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Daily Briefing March 18 2021

Free to read: Digital solutions ‘must make the value proposition much clearer’ | Gasoline demand already peaked as pandemic changes tanker trades | Castor is latest in line of acquisitive Greeks

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


A Lloyd’s List webinar has heard that practical blockages to the flow of data and the adoption of digitalisation are more psychological and commercial than technological. Follow the money, experts advise.

Crude demand will not reach 2019 levels until 2023 but peaks two years later as home working and oil transition lower consumption, an International Energy Agency five-year forecast shows.


Analysis


Increased productivity in China and burgeoning online demand in the US created an unseasonable surge in import cargo, which lifted west coast ports to their busiest February on record

Extinguishing a fire on board a containership is just the first step in a complex process that can take many months and millions of dollars to resolve.


Opinion


Sometimes an unexpected turn of phrase turns out to be more insightful than anyone had thought. Perhaps the reason why digital solutions have been so hard to sell lies in their fluffy intangibleness, writes Richard Clayton.



Markets


The Baltic Dry Index, a measure of shipping health for bulk carriers, has reached a five-month high of 2,017 points driven by surging panamax and supramax charter rates as demand for minor bulk commodities pushed up vessel employment.


In other news


Maersk has welcomed a proposal to impose a levy on international shipping emissions, but has said it is too early to assess its price.

Steamship Mutual has launched a cyber attack insurance product which covers loss of income incurred by vessels as well as providing access to expert assistance and free security awareness training for employees.

Hapag-Lloyd said it has secured a deal to take over Netherlands-based container line NileDutch

The Global Shipping Business Network, a blockchain-based liner shipping platform owned by leading carriers and terminal operators, has started operation in Hong Kong after gaining regulatory approvals.

PSA International, the Singapore-based ports group, said it had linked up with the operator of the world’s largest inland port to invest in multi-modal logistics infrastructure in Asia.

Ammonia is leading the charge as the next-generation fuel gaining most traction among pilot projects for large ships.

Denmark will send a warship to the Gulf of Guinea after lobbying for European Union support for naval intervention to tackle piracy.

Liquefied natural gas carrier owner Dynagas LNG Partners is eyeing an improvement in the spot market after posting better-than-expected results for the fourth quarter of 2020.

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