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Daily Briefing June 3 2020

Free to read: US expands maritime sanctions list for Venezuelan trades | Seadrill posts $1.6bn loss, will drop New York listing | CMA CGM chief sets 2050 deadline for carbon neutrality | Hapag-Lloyd delays bunkering plans due to coronavirus disruption

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   |   Markets   |   In other news




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What to watch


The US has expanded a list of maritime companies and vessels it claims are linked to Venezuela’s oil sector.

Rig operator Seadrill will delist from the New York Stock Exchange and will undergo a capital restructuring after suffering a $1.6bn first-quarter loss, while acknowledging there is doubt if it can keep going.

CMA CGM chief executive Rodolphe Saadé has set an objective for the container line to be carbon neutral by 2050.

Hamburg-based Hapag-Lloyd is said to be reviewing its bunkering plans as a result of the impact of the coronavirus backdrop.


Analysis


Europe has four years to draft a coherent maritime policy for container line shipping that can replace the current set of consortia rules when they expire, say industry experts.

Another disappointing winter season is looming on the horizon for the liquefied natural gas trade and its associated shipping operators, going by early indicators flagged by analysts.

From the News Desk: Decarbonisation remains the biggest challenge facing the maritime industry but there are well-founded concerns that not enough shipowners are taking the issue seriously, while there are also question marks over the data being used by regulators to set targets and measure progress.


Markets


Trades in liquefied natural gas derivatives done on one benchmark price have surged over the past 15 months through to the coronavirus-hit first quarter, one leading pricing agency said.


In other news


Skuld has sold its Lloyd’s Syndicate 1897 to run-off specialist RiverStone for an undisclosed consideration, in move that draws a line under the P&I club’s ill-fated foray into the Lloyd’s market.

Standard Club is to switch to self management and will terminate its long-standing agreement with Charles Taylor, although the two sides will continue to work together in future.

Guidance on how resolve the problem of interoperability between “smart” containers has been issued by the Digital Container Shipping Association.

Polyolefins producer Braskem America has selected South Carolina’s port of Charleston to serve as a new global export hub in support of the firm’s US polypropylene production facilities.

China Cosco Shipping Corp has made changes in its top management, according to information from its official website.

While ports are well-placed to grasp the potential generated by the latest wave of technological innovation and integration, implementation remains slow and patchy, according to a report.

The joint venture firm Transportation Infrastructure Partners has acquired Carolina Marine Terminal, a multi-modal marine dry-good bulk port facility near the port of Wilmington, North Carolina.

Israel-based container line Zim has made a bold move in the transpacific market, launching a new dedicated express service from South China to the US west coast.

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