Daily Briefing January 27 2020
Free to read: Coronavirus could adversely impact tanker market | Yard Talk: No end to state subsidy seen | The Lloyd’s List Podcast: All eyes on Doha | Pressure mounts for shipping to do the right thing
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 | Markets | In other news
What to watch
As fears about a coronavirus outbreak rise, the oil and tanker markets are seen as being most at risk if the situation escalates and the virus spreads rapidly to other countries.
The newly merged China State Shipbuilding Corp — now the world’s largest company of its kind — recently presented a reasonable financial performance for 2019, given the slack market conditions.
Analysis
Shipping has responded to environmental challenges through regulation, but it now needs to pay more attention to the social and governance aspects of doing business as well.
Opinion
The Lloyd’s List Maritime and Logistics Summit in Doha next month will hear how several elements of Qatar’s National Vision 2030 are closely aligned to evolving transportation, writes Richard Clayton.
The Lloyd’s List Podcast: Doha plays host to the Qatar Maritime and Logistics Summit next month, an event that promises to be one not to miss on the maritime calendar. Previewing the Summit we have event chair Richard Clayton, Mwani Qatar head of marketing Shammi Mohan, and Lloyd’s List’s Intelligence head of consulting Chris Pålsson.
Markets
Compliant fuel oil blends supplied at six ports have been found to contain sediments above the limit set out in an ISO marine fuel standard.
The US has imposed sanctions on six firms and two individuals tied to the National Iranian Oil Company, which it called ‘a source of funds’ for Iran’s Islamic Revolutionary Guard Corps-Qods Force and its terrorist proxies.
In other news
Thomas Miller-managed mutual insurers UK P&I Club and TT Club have joined forces to promote the latest version of the International Maritime Dangerous Goods Code, in an effort to reduce the incidence of fires on containerships.
International Group P&I clubs will increase the minimum deductible on excess war risks P&I cover by five-fold from next month’s renewal.
Maersk will raise its bunker adjustment factor from March 1 after the cost of very low sulphur fuel oil surged by 20% in Singapore, triggering a fee review.
Hapag-Lloyd chief executive Rolf Habben Jansen has confirmed that the line’s fuel bill is set to rise by around $1bn and warned that future environmental legislation could raise costs even further.
Danaos, the New York-listed containership owner, has made its second post-panamax purchase in quick succession after a five-year absence from the acquisition trail.