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Daily Briefing November 24 2020

Free to read: Newly sold Greek tankers sail for Venezuela defying US crude export sanctions | Greek owners urge priority vaccination for ‘heroes of the sea’ | Voting open for 2021 Shipping Outlook Forum poll

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




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What to watch


Greece-owned tankers involved in Venezuelan trades have been sold to unknown or anonymous owners before sailing to load their next cargo in the South American country.

There is increasing urgency for the International Maritime Organization to offer clarity on its medium and long-term measures to cut greenhouse gas emissions, so that owners will have confidence to invest in next-generation vessels.

Seafarers should be near the front of the queue for inoculating against the coronavirus when vaccines become available, the Union of Greek Shipowners has said.

Some 26 bulk carriers laden with Australian coking coal remain at anchor off China’s northern Caofeidian and Tangshan coal terminals — some for longer than three months — as a trade spat with Australia deepens.

The Lloyd’s List 2021 Shipping Outlook Forum takes place on December 1 and we need your input to help shape the discussion. Our online poll is now live, with 10 questions on the critical issues likely to influence maritime markets next year and beyond.


Analysis


The marine market has faced a difficult period, with high claims costs and more recently the hammer blow of the global pandemic. The forthcoming renewals are set to be challenging as carriers push for rate increases and take a tough line on risk selection.

Third quarter of the year results of container lines released over the past month have confirmed their exceptional year being experienced by carriers and indicate they may be heading for record profits.

Shipowners retrofitting technologies to reduce CO2 emissions are attracting the attention of cargo owners and bankers.


Opinion


The Lloyd’s List Podcast: Given the chorus of pro-LNG dual-fuel zealots out there right now, it’s perhaps surprising that LPG hasn’t managed work its way higher up the agenda. BW’s technology and operations chief Pontus Berg joins our reporter Inderpreet Walia this week to offer a fresh look at LPG.


Markets


The Swedish Club is set to seek rate and deductible rises for hull and machinery cover in 2021, a move in line with the current climate at Lloyd’s and elsewhere in the market.

Samsung Heavy Industries announced that it has signed a $2.5bn deal with a European company to provide ship blocks and other equipment.

The US Federal Maritime Commission has stepped up its efforts to find a resolution to the congestion problems and equipment shortages affecting US container terminals and shippers.


In other news


AqualisBraemar has agreed to buy LOC Group for $20.2m.

Höegh LNG is carrying out research into the use of its existing floating storage and regasification units for the storage and delivery of ammonia.

Oslo-listed Höegh LNG has sealed a term contract with India’s H-Energy for the supply of a floating storage and regasification unit.

Three crew members from a hijacked bunkering tanker have been kidnapped off Lagos, sources said.

Dimitris Mitsatsos has stepped down as director-general of the Hellenic Marine Environment Protection Association after 38 years amid widespread appreciation for his role as the anti-pollution body’s mainstay since its inception.

Diana Shipping slipped into the red in the third quarter due lower dry bulk charter rates and vessel impairment charges.

Tanker owner Tsakos Energy Navigation saw its share price jump by about 18% in New York early in Monday’s trading session after the company posted another profitable quarter and declared a dividend for shareholders.

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