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Daily Briefing November 19 2019

Free to read: Hong Kong to remove profit tax for shipping lessors | MSC names Søren Toft head of container businesses | Cash buyer signals scrapping ‘deluge’ after ship recycling falls 35% | Toft’s surprise move makes good sense for both sides

Daily Briefing

Latest Articles

 

 



Lloyd's List Events

Decarbonisation and digitalisation: Where we’re at and what’s coming next

Opportunity is as much about disruption as it is about regulatory and technological uncertainties

Global Freight Awards will celebrate excellence in cargo shipping

Awards ceremony to be preceded by forum on preventing misdeclared cargoes

Lloyd's List Europe Awards finalists revealed

The Europe awards will recognise ‘Excellence in Shipping’

Lloyd’s List Asia Pacific Awards winners announced

Eastern Pacific Shipping won the Company of the Year award for its disciplined and bold decisions to invest in the right assets at the right time

Analysis and Comment

Ocean freight customers face significant fuel price rise next month

Customers with annual contracts have been requested by some carriers to start paying an International Maritime Organization bunker adjustment factor from December

Toft’s surprise move makes good sense for both sides

The Aponte family has kept a firm grip on MSC, but bringing in outside expertise is understandable at a time when container shipping is being pulled in so many different directions by new technologies, environmental regulations, cyber risk, geopolitics, cargo safety, consolidation, and the need to transform the industry into one of sustained profitability 

US gasoline and blendstock imports gain as European shipments slow

Refineries switching over to very-low sulphur fuel oil is starting as shipowners begin using lower-sulphur bunkers as mandated by the International Maritime Organization regulatory changes

IMO snubs mandatory speed limits

Regulators in London have shunned speed limits in favor of target-based greenhouse gas measures in a crucial loss for the proposal

Courts shine spotlight on shipping’s ‘victimless crime’

Insurance fraud is contrary to all known ethical codes, religious or secular. It is also a serious criminal offence, which leaves perpetrators open to prosecution

The Lloyd's List Podcast: Have mandatory speed limits hit a road block?

The campaign for mandatory speed limits for shipping suffered a blow during technical talks at IMO this week. For some that is crucial mistake and a missed opportunity. For others it is an effective strategy to reduce emissions. In this week's podcast we get the view from both sides: Danish Shipping director Maria Skipper Schwenn and Transport & Environment shipping analyst Faig Abbasov explain what the future is for decarbonisation

See All

 

 


 

The Interview: Bronson Hsieh

After three years at helm, the chairman of Taiwan-based Yang Ming has put the idea of ordering super-sized boxships on the back burner, with The Alliance to welcome a new member next year. His optimism about the market prospects is laced with caution and he believes the company’s investment in scrubbers will pay off. For all those wondering, the merger between Yang Ming and Evergreen is ‘unlikely’

Containers Environment Fuels

The Lloyd’s List Podcast: Trade, Trump bashing and the unstoppable rise of Chinese leasing

The Lloyd’s List Podcast is in Shanghai this week where China’s President Xi Jinping has been leading the discussions around trade policy and Chinese shipping giant Cosco has been talking up the value of a multi-lateral, value-added approach to supply chains. Joining Lloyd’s List Editor Richard Meade to discuss everything from trade policy and Trump bashing to Chinese leasing and why cargo interests are leapfrogging shipowners in news deals are China Editor Cichen Shen and special guest Bill Guo, executive director of the Chinese leasing giant ICBC. 


Tankers

Euronav gains two suezmaxes with joint venture

The very large crude carrier giant partners with ‘affiliates of Ridgebury Tankers’ and ‘clients of Tufton Oceanic’ to set up 50:50 joint ventures for each vessel

VLGC spot rates rise to five-year high

Renewed levels of charter enquiry in the Middle East Gulf drove the rise

Iraq’s port of Umm Qasr disrupted by more protests

The port was working at 50% of capacity and operations may be completely halted if the protests continue, port officials told Reuters

 

Hong Kong to remove profit tax for shipping lessors

Frank Chan, secretary for transport and housing of the city’s government, tells a shipping conference that the leasing houses providing ship finance will have their profit tax rate cut down to zero

Read more
Sanctions

Rosneft grapples with unsold Venezuelan crude as exports slump

Rosneft’s trading arm is vital to Venezuelan crude sales as Chinese refiners shun direct purchases since the US administration tightened sanctions in August. Instead Venezuela to China shipments arrive via Malaysia, through ship-to-ship transfers undertaken from Rosneft-controlled tankers

Britain reduces threat level for shipping in Strait of Hormuz

Britain has officially lowered its risk assessment for UK-flagged ships transiting the Strait of Hormuz. They will soon be able to proceed without naval accompaniment, according to the Department for Transport

US says Cosco is not untouchable

US Deputy Assistant Secretary of State warns the industry still has some way to go, despite progress in ensuring sanctions compliance

Tanker markets can look back on an extraordinary year

The pace and duration of further falls of VLCC-assessed rates will be tested by the global economic headwinds and revised oil demand forecasts

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

Ocean freight customers face significant fuel price rise next month

Customers with annual contracts have been requested by some carriers to start paying an International Maritime Organization bunker adjustment factor from December

Malaysia bans open-loop scrubbers

Vessels calling Malaysian ports have been advised to change to compliant fuels or change over to closed-loop scrubber systems before entering Malaysian waters and ports, the notice said

US gasoline and blendstock imports gain as European shipments slow

Refineries switching over to very-low sulphur fuel oil is starting as shipowners begin using lower-sulphur bunkers as mandated by the International Maritime Organization regulatory changes

The Lloyd's List Podcast: Have mandatory speed limits hit a road block?

The campaign for mandatory speed limits for shipping suffered a blow during technical talks at IMO this week. For some that is crucial mistake and a missed opportunity. For others it is an effective strategy to reduce emissions. In this week's podcast we get the view from both sides: Danish Shipping director Maria Skipper Schwenn and Transport & Environment shipping analyst Faig Abbasov explain what the future is for decarbonisation

See All

 

Audio

The Shipping Podcast

Podcast Company News

Podcast 15 Nov 2019
The Lloyd's List Podcast: Have mandatory speed limits hit a road block?

The campaign for mandatory speed limits for shipping suffered a blow during technical talks at IMO this week. For some that is crucial mistake and a missed opportunity. For others it is an effective strategy to reduce emissions. In this week's podcast we get the view from both sides: Danish Shipping director Maria Skipper Schwenn and Transport & Environment shipping analyst Faig Abbasov explain what the future is for decarbonisation

The Lloyd’s List Podcast: Trade, Trump bashing and the unstoppable rise of Chinese leasing

The Lloyd’s List Podcast is in Shanghai this week where President Xi Jinping has been leading the discussions around trade policy and Chinese shipping giant Cosco has been talking up the value of a multi-lateral, value-added approach to supply chains. Joining Lloyd’s List Editor Richard Meade to discuss everything from trade policy and Trump bashing to Chinese leasing and why cargo interests are leapfrogging shipowners in news deals are China Editor Cichen Shen and special guest Bill Guo, executive director of leasing giant ICBC. 

The Lloyd's List Podcast: Why environmental protection will trump trade

Environmental protection is ultimately going to trump trade, according to our podcast guest this week — the IMO’s head of air pollution and energy efficiency, Edmund Hughes. Speaking to Lloyd’s List Editor Richard Meade and reporter Anastassios Adamopoulos in this week’s edition, he talks us through his confidence about 2020 implementation, the lessons learned in lowering sulphur that might help the decarbonisation debate, and the role of the IMO amid rapidly changing political dynamics 

The Lloyd’s List Podcast: Shipping and the law

The Podcast is in Naples this week as our law and insurance expert David Osler talks over the legal challenges of autonomy, Brexit and 2020 sulphur rules with some of the shipping industry’s finest legal minds. Featuring this week are: Mans Jacobsson, the now-retired former director of the International Oil Pollution Compensation funds; Tiejha Smyth, a solicitor who now works as deputy director of freight, demurrage and defence at North Group; James Leabeater QC and Hamish McRae, one of Britain’s best-known economics journalists

Webinars

The Intelligence

Future Fuels

The search for shipping’s green tipping point

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

Xu Lirong Steering China’s shipping giant

 

 

Containers magazine HP stream Company News

Boxship taking on bunkers
Ocean freight customers face significant fuel price rise next month

Customers with annual contracts have been requested by some carriers to start paying an International Maritime Organization bunker adjustment factor from December

EM Spetses
Euroseas acquires four vessels from Synergy for $40m
`This is a significant transaction for the company as it takes a meaningful presence in the panamax markets,' chief executive Aristides Pittas said
Maersk Line chief operating office Søren Toft
Toft’s surprise move makes good sense for both sides

The Aponte family has kept a firm grip on MSC, but bringing in outside expertise is understandable at a time when container shipping is being pulled in so many different directions by new technologies, environmental regulations, cyber risk, geopolitics, cargo safety, consolidation, and the need to transform the industry into one of sustained profitability 

Iraq flag_Shutterstock_Den Rozhnovsky
Iraq’s port of Umm Qasr disrupted by more protests

The port was working at 50% of capacity and operations may be completely halted if the protests continue, port officials told Reuters

 

 

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