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
Good morning. Here’s our quick view of everything you need to know today.
The Lloyd’s List Daily Briefing is brought to you by the Lloyd’s List News Desk.
What to watch | Analysis | Opinion | In other news
What to watch
Hong Kong is keen to defend its position as a leading maritime hub by increasing efforts to attract more shipping activities. A set of tax breaks being discussed by policymakers are expected to be enacted next year.
Mediterranean Shipping Co has announced the appointment of Søren Toft as chief executive of its container businesses.
Global ship recycler GMS has raised concerns about a potential “deluge” of vessels being put up for sale for scrap as freight rates for containerships and bulkers cool and new sulphur rules take effect on January 1.
Analysis
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.
Internet access is a key consideration for seafarers when selecting where they work, a new survey has found.
Opinion
Former Maersk executive Søren Toft will help to share the load at the top for MSC’s Aponte family which heads one of the world’s biggest shipping empires, writes Janet Porter.
The Lloyd’s List Podcast: 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.
In other news
Three Ukrainian naval ships seized in the Black Sea a year ago by Russian forces have been released, according to Reuters.
Nimble offshore supply vessel group Nam Cheong continues to morph its business strategy by planning a move into offshore project engineering as it takes over a facility in Malaysia’s offshore centre of Labuan.
Political unrest has again hit Iraq’s Umm Qasr port, according to media reports. In a repeat of protests seen at the end of October with operations likely to be halted.
Internantional Container Terminal Services’ bid to develop central Philippines ports in Iloilo have taken a step forward with the port operator gaining acceptance from the Philippine Ports Authority.
The Port of Hong Kong continues to maintain its place as a key transhipment port in Asia with the call of MSC Isabella during the weekend on the completion of its maiden round trip on MSC’s Swan service.
Indonesia’s Kuala Tanjung Port is looking to tap the Chinese market after signing a deal with Ningbo Port to provide direct shipping services.
RMK Maritime has hired two ship finance veterans to expand its London office.