Lloyd's List is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Daily Briefing March 13 2020

Free to read: Greek shipowners lead lucrative VLCC charter market | China ship calls return to previous levels | Singapore bunker fleet will expand despite oil price plunge | EU ministers welcome Green Deal

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




Print this briefing


What to watch


 

A week of inflated charter earnings persists as geopolitical uncertainty and oil market dynamics pushed average daily VLCC earnings to above $200,000 on Thursday. Over the past three days, Greek owners have taken the lead chartering out vessels.

As Europe and the US bring in increasingly restrictive measures to prevent the spread of coronavirus, figures from Lloyd’s List Intelligence show ship calls at China’s leading export hubs are back to normal seasonal levels.

Regardless of how oil prices may move, one top-rated bunker player is pressing on with its fleet renewal and expansion plan at the world’s busiest port for marine fuel sales.

The European Commission’s plan to include shipping in the European Union Emissions Trading System will require support from EU governments. In a public declaration, ministers supported the EC strategy for net zero emissions, but warned any measure has to be flag neutral and ensure a level playing field.


Analysis


The US Energy Information Administration has significantly revised its short-term outlooks for global oil supply, demand and prices.

Chad Lindsay, vice-president of labour relations in Southern California for the Pacific Maritime Association, made a plea for the introduction of automation as a means of preserving the dwindling market share of US west coast ports.


Opinion


The introduction of the International Maritime Organization’s sulphur cap should remind shipowners that some of the legal issues that arose from the OW Bunker bankruptcy remain unresolved, says Hill Dickinson.



Markets


This week’s oil price crash is predicted to hit US gas production hard while strengthening Qatar’s position, as oil drilling in the relatively higher-cost Permian Basin slows.

The $200bn deal cut some US tariffs on imports from China but failed to boost trade volumes in January, with manufactured, agricultural and energy goods down 26% on January 2017 levels.


In other news


The International Maritime Organization shut its headquarters in London and postponed more meetings after the World Health Organization designated the coronavirus outbreak as a pandemic.

Terminal operator Contship Italia expects volumes to be hit by coronavirus, but says its logistics operations can play vital role in keeping goods moving.

Maersk holding company appoints new board members: Claus Hemmingsen has had a 40-year career within the Maersk family of companies, while Dianne Greene brings in new blood from the technology sector.

Trade disruptions from global trade disputes, the coronavirus outbreak and regional geo-politics are a cause for concern. DP World remains positive on the medium to long-term outlook for the industry, however.

The Greek ferry sector faces taking an ‘enormous’ economic hit because of coronavirus considerations with traffic on all routes about 50% less than last year.

Cruise operators Princess Cruises and Viking are breaking off all activity until May. Two of Princess Cruises’ 18 cruiseships suffered coronavirus outbreaks.

Topics

UsernamePublicRestriction

Register

LL1132466

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel