in Egypt, Rotterdam and Okinawa may ease a short-term supply gap, but are not geared for any long-term shortfalls — certainly not the 5m barrels per day lost during the time that it will take to repair Abqaiq

A worker refuels a car at a gas station in Jiddah, Saudi Arabia, Monday
Between Abqaiq and a hard place

While immediate attention is being paid to oil price rises, the eventual timing of a restoration of Saudi Arabia’s production and the intervening rejig of global energy supply routes will inevitably influence multiple key factors for shipping over the coming weeks

Stena Impero to be released by Iran ‘in days’

Iran claims the British-flagged tanker and 16 seafarers still held will be released once legal proceeding are completed

VLCC deck view
Cut in Saudi output to hit tanker rates, but prospects may brighten

If the Saudis can reduce the fall in output to 2m barrels per day, additional long-haul crude flows from the US and West Africa should then be able to support tonne-mile demand and shore up rates,says Shenwan Hongyuan Securities analyst Yan Hai



Market Commentary

Maersk cyber attack sparked genesis of Digital Container Shipping Association
Maritime industry must open up about cyber crime
Viewpoint: Enter the maritime micromanager



The Shipping Podcast

Podcast Company News

From the News Desk: 2050 is the new 2020 — an overview of London International Shipping Week

London International Shipping Week was dominated by discussions about the acceleration in the climate change agenda and how the shipping industry must deal with the ever-increasing spotlight on sanctions

The Lloyd’s List Podcast: LISW Day 5 – Our key takeaways from the week

The Lloyd’s List team have squeezed into their finest formal attire, popped a cork and gathered round the microphone to give you a prosecco-fuelled reflection on the blur that was London International Shipping Week. From zero carbon politics and 2050 targets to training and of course Brexit — we’re not short of an opinion or five on the biggest issues of the day. Consider this the digestif after the full fiver course tasting menu we’ve been serving you up all week in audio form.

LISW Podcast No. 4
The Lloyd’s List Podcast: LISW Day 4 — How to change the shipping industry

As we near the final mile of the London International Shipping Week marathon, we join two of the race leaders to reflect on the major themes of the week’s debate, including: political backing for shipping, financing the fourth industrial revolution and the benefit of robust debate, along with a little hirsute finance leadership. Joining Lloyd’s List Editor Richard Meade from the LISW conference today are Harry Theochari, global head of transport at law firm Norton Rose Fulbright and chair of Maritime UK, and Michael Parker, chairman of Citi’s shipping and logistics business.

Podcast at LISW Day 3
The Lloyd’s List Podcast: LISW Day 3 — The cost of zero-carbon shipping

How do we fund zero-carbon shipping and accelerate it beyond the current IMO targets? Double freight rates and use the IMO seems to be the message from today’s panel. Joining us on today’s edition from around London International Shipping Week we have a stellar panel of experts: businessman, academic and former chairman of the UK Financial Services Authority, Lord Adair Turner; Director of the Environmental Defense Fund (and former podcast guest) Baroness Bryony Worthington; and Grimaldi Group managing director Emanuele Grimaldi

The Intelligence

“I fear anarchy on the oceans”

Theodore Veniamis on 2020

The Intelligence HP Stream Company News

Tokyo: Japan’s mega city punches below its weight

Surveys of Tokyo’s relative status among its peers suggest it ranks lower than it should on a world scale 

London: Legacy of maritime expertise

Britannia no longer rules the waves, but London's world-beating cluster of white-collar shipping services leaves the UK capital with fair claim to be one of the world's major maritime centres

Hamburg: Bowed but not broken

With an enviable talent pool, Hamburg is diversifying to ensure it keeps its role as Germany’s premier shipping centre

P&I clubs warned over vessels bypassing sanctions on Iran

Shipping insurers put on alert after Lloyd’s List Intelligence data reveals suspicious patterns of behaviour by vessels in relation to trading with Iran in breach of US sanctions




Lloyd's List Containers

Søren Skou: Transforming Maersk



Containers magazine HP stream Company News

Taicang, China
Cosco Shipping Ports trims portfolio in Yangtze Delta

In what appears to be a revamp of its Yangtze River Delta portfolio, Cosco Shipping Ports is also looking to sell a container terminal at Taicang and the Jiangsu Petrochemical Terminal

Reefer industry braces for equipment shortage

With reefer fleet growth flat this year and reefer production in the second half of 2019 seen unlikely to meet requirements, major questions have been raised about where additional boxes will come from

Port of Oakland’s Chris Lytle wins ‘Connie’ Lifetime Achievement award

Connie Awards are presented annually to maritime industry leaders who have had substantial impact on container shipping. Lifetime Achievement awards recognise prolonged contributions to trade and transportation

One Stork
Container oligopoly’s capacity management will shape rates, not demand

The industry has gained the required agility to mitigate unfavourable macroeconomic events such as the US-China trade spat, says Seaintelligence