Daily Briefing June 5 2020
Free to read: Germany targets green shipping in coronavirus stimulus package | World trade recovery unlikely to be smooth or sudden, banker says | Benchmarking vessel risk | Changing trade lanes will not be plain sailing
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
What to watch
Germany wants to earmark €1bn ($1.13bn) in spending for shipping and another €9bn for hydrogen production projects as part of a national coronavirus recovery fund.
The recovery for world trade in the wake of the coronavirus pandemic will inevitably be uneven and could even prove “bathtub shaped”, according to panellists on a trade finance webinar.
Analysis
A sharp slowdown in container freight demand leads to an increased lay up of boxships. Non-operating owners bear the brunt of the unemployment.
Marine casualties, Automatic Identification System records, port calls and changes of flag, classification society or ownership all tell a story about a vessel’s behaviour. Interpreting these actions is a frequent request of our analysts. Now there is a tool to assist with that task.
The coronavirus pandemic is already seeing dog-whistle calls for protectionism and avoiding a reliance on China. Yet can globalisation be reversed — and what would be the impact on container shipping?
Markets
Beijing’s reported halt of US agri-products such as soyabeans, amid a new diplomatic spat, is expected to hurt bulker demand in an already weak market.
In other news
Maritime companies in the UK that hire foreign nationals for shore jobs should engage in the consultation exercise over the government’s planned points-based immigration system, to make sure the eventual scheme fits their needs, according to an immigration lawyer.
Tanker giant Frontline has launched a share sale, hoping to raise $100m to fund growth.
Myanmar has joined a growing league of liquefied natural gas importers in Southeast Asia.
Drug trafficking organisations will accept a 15% to 20% loss ratio, but with fewer containers to check in ports the odds are stacked further against them than normal.
Navios Maritime Holdings has said that it expects to acquire two debt-free panamax bulkers as part of the liquidation of Navios Group vehicle Navios Europe (II).
Two more Greece-based tanker owners have firmed up newbuilding projects, according to industry sources.
New York-based AMA Capital Partners has hired Royal Bank of Scotland shipping team veteran Nick Smith to beef up its presence in the European market.