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Daily Briefing November 20 2020

Free to read: Governments split on market-based measures for emissions | German owners back new IMO line on greenhouse gases | Armed guards ‘not the answer’ to piracy threat

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


Governments meeting at the International Maritime Organization this week were divided on beginning politically tense negotiations on market-based measures, setting the scene for the next major regulatory battleground for greenhouse gas emissions from shipping.

The European Commission has welcomed the approval of a new global greenhouse gas emissions-cutting measure but has reiterated plans to include shipping in its carbon market regime.

The German Shipowners’ Association has hailed carbon dioxide emissions reduction proposals adopted by the International Maritime Organization’s Marine Environment Protection Committee as a major step forward for the industry.


Analysis


Shipowners considering turning to armed guards to protect vessels in the Gulf of Guinea have been warned that more firepower is not the answer.

US-listed dry bulk owners are feeling positive about future prospects for the sector.


Markets


Golden Ocean, John Fredriksen’s dry bulk outfit, expects a strengthening market in 2021 and beyond, although near-term pressures may remain due to additional lockdowns in countries seeing a rise in coronavirus cases.

US west coast ports have all reported increased containerised throughput for the month of October, with Los Angeles and Long Beach seeing the highest monthly volumes in their history.


In other news


London-based freight forwarding and supply chain finance company Beacon has opened an office in Hong Kong, hoping to support a growing customer base and expand its global footprint.

Classification society Rina has become the latest maritime company to be hit by a cyber attack, which it describes as having been blocked, according to its website.

DP World’s terminals at Southampton and London Gateway plan to return to ‘business as usual’ this month after ‘unprecedented’ inbound container traffic in recent months that has led to longer vessel dwell times and slower processing of inbound containers.

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