Daily Briefing November 26 2020
Free to read: Maersk Product Tankers linked to $400m deal for 14 MR vessels | Greek-owned aframax damaged in blast off Saudi Arabia | Call for scrubber phase-out on ships on environmental concerns
Good morning. Here’s our quick view of everything you need to know today.
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What to watch | Analysis | Opinion | Markets | In other news
What to watch
Maersk Product Tankers is said to be selling 14 of its modern medium range product tankers to CDB Financial Leasing for over $400m under a sale and leaseback deal, Lloyd’s List understands.
A Greek-owned aframax tanker has been damaged in a suspected mine attack off Al Shuqaiq, Saudi Arabia.
Existing guidelines for scrubber operations need to be reviewed and strengthened with a view to banning the sulphur abatement technology all together, a study by the International Council on Clean Transportation concludes.
Analysis
Uncertainty as a result of the coronavirus pandemic has ship orders sinking to an all-time low in 2020 as the industry continues to assess the short-term impact of the health crisis.
The obligation for an Inventory of Hazardous Materials for ships calling at EU ports has been complicated by the coronavirus pandemic.
Weekly briefing: Maersk, CMA CGM and Zim all posted strong earnings in the third quarter to underline the exceptional year that leading container lines have had.
Opinion
The Greek Shipping Awards 2020 are now available to watch online.
Markets
BIMCO remains cautious over the recovery of the dry bulk freight market in 2021 despite a 20-year low in fleet growth.
Next year’s outlook for container lines remains clouded but it is unlikely that 2021 will be as profitable for carriers as this year has turned out to be.
In other news
The UK’s container ports are witnessing freight volumes up to 20% higher in November than those handled last year as the pandemic takes its toll on supply chains.
Tanker giant Frontline is the latest to forecast an uncertain and slower-than-anticipated recovery for the global fleet of crude and product tankers, as pandemic-induced oil demand shock continues to roil markets.
Transitioning from fossil-based to bio-liquefied natural gas offers a clear commercial advantage over switching to zero-carbon fuels like green hydrogen and ammonia, one joint study by an LNG-focused group of advocacy bodies said.
The Federal Maritime Commission is to increase the level of its monitoring of the major container line alliances by requiring them to file carrier-specific trade data on a monthly basis.
The London Club has joined the rush of International Group affiliates announcing substantially higher pricing for next year, with a general increase of 10% for both P&I and freight, demurrage and defence at the next renewal round.
Problems with reefers going into Tianjin’s port of Xingang due to coronavirus-related congestion have re-emerged.
Yemen’s Houthi rebels, or Ansar Allah, have agreed to a UN mission aimed at inspecting and repairing the abandoned floating storage vessel Safer, anchored off the Red Sea port of Hodeidah and at risk of spilling oil.
A new guide on ventilation has been launched by Intercargo, the Standard Club and DNV GL to provide ship masters' ad crew with an understanding of the different requirements for bulk cargoes.