Daily Briefing September 30 2020
Free to read: Crewing crisis: Just how many seafarers are affected? | ‘Poor underwriting’ pushes P&I clubs to loss | Zim mulling IPO as it moves to pay down debt | Sovcomflot opens books to raise $534m on Moscow exchange
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
With the crew change crisis showing no sign of abating, how many seafarers are actually affected?
The financial performance of P&I clubs in the last policy year was characterised by bad underwriting, but they should nevertheless refrain from ramping up rates to replenish their coffers, according top broker Tyser.
Israeli shipping line Zim is launching a bid to pay down some of its debt.
CMA CGM has been criticised for a lack of communication following the ransomware attack that shut down its servers.
Analysis
Russia’s largest shipowner has opened up its books as it readies to list on the Moscow Exchange.
The dry bulk market is being vexed by logistical issues, and these could have upside potential for freight markets, according to shipping consultant Maritime Strategies International.
From the News Desk: Up to 1m seafarers could be impacted by the political impasse over crew changes as the UN is warned that a failure to act could result in a humanitarian crisis and risk the safety of global trade.
Opinion
It is ironic that a global crisis has been required to bludgeon world leaders into dealing with a global catastrophe. Shipping needs to work alongside the public sector to find sustainable solutions, writes Richard Clayton.
Markets
The capesize market has been given a boost by Brazilian activity and reported tightness in the Atlantic and Pacific basins.
Saudi Arabia has shipped 40 tonnes of blue ammonia to Japan as part of a pilot study in zero-carbon power generation, with a view to opening the way for further use of green fuels in the country’s energy system.
In other news
Scorpio Bulkers, a US-listed dry bulk owner, has started selling vessels as part of its move to focus on the offshore wind sector.
Singamas Container Holdings has warned of an adverse impact to its finances as a result of the debts owed by its parent company Pacific International Lines.
A containership is under escort after a successful operation to extinguish a serious fire on board, the Indian Coast Guard said.
Hyundai Hyundai Heavy Industries has secured orders to construct four very large crude carriers.
Hamburg Hafen und Logistik (HHLA) has acquired a majority stake in a multi-purpose terminal in the Adriatic port of Trieste, Italy.
A new technical investigation into the sinking of the Baltic Sea ferry Estonia has been prompted by TV documentary footage that appears to show a large hole in the vessel’s hull that was not mentioned in the official reporting into the disaster.