Daily Briefing March 20 2020
Free to read: Shipping forecasts fall as coronavirus effects hit | Seafarers must be exempt from travel bans | MSC attributes sulphur violation to coronavirus-related scrubber delays | Exclusive interview with John Denholm
Good morning. Here’s our quick view of everything you need to know today.
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What to watch | Analysis | Markets | In other news
What to watch
The speed and severity of the coronavirus outbreak combined with big recent geopolitical movements in the form of the breakdown of the Opec-plus agreement, has caused analysts to revise their 2020 forecasts for the shipping sector, in particular taking in the effect of China’s increased influence in global supply chains.
The world’s biggest shipowner and seafarer bodies are calling for seafarers to be exempt from national travel bans, while the head of the International Maritime Organization has called for pragmatism in dealing with crew changeovers.
Mediterranean Shipping Co has blamed delays in scrubber installation for MSC Joanna’s infringement against the 2020 sulphur rules in the United Arab Emirates.
Analysis
Incoming Chamber of Shipping president John Denholm, a fourth-generation shipowner himself, talks to Lloyd’s List and explains his mission to Make Britain Shipowner-Friendly Again.
Markets
Malaysia’s national oil company Petronas has suspended operations at the Garraf oil field citing concerns about the coronavirus pandemic.
Western Bulk, an Oslo-based operator of geared bulk carriers, has said it is cautiously optimistic about 2020 “despite the dim market outlooks” caused by the coronavirus pandemic.
Chemical tankers have a strong future ahead of them in 2020 and beyond despite the uncertainty caused by the coronavirus, according to shipowner Stolt-Nielsen.
In other news
Most P&I clubs emerged from the 2020 renewal round with the majority of their book intact and with their balance sheets strengthened by improved investment returns, according to a report from Arthur J Gallagher.
The Brazilian port of Santos continues to operate despite concerns by stevedores over health risks associated with coronavirus.
Zim expects its partnership with the 2M alliance and its agility will help it get through the worst impacts of the coronavirus outbreak as the Israeli line continues to pay down its debts.
Houston’s port closed its Bayport and Barbours Cut box terminals after a truck driver who worked at both tested positive for coronavirus.
Lloyd’s is to close its iconic underwriting room indefinitely in response to the coronavirus crisis, with the situation to be reviewed on a weekly basis.
Ferry company DFDS is suspending its outlook for 2020 and postponing dividend payments as Europe shuts down because of the coronavirus outbreak.
Cosco Shipping Energy Transportation has raised nearly Yuan5.1bn ($721m) in a long-awaited private offering that will be used to finance its newbuilding orderbook.
Dry bulk operator C Transport Maritime has said that its Supramax Revenue Sharing Agreement pool has reached “around 80 vessels”.
Australian authorities have partly backtracked on a directive that would have imposed restrictions on entry of foreign vessels to Queensland ports, after receiving requests for exemptions.
Maersk is adding further financial and digital firepower to its board of directors with the proposed election of Blythe Masters at the company’s annual general meeting to be held in Copenhagen next week.