Daily Briefing September 25 2020
Free to read: Crunch time for shipping’s green finance credentials | Banks warn against shutting out shipping from green financing | UK can lead shipping’s green recovery with the right support
Good morning. Here’s our quick view of everything you need to know today.
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The Poseidon Principles will reveal how close or far the global fleet is from the course to decarbonise, but can green bonds grow in shipping?
Shipping lenders say activities and assets that fall short of new ‘green’ investing criteria should not be overlooked, as they will power the industry’s emissions transition.
MISC, the Malaysian energy logistics company, is pressing on with pursuit of charters offering recurring returns that justify the required asset investments in new and existing markets.
NYK Line, the Japanese Shipping giant, expects to post a record ¥18bn ($17m) extraordinary loss from its dry bulker business as a result of redelivering chartered vessels.
Attribution of serious shipboard mechanical failure to ‘just a glitch’ is unsatisfactory from an operational, insurance and legal standpoint and the industry must put more effort into determining root causes, the International Union of Marine Insurance has been told.
If the UK maritime sector is to gain a substantial share of a global blue economy set to be worth over £2tn by 2030, it needs innovation and the right environment set by the government, writes Chamber of Shipping head Bob Sanguinetti.
Crude and clean productions held on floating storage have declined to the lowest in 21 weeks, as port congestion eased further in China.
US Gulf crude exports are forecast to drop by half over the next six months and bottom out at 1.4m barrels per day by April 2021 – a scenario which would add even further pressure on the moribund tanker market.
The trade dispute between China and the US has slipped down the news agenda in the past six months, but figures released by BIMCO show that tariffs imposed on Chinese imports are still having an effect on trading patterns.
Peel Ports, the UK port and terminal operator, has called for better utilisation of infrastructure following warnings of post-Brexit supply chain chaos at Channel ports.
The United Nations has been told that the crewing crisis could soon affect 1m seafarers and governments must act to avert a humanitarian crisis that has the shipping industry at breaking point.
Zim continues to foray into innovative niche segments with the launch of a reefer-focused express service linking China with major ports in Australia.
CMA CGM has agreed to buy a 30% stake in the French Groupe Dubreuil Group, expanding its presence into the airline space.