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Daily Briefing August 11 2020

Free to read: Legal ‘grey’ zone said to complicate Beirut litigation | Mauritius fears stricken bulker close to breaking up | HMM to sell stake in ex-Hanjin terminal to CMA CGM

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




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What to watch


There is no binding international framework for the safe storage of ammonium nitrate on land, a factor that will complicate efforts to determine liability after last week’s catastrophic explosion in Beirut, according to a lawyer who has worked on similar cases.

Fears are mounting that more unsalvaged oil from the stricken capesize off Mauritius could seep into the ocean.

South Korean carrier HMM has agreed to sell a 50% stake minus one share in its wholly owned Total Terminal International Algeciras in southern Spain to French rival CMA CGM.


Analysis


The Lloyd’s List Podcast: After a short break, we are back and this week we are joined by Nobu Su, the former billionaire shipowner jailed in London over a long-running dispute about money owed in failed freight futures deals. He tells Markets Editor Michelle Wiese Bockmann about how the experience changed his life and why he is still determined to reveal the truth in order to clear his name.


Opinion


Cargo owners in the container trades have a quite different relationship with shipowners and operators than those in the bulk markets, but even so, carriers should seek the support of customers in highlighting the plight of seafarers, writes Janet Porter.


Shipping’s conferences and exhibitions, a focus of the industry’s networking, are unlikely to return to a normal schedule in 2021. Lockdowns will continue to dampen the spread of Covid-19 until widespread vaccination, writes Richard Clayton.



Markets


Clarksons, one of the world’s largest shipbrokers, said it remains confident the global shipping industry can bounce back from the coronavirus slump.


In other news


The International Maritime Organization has issued a revised schedule of meetings, which will be held virtually, starting in September

Safe Bulkers, the Cyprus- and Greece-based owner of dry bulk carriers, may look at acquiring one or more additional vessels with the proceeds of a new fundraiser for up to $23.5m.

CSSC (Hong Kong) Shipping has agreed a sale and leaseback deal for two product/chemical tankers linked with shipowner Goldwin Shipping.

Singapore sovereign wealth fund Temasek Holdings said it will not proceed with its conditional offer to take a controlling 51% stake in battered conglomerate Keppel Corp.

Dockworkers at the port of Montreal have launched an indefinite strike as part of a dispute concerning work schedules.

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