Daily Briefing August 25 2020
Free to read: Box lines set to shrug off negative impact of pandemic | Tanker market faces an uncertain period | Box carriers face ‘unreasonable conduct’ complaint in US | Reefer cargoes withstand pandemic pressures
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
What to watch
The strict capacity management applied by container lines during the coronavirus pandemic could see the sector as a whole more than doubling its full-year profit, despite a slump in volumes in the first half of the year.
The tanker market has seen good fortunes this year despite the coronavirus pandemic, but for those prepared to believe it, the rest of the year looks very uncertain.
Intermodal road freight representatives have filed a complaint in the US accusing foreign-owned container lines of engaging in “unjust and unreasonable conduct” costing hundreds of millions of dollars each year in inflated charges for intermodal container chassis.
Analysis
Containerised refrigerated cargo growth is expected to outpace dry cargo during the next four years as the sector is better placed to withstand the pandemic-driven downturn in demand for consumer goods and the more resilient nature of the food supply chain.
Shipping must look to new fuels if it is to meet its target of halving emissions by 2050. Yet the alternatives throw up serious safety concerns in which the industry has little experience.
Opinion
Lloyd’s List Podcast: Lindsay Malen-Habib, president of the American Salvage Association, and Susan Oatway, the first woman chair of the Institute of Chartered Shipbrokers, talk us through their roles talk us through their roles and their priorities.
Markets
Orient Overseas International Ltd has remained cautious about the container shipping outlook amid the coronavirus impact, despite a demand recovery and profitable first half of the year.
In other news
The boarding of chemical tanker Aegean II off Somalia shows the risk to shipping has not disappeared despite vastly reduced attacks. Ships are travelling closer to the Socotra Gap, where piracy clans are still active.
The Chinese coastal tanker that caught fire after a collision with a sand barge in the Yangtze River estuary last Thursday has been towed to safer waters during the weekend, according to Lloyd’s List Intelligence.
Lloyd’s Register marine and offshore director Nick Brown has been named as chief executive of the entire group.
The Lim family no longer holds any management roles in an investment holding firm linked to the bulk of its 136-strong tanker fleet.
Intra-Asia feeder line SITC, like many other container lines reporting recently, turned in a first half of the year profit, but the gains in this case were primarily driven by lower costs rather than higher freight rates.
Maersk has invested in Australian logistics start-up Ofload, as the Danish giant strives to lead the digitalisation efforts in container transport.
UK ports should begin considering the implications of autonomous shipping on their operations, according to the British Ports Association.