Daily Briefing March 4 2021
Free to read: Charterers attacked as no crew-change clauses compound seafarer crisis | Maritime Markets Outlook: Why tankers need you to take a holiday | Just say ‘no’ to loss-making freight rates, Frontline says
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
What to watch
Charterers of vessels have found increasingly sophisticated ways to avoid crew changes and compound misery for hundreds of thousands of seafarers stuck at sea by the pandemic.
In our latest monthly briefing, we look at how talk of the tanker recovery being kicked out to 2022 will come down to whether EU & US land and air transport demand is given a shot in the arm by allowing summer holidays. In the container sector, we examine whether Brexit is finally benefiting shortsea box trades.
Owners and operators of crude tankers have a duty “not to drop their pants or price” when offering on cargoes in the spot market, says Lars Barstaad, interim chief executive of Frontline.
Analysis
Shipowner Peter Georgiopoulos, who is completing a takeover of United Arab Chemical Tankers, has revealed a second channel in his comeback to the shipping industry.
The success of Scandinavia’s three big P&I insurers in growing their books this year is probably a coincidence, but is testimony to the strong effort put in by Gard, Skuld and the Swedish Club, according to the latter’s chief executive.
Weekly Briefing: Containers conflab reflections | Oil output hike may not be enough to lift tankers | Dry bulk sees a rainbow ahead
Opinion
Tryphon Kedros, shipowner and a stalwart of the London Greek shipping community, has died. He was 108.
Markets
Shippers should focus on securing capacity in the upcoming transpacific contract negotiations rather than get too fixated on freight rates, which will be significantly higher this year.
The supramax and handysize bulker segment has started March strongly compared with the other dry bulk segments, with rates rising in the Pacific and Atlantic regions.
Bulkers owners want charterers to pay their fair share of the additional costs associated with decarbonising the industry.
In other news
Ships are not in danger of becoming stranded assets for years to come, according to the shipping head of ABN AMRO.
Maersk Tankers said it agreed to make a financial donation towards the cost of the transfer operation involving 27 migrants rescued by one of its vessels last year.
BIMCO has joined calls for market-based emissions measures, saying shipping and states should start talks to set global rules now so it can meet its green targets.
CMA CGM has moved to strengthen its position as a terminal operator in the Mediterranean with the purchase of all shares in Gulftainer Lebanon, the operator of the main container terminal in the port of Tripoli.
Chancellor of the Exchequer Rishi Sunak announced the first tranche of UK freeports in his budget statement.
Hyundai Heavy Industries Holdings said it had agreed with Saudi Aramco to co-develop future green fuels.
NewYork-based fleet performance software provider OrbitMI has signed a partnership agreement with Kongsberg Digital.
Pacific International Lines on Wednesday secured a regulatory green light to proceed with a restructuring proposal anchored on a $600m investment from a unit of Singapore’s sovereign wealth fund, Temasek Holdings.
A Canadian major rail operator plans to enable shippers to use all three coasts of North America in an effort to overcome the types of congestion problems that have arisen in the past year.
The US Department of the Treasury’s Office of Foreign Assets Control has sanctioned two key Yemeni militants of the Iranian-backed Ansarallah, sometimes referred to as the Houthis.