Daily Briefing December 21 2017
Geneva-based MSC is still looking for financiers to support $1.5bn worth of newbuilding orders
In today's briefing
Top stories:
MSC orders challenged by hesitation from Chinese lessors
Carbon emissions to be curbed up to 2050
OECD kick-starts talks over new shipbuilding competition regime
SM Lines considering partnerships to expand trades to US
Opinion:
A festive tax gift for Jones Act industries and US executives
Markets:
US west coast ports lose trade share in strong market
In brief:
Tufton Oceanic raises $91m with London listing
Delo buys 31% stake in Global Ports Investments
Ocean Alliance unveils new Day Two Product
UK trade union seeks EU recognition of seafarers' certificates post-Brexit
Cosco Shipping Energy Transportation embarks on share option scheme
ABS to class LNG bunker barge for Q-LNG
Cosco Shipping Specialised Carriers exercises option for one pulp carrier
PSA's BMCT inks pact for dedicated container rail service
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MSC orders challenged by hesitation from Chinese lessors
MEDITERRANEAN Shipping Co's $1.5bn worth of orders for 11 super-sized containerships appear to have encountered challenges in arranging finance, following pressure on Chinese leasing houses to keep their hands off the deal.
Market sources said the funding of the orders for five 22,000 teu vessels to be built by Daewoo Shipbuilding & Marine Engineering and six by Samsung Heavy Industries has yet to be finalised.
Top stories:
Carbon emissions to be curbed up to 2050
CARBON emissions from international shipping will be cut 25% by 2050, according to classification society DNV GL.
New carbon neutral fuels and lower vessel speeds will drive carbon reduction up to 2035, beyond which the take-up of new energy-efficient vessels and the shift to alternative fuels such as methanol and bio-fuels will determine overall CO2 emissions.
OECD kick-starts talks over new shipbuilding competition regime
THE Organisation for Economic Co-operation and Development has started talks about a new global shipbuilding competition regime, with all eyes on whether China would be willing to join.
Most members at the latest Working Party on Shipbuilding meeting agreed to develop a legally binding instrument to establish "a normal competitive condition" for the shipbuilding industry, said Kazua Nakao from Japan's Ministry of Land, Infrastructure, Transport and Tourism.
SM Lines considering partnerships to expand trades to US
SOUTH Korea's SM Line wants to expand its network by introducing more services on the transpacific trades to the US east and west coasts.
The company is exploring several options, including joint partnerships with compatriot shipping lines as well as overseas firms, an SM Line official told Lloyd's List.
Opinion:
A festive tax gift for Jones Act industries and US executives
WITH Christmas just around the corner, President Donald Trump is about to deliver a mega gift to the few shipping companies who pay US income taxes: more money in their corporate coffers, writes Lambros Papaeconomou.
The same goes for shipping executives who are US citizens or resident in the US. How will they spend their newfound wealth?
Markets
BIMCO's road to recovery
SHIPPING association BIMCO is expecting a profitable year for dry bulk shipowners and operators in 2018 if demand continues to outstrip supply.
With demand growth, led by China's appetite for high-quality raw materials, projected at 5% and fleet growth of 1%, the fundamental market balance will continue to improve, BIMCO said in a report.
Read the full report here
US west coast ports lose trade share in strong market
US WEST coast container ports are losing market share at a time when the eastbound Asia to North America freight market has continued its six-year run of strong demand growth, analysis by Drewry shows.
Terminals in Los Angeles, Long Beach, and Oakland are among those suffering as more cargo is moved through Canadian and US east coast ports.
Read the full report here
In brief
Tufton Oceanic raises $91m with London listing
TUFTON Oceanic Assets has joined the specialist funds segment of the London Stock Exchange main market after raising $91m in an initial public offering.
Delo buys 31% stake in Global Ports Investments
ONE of the largest private transportation and ports logistics holding companies in Russia has agreed to buy a strategic stake in the country's biggest ports operator.
Ocean Alliance unveils new Day Two Product
OCEAN Alliance will expand coverage of the US east coast when its four member lines refresh their network of services in April.
UK trade union seeks EU recognition of seafarers' certificates post-Brexit
THE UK government is being urged to ensure that seafarers' certificates will still be recognised in the European Union after Brexit.
Cosco Shipping Energy Transportation embarks on share option scheme
COSCO Shipping Energy Transportation has proposed a share option incentive scheme for its key personnel to achieve better performance.
ABS to class LNG bunker barge for Q-LNG
ABS has been awarded the contract to class the liquefied natural gas bunker barge that Shell will be chartering from Q-LNG to expand its LNG bunkering business in North America.
Cosco Shipping Specialised Carriers exercises option for one pulp carrier
SHANGHAI-listed Cosco Shipping Specialised Carriers has decided to exercise an option for one 62,000 dwt multipurpose pulp carrier, as offered in the newbuilding deal it signed earlier this year.
PSA's BMCT inks pact for dedicated container rail service
PSA International's unit Bharat Mumbai Container Terminals has signed a memorandum of understanding with the Container Corporation of India to operate dedicated rail services to optimise the transportation of containers to the hinterland regions of North and West India.
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