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Daily Briefing January 23 2020

Free to read: More banks pledge to align shipping lending to climate goals | Fafalios urges care over RD fund scheme | Dry bulk market remains challenging, says 2020 Bulkers chief | Cosco Shipping units cheered by profit surge

Daily Briefing

Latest Articles

Analysis and Comment

Scrubber premiums spike tanker earnings boost as fuel prices erode profits

Crude tankers fitted with exhaust gas scrubbers appear to be benefiting from the technology in the first month of 2020 as fuel price rises add a jolt of volatility to the market

Shipping said to be failing to attract institutional investors

‘Institutional investors own everything already and they can choose anything in which to invest,’ argues leading maritime asset manager

US will adapt ‘magic pipe’ recipe to new IMO rule violations

Many shipowners are said to be insufficiently aware of the expanded potential for criminal prosecutions in the US in cases of non-compliance with the new low-sulphur requirements

Long Beach port director delivers upbeat view for 2020

As a result of the recent Phase One trade agreement between Washington and Beijing, the Long Beach port supremo expects that ‘more markets’ will open up as China eases tariffs on US goods. Farm and energy exports in particular can expect an increase in volumes

US west coast coal export terminal row heads to court

Montana and Wyoming may be able to count on support from the Trump administration, which favours the export of coal and backs the opening of more export facilities in the country

West African pirates hijacking larger vessels to maximise ransom returns

West African gangs are extracting $30,000 to $50,000 per kidnapped crew member from insurance companies

See All

 

 


 

The Interview: Andrew Yeoman

Insurtech Concirrus has gone from a standing start in 2016 to build a customer roster that includes some of the biggest names in marine insurance. Chief executive Andrew Yeoman explains how he came to shake up an entire sector

International Big Interview Insurance

The Lloyd’s List Podcast: The view from Gothenburg

The Lloyd’s List Intelligence Executive Meeting is an annual Gothenburg gathering of shipping leaders and analysts who share views on how best to navigate the turbulent waters that lie ahead. While this is generally a pretty exclusive affair the podcast team were granted an access all areas pass and headed off to Gothenburg in search of insight. Featuring on this week’s edition with our Markets Editor Michelle Wiese Bockmann we have LLI’s lead analyst Christopher Palsson talking tanker numbers, ABB’s marine and ports head Jorgen Karlsoon talking tech and Stena Bulk chief Erik Hanell talking security and Stena Impero.      

 


Tankers

Scrubber premiums spike tanker earnings boost as fuel prices erode profits

Crude tankers fitted with exhaust gas scrubbers appear to be benefiting from the technology in the first month of 2020 as fuel price rises add a jolt of volatility to the market

Questions raised over environmental benefits of tanker age restrictions

The received wisdom that age restrictions should be placed on tankers to help generate environmental benefits has been questioned by a dissenting voice at Stena Bulk, whose chief executive argues that the shipping industry could cut its global emissions footprint by increasing the lifespan of vessels

Torm buys two LR2 newbuildings from GSI

The two vessels will be fitted with scrubbers and the potential for dual-fuel installation

India may benefit from low-priced LNG with Mundra start-up

Mundra and a second new terminal, Jaigarh, are expected to come online this year, bolstering India’s LNG import capacity

Read more
Sanctions

Flag registries drop Iran-linked ships amid sanctions scrutiny

Flag-shopping is one strategy to evade scrutiny used by about 40 tankers and gas carriers shuttling crude, fuel oil and LPG to China and Syria via ship-to-ship transfers and off-the-radar shipments

Iran’s flag-shopping fleet drags registries into sanctions net

Registries and flag administrations can expect the US authorities to pay close attention to anything that gives off the impression of circumventing the Trump administration’s attempt to strangle Iran’s trading power

Russian diluent heads for Venezuela via Gibraltar STS

Vessel tracking shows that state-owned Russian oil company Rosneft is supplying diluent via multiple ship-to-ship transfer shipments and voyages in which vessels ‘go dark’

US expands Iranian sanctions

Sectors identified for additional sanctions — including construction, manufacturing, textiles and mining — had already been targeted as a means to plug gaps in the existing sanctions regime

See All

Special Reports

In focus: Greece & Cyprus

This special report combines reports on Greece and Cyprus at landmark moments for both shipping communities

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

Future Fuels

Bureau Veritas says French-led coalition on decarbonisation is industry leader

BV’s commitment to a maritime energy transition coalition is just one of the partnerships the class society has joined as it seeks to advise shipowner clients on the decisions they have to make.

Star Bulk says fitting scrubbers was a right decision

The scrubber investment was a hedge against high fuel costs and was a medium-term solution for the company, which will now focus on decarbonisation efforts

US will adapt ‘magic pipe’ recipe to new IMO rule violations

Many shipowners are said to be insufficiently aware of the expanded potential for criminal prosecutions in the US in cases of non-compliance with the new low-sulphur requirements

Beijing formally unveils tax waiver for bunker fuel

Consumption tax was not mentioned in the announcement, but the levy should also be exempted, in line with similar tax rebate measures for oil products introduced previously

See All

 

Audio

The Shipping Podcast

Podcast Company News

From left: Christopher Palsson, Jorgen Karlsson, Erik Hanell
The Lloyd’s List Podcast: The view from Gothenburg

Listen to the latest edition of Lloyd’s List’s weekly podcast — your weekly briefing on the stories shaping shipping

Cormac Mc Garry, left, and Jakob Larsen
The Lloyd’s List Podcast: Is shipping at risk from Iran?

Shipping has once again been left with the threat of getting caught in the crossfire of escalating tensions in the wake of the US killing of Iranian general Qasem Soleimani. Joining the Podcast this week to discuss the risk assessment for shipping in the Strait of Hormuz are Bimco’s head of safety and security Jakob Larsen and Senior Maritime Analyst at Control Risks, Cormac Mc Garry

The Lloyd's List Podcast: That was the year that was

The London editorial team review the top stories of 2019 and make a few forecasts for 2020

The Lloyd’s List Podcast: Shipping's biggest questions answered by the experts

Lloyd’s List has been polling the industry on everything from AI to zero carbon fuels over the past months and the results formed the backbone of the discussions at our annual Outlook Forum in London last week, with a panel of experts offering the analysis and context. This week’s podcast offers you a few highlights from the events including views from Citi, Shell and Intertanko on: the greatest challenge to the future efficiency of operations in shipping, the greatest threat to the shipping industry over the next five years and the question of which fuel is going to propel shipping into a zero carbon future. 

Webinars


A tale of tension, transition and trade wars

Linton Nightingale

 

Geopolitical tension and trade hostility were among the overriding themes of 2019; the Lloyd's List Top 100 People seeks to add clarity to the narrative

A decade of maritime’s most influential players

Linton Nightingale

 

Documenting shipping’s trials and tribulations over the past decade, the rankings have also charted the rise and fall of shipping kingpins, while springing a few surprises along the way

Interactive rankings

 


View the interactive grid setting out the risers and fallers across the most influential people in the shipping industry

 

 

 

 




The Intelligence

Shipping heads hesitantly into a year of uncertainty

 

The Intelligence HP Stream Company News

Fuel change likely to generate insurance claims, say clubs

The wrong kind of bunkers can do serious damage to hull and machinery, thereby leading to insurance claims

Container shipping goes big on transition fuel

Emission control regulations have forced container lines to consider LNG as an alternative to scrubbers and low-sulphur fuel, with several carriers mulling conversions and newbuildings

The search for shipping’s green tipping point

Shipping is going to require clean, cheap energy to completely transition to zero-emission fuel options — and much depends on how quickly the cost of renewables can outpace carbon in the global economy

Newbuilding hiatus could be just the ticket

Whereas before size, durability and trade suitability would pre-empt the sign-off for newbuildings, adding fuel choice to the mix has brought a new layer of complexity for those responsible for vessel procurement

 

 

 

Lloyd's List Containers

Top container lines

Box carriers move into a new decade with a fresh set of challenges

 

Containers magazine HP stream Company News

Hamburg Süd cuts management post

Frank Smet to retire from German carrier after 27 years with company

PIL vessel detention linked to alleged unpaid bunker bill

Boxship detained at Durban anchorage over $6m fuel bill

Digital world
ICC signs deal to boost digitalisation of global trade and commerce

Top names signing up include APRIL, Japanese trading houses Marubeni Corporation and Mitsui & Co, major financial institutions Mizuho Bank, MUFG Bank, Standard Chartered Bank, Sumitomo Corporation, Sumitomo Mitsui Banking Corporation and Tokio Marine as well as Noble, NTT DATA, Sompo Japan Nipponkoa, in addition to DBS Bank and PSA International from Singapore

Bunkering barge and ship
Beijing formally unveils tax waiver for bunker fuel

Consumption tax was not mentioned in the announcement, but the levy should also be exempted, in line with similar tax rebate measures for oil products introduced previously

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