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Daily Briefing November 25 2020

Free to read: Resold China-flagged tankers lift first Venezuelan cargoes in six months | Starved shipbuilders offered ray of light | Offshore wind needs $12bn of investments in new vessels

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


Tankers flying flags of China and Vietnam have resumed shipping sanctioned Venezuelan crude, often switching off vessel-tracking signals to obfuscate the cargo’s origin and destination.

Order-thirsty shipbuilders have seen a glimmer of hope recently, with a strong undercurrent of business activity. Yet that is still not enough to brighten their prospects.

Offshore wind is garnering a lot of attention, pegged at the fastest growing energy source.


Analysis


The outlook for marine insurance in the year ahead can be summarised in just two words: more expensive.

From the News Desk: The International Maritime Organization has approved new emissions measures for ships, but many stakeholders made it clear the plan is not ambitious enough.


Opinion


In focusing on industry sustainability objectives through the digital lens we can lose sight of the people involved in those tasks, writes Christopher Wiernicki, chief executive of the class society ABS.



The Hong Kong Ship Finance & Law online forum is now available to watch on demand.




Markets


Australia’s wheat exports to Southeast Asian countries are expected to significantly benefit demand for supramaxes and handies, partly offsetting the negatives from the Chinese coal ban

Northern Europe’s major box ports are still suffering from reduced volumes and have yet to benefit from the recovery that has provided a large financial boost to their container line customers

Two more International Group affiliates have announced their pricing intentions for the next renewal round, with North seeking a 10% general increase and the American Club opting for 5%.


In other news


The UK Chamber of Shipping wants regulators to begin discussing market-based measures for shipping emissions as soon as possible. But it also warned the priority should be setting up the industry-backed $5bn research and development fund.

A second vessel has run aground at the scene off the eastbound lane of the Singapore Strait where another ship became stuck six months ago.

The World Shipping Council has named Rolf Habben Jansen and Jeremy Nixon as joint chairmen of the organisation, filling the role being vacated by Ron Widdows.

A US court has approved offshore drilling contractor Noble Corp’s Chapter 11 restructuring plan, clearing its path out of bankruptcy.

Hong Kong has always been dependent on free and open global trade for its future and will need to rely on as well as balance the role it plays in relation to mainland China.

Singapore’s piracy watchdog has reported a rise in thefts from vessels on the Singapore Strait.

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