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Daily Briefing October 16 2020

Free to read: Industry mavericks’ proposals challenge shipping status quo | Crew change crisis: ‘Nothing is happening’, conference hears | Large bulkers divert to Philippines for crew changes | Industry call for taskforce to tackle crew change

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   |   Markets   |   In other news




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What to watch


From creating a data-sharing initiative to establishing a new crew change taskforce, the Global Maritime Forum is setting itself up as the shipping body for those who want more action, greater experimentation and less waiting.

Necessary technological improvements as a result of lockdowns have been far overshadowed by the serious and continuing problems the pandemic has created for seafarers, according to speakers at an industry gathering.

Capesize and panamax dry bulkers have been stopping off in the Philippines to enable crew changes, a factor that has contributed to tonnage tightness mainly in the Pacific basin.

Shipping needs a taskforce dedicated to standardising crew change protocols to resolve the humanitarian crisis that is threatening seafarers, according to Ocean Network Express chief executive Jeremy Nixon.


Analysis


Unilateral sanctions imposed on Iran and Venezuela by the US make it impossible for shipping to implement credible compliance, a senior State Department representative has been warned.

Shipping companies who choose to pay off ransomware hackers should carry out due diligence on whether the perpetrator is listed under US sanctions, according to a compliance expert.


Markets


The outlook for the shipping industry in the coming months will be dominated by the pace of economic recovery from the pandemic and rising costs associated with actions to mitigate risk.

Early indications suggest that significant container rollovers and subsequent supply chain disruptions will continue far into the fourth quarter of the year across Asia.


In other news


Kidnappings in West Africa’s Gulf of Guinea were up 40% in the first nine months of the year compared with the same time in 2019.

Hapag-Lloyd has updated its full-year guidance on the back of better-than-expected demand and higher revenue in the third quarter as the container shipping sector performs better than anticipated.

Owners who comply with environmental, social and governance criteria can in future expect bigger pricing adjustments than the market is currently providing.

Scorpio Bulkers, a US-listed shipowner and operator, is continuing its divestment of bulkers as it focuses on a transition to the offshore wind sector.

The US Coast Guard and the Army Corps of Engineers are currently assessing damage caused by hurricanes that have recently struck the US Gulf Coast, an area rich in oil and gas installations as well as ports, with the key Calcasieu Ship Channel still restricted for deep-draft vessels and no estimate on when it will be opened up again.

Zim, the Israeli container line, has named Yair Seroussi its new chairman.

Petronas, the national oil company of Malaysia, has signed a deal with privately owned Godell Gas International to develop a domestic liquefied natural gas bunkering sector.

Mediterranean Shipping Co and CMA CGM have completed their integration into the TradeLens blockchain platform as foundation members.

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