Daily Briefing July 7 2020
Free to read: Coronavirus impact weighs heavy on China’s expansion projects | Ardmore Shipping Rejects Hafina Merger Proposal | Iran accused of running shipping network to avoid US sanctions
Good morning. Here’s our quick view of everything you need to know today.
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What to watch | Analysis | Opinion | Markets | In other news
What to watch
China’s frank admission that about 20% of Belt and Road Initiative projects have been seriously affected by the coronavirus pandemic brings port-related projects within the initiative into focus.
Ardmore Shipping has rejected a merger proposal from Hafnia, the second-largest owner and operator of product tankers.
Iran’s Revolutionary Guards operate their own shipping network that has exported millions of dollars’ worth of crude and products over the past year, according to US prosecutors.
Analysis
When the coronavirus outbreak led to the closure of vast swathes of economic activity from March it appeared that container lines would be in for a rocky ride.
As ports around the world report a return to “business as normal”, container terminals are facing new challenges.
Opinion
Lloyd’s List Podcast: BIMCO president Şadan Kaptanoğlu tells Editor Richard Meade about shipping’s new normal, how shipping can better communicate both internally and externally and what the global economic turbulence means for shipping over the coming years.
Markets
A frenzy in the oil shipping market during the first half this year has boosted the bottom line of China Merchants Energy Shipping.
The Suez Canal Authority will give an 8% toll rebate to vehicle carriers, the latest in a series of concessions to draw vessels from the Cape of Good Hope as transits have fallen.
Container volumes bounced back in May from rock-bottom levels the previous month but remain well down on where they were at the corresponding time last year.
In other news
CMA CGM is to merge its transpacific operations under the CMA CGM brand and retire APL to focus on US government work with its US-flagged fleet.
Better recording and reporting of seafarer suicides are needed as crews are forced to work beyond their contracts due to coronavirus travel constraints, according to Seafarers UK.
Containerships, the shortsea subsidiary of CMA CGM, has appointed Rob Waterman as its chief executive.
Maersk has taken another step in its vertical integration of the container supply chain with the $279m acquisition of Swedish customs brokerage KGH Customs Services.
Mediterranean Shipping Co has again been named as one of Europe’s main carbon emitters.
Port of Gothenburg’s new transhipment terminal is nearing start-up.