Daily Briefing February 24 2021
Free to read: Maersk will consider carbon offsets in neutrality pursuit | Maersk turns away from Cosco crewing arm | Crude demand ‘peaks in four years’ on latest carbon-neutral policies
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What to watch | Analysis | Opinion | Markets | In other news
What to watch
Maersk will explore carbon offsets as one of the potential tools to get it to net zero carbon dioxide emissions by 2050.
Maersk will stop the use of a Cosco Shipping unit as its manning agent in China, raising a stay-or-go question for more than 200 seafarers.
The latest carbon-neutral policies from China and the US will see crude demand peak in 2023 and 2025 respectively for the world’s two largest oil consumers, JP Morgan analysis showed.
Analysis
Gard has emerged as the clear winner among the three P&I clubs that have so far declared the size of their entered fleets.
Even as the number of containerships continues to rise at anchor off Southern California, there is plenty of space for them 1,100 miles to the north at the Northwest Seaport Alliance of Seattle and Tacoma in Washington state.
Opinion
To remain relevant, the P&I clubs require economies of scale to grow services for members and invest meaningfully in loss mitigation and prevention, writes Andrew Taylor, chief executive of the UK P&I Club.
The World Maritime University research report into seafarer work and rest hours recording malpractices is to be tackled by industry experts in a webinar on March 5.
Markets
Commodities trader Cargill and Maersk Tankers have extended their partnership with a new bunker service.
Germany’s shipping sector remains optimistic for a post-pandemic recovery, despite recording another decline in the size of its fleet.
In other news
The Baltic Exchange is directly accommodating the views of shipowners and commodities traders in its assessment process for the first time.
Maran Gas Maritime has five liquefied natural gas newbuildings on order at Samsung Heavy Industries, it has been confirmed.
Australia has announced new safety inspections for livestock carriers, saying more scrutiny is needed following recent casualties.
A data analytics specialist has refined its existing cloud-based data acquisition and ship performance reporting tool to predict the trade-off between emissions reduction and debt servicing for ships financed under the Poseidon Principles.
The future fuel organisation launched by French container line CMA CGM has added three new members and outlined seven projects that it will develop over 2021.
Danish shipping majors Maersk and DFDS have added their support to a planned ammonia production facility planned for construction in Denmark.
Singapore’s yard group Sembcorp Marine has twinned its announcement that it has incurred a wider net loss — blamed largely on lockdown-led disruption — with the unveiling of a pipeline of wind energy and carbon capture projects as it tries to cash in on the shift to new energy sources.
Greece’s shipping community has raised in excess of €13m ($15.8m) to help the health system battle coronavirus.