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What to watch

The Ever Given grounding will have a big impact not just on the physical shipping and ports business, but on the whole maritime white-collar services sector as well, according to sources in marine insurance and ship finance.

Two bulkers have been detained by the Australian Maritime Safety Authority for several breaches, including ‘appalling’ working and living conditions.

Environment groups pushing to regulate black carbon emissions from Arctic shipping are planning their next steps amid frustration at the slow pace of talks at the International Maritime Organization.

Analysis

Larger vessels may command the most attention — not least because of the blocking of the Suez Canal by a container behemoth — but humble handysize bulkers are causing their owners an unaccustomed measure of excitement as freight earnings climb.

The new discipline of a much-reduced customer base means that speculative ordering by tonnage providers is unlikely to re-emerge, despite the buoyant nature of the container shipping sector.

Oil spills from tankers have diminished in recent years, but the International Tanker Owners Pollution Federation is just as busy as the focus on smaller spills increased, its managing director tells Lloyd’s List.

Opinion

Policy makers must think carefully about reinstating China’s fleet renewal subsidy scheme. It is important to keep the country’s shipping and shipbuilding industry competitive, yet at the same time prevent it from being addicted to government handouts, writes Cichen Shen.

Markets

Regulators are under pressure to agree on how to measure the lifecycle emissions of shipping fuels, in an effort to ensure shipping’s decarbonisation pursuit does not undermine similar efforts outside the sector.

AGL Energy’s plan to build a liquefied natural gas import terminal in Australia has been rejected on environmental grounds.

In other news

President Joe Biden has announced an action plan aimed at boosting US offshore wind projects while creating spin-off benefits for other areas of the nation’s maritime industry.

Globus Maritime, a Nasdaq-listed dry bulk carrier owner, cut losses in 2020 despite a drop in revenue compared with 2019.

Mitsui OSK Line and US wood bioenergy firm Enviva have agreed to co-develop environment-friendly dry bulkers.