Daily Briefing March 2 2021
Free to read: Floating storage and subterfuge oil trades pose earnings drag for tankers | From scrapping to sanctions-busting | Yangzijiang Shipbuilding targets $3.5bn in orders
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Lifting US sanctions on Iran’s oil and shipping sector could release more than 140 tankers to regular trading as vessels used for floating storage or subterfuge trading return to markets.
Cross-referencing data provides greater transparency to reveal more about a vessel and its purpose than the anonymous beneficial owner ever intended. Lloyd’s List focuses on four tankers to show how it’s done.
Yangzijiang Shipbuilding expects to continue its order-winning momentum this year, bolstered by strong appetite for fresh tonnage in the containership sector.
Since the outbreak of the trade war there have been efforts to move manufacturing to less politically sensitive regions in Asia. But few of these locations have the advantages that China has developed during the past 20 years.
The drive towards transparency of emissions data from shipowners is a journey that still has a long way to go before it becomes a reality. The Sea Cargo Charter is a start, but just 19 companies have signed up so far.
ESG — environmental, social and governance — is part of a growing interest in corporate transparency and stakeholders’ expectations are evolving quickly. Although voluntary approaches do not seem to be changing perceptions, mandatory laws will likely follow.
‘The pilot knows the local conditions but the master knows his ship’ is so obvious that it is often overlooked. Understanding the master’s role when a pilot comes on board is critical to the venture, writes Richard Clayton.
A company has been formed in the UK with the goal of driving digitalisation and sustainability in shipping.
The Lloyd’s List Podcast: The case for ammonia as shipping’s fuel of the future with guests Milton Bevington and Stephen Crolius of Carbon Neutral Consulting.
The Swedish Club has emerged as the biggest renewal round winner yet, boosting its owned tonnage to a record level of 56m gross tonnes.
BW LPG, the Singapore-based shipowner, says medium-term very large gas carrier market remains positive driven by short-term vessel supply factors.
The pandemic has been a “disaster” for US exporters, who have been badly affected by the breakdown in the containerised supply chain as much as those seeking to import goods.
Singapore conglomerate Keppel Corp said it expects to book a gain of 183.5m Chinese yuan ($28.4 m) from its share of a compensation because of the closure of the Port of Lanshi in Guangdong province.
Israel has cleared aframax tanker Minerva Helen (IMO: 9276561) of any connection with a 1,000-tonne bunker spill that polluted the coasts of Israel and Lebanon last month, vindicating initial strident denials from the vessel’s manager.
Anchor Ship Partners, a Tokyo-based investment company, will launch a $5.65bn fund to aid decarbonisation efforts in the shipping sector.
Torm, a Danish product tanker owner, has agreed to buy eight vessels for $82.5m in cash and the issuance of 5.97m shares.
Mitsui OSK Lines, the Japanese shipping major, said it will expand its data-sharing programme to more of its fleet.
Ports are the most likely locus for data sharing operations needed to overcome obstacles in containerised supply chains.
An unidentified maritime security company falsely claimed two people were killed in a pirate attack in an apparent attempt to cover up its failure to provide escort.