Daily Briefing April 9 2021
Free to read: Crude Greeks decide it’s time to go very large | Ever Given operator launches claim against registered owner | CMA CGM backs biomethane in decarbonisation push
Good morning. Here’s our quick view of everything you need to know today.
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What to watch | Analysis | Opinion | Markets | In other news
What to watch
Freights may have been woeful but a surge of countercyclical Greek VLCC ordering in recent months suggests that many of those with a penchant for big tankers have done similar calculations.
Evergreen, the operator of the boxship that blocked the Suez Canal, has launched legal action against the vessel’s registered owner in the Admiralty Court in London, according to limited information in the public domain.
Analysis
Stena Bulk, the Swedish tanker company, has unveiled a five-step plan to decarbonise by 2050 as it transitions to a more sustainable fleet.
CMA CGM is backing biomethane as part of its commitment to become a carbon-neutral company by 2050.
Everfuel, a Danish energy provider, has preliminarily agreed to supply hydrogen as a bunker fuel to a European shipowner aiming to operate zero-emissions ships.
Opinion
From the News Desk: Pressure is growing for more ambitious decarbonisation targets. Efficiency looks doable, and there are other, smaller ways shipping can better measure and reduce its emissions. But the bigger goal of future fuels looks vexing as ever.
Markets
Spot rates for crude and product tankers will end 2021 at levels that are double or even triple earnings seen for most sizes over the depressed first quarter, according to Jefferies.
In other news
Norwegian authorities have averted a grounding and oil spill after salvors managed to tow the unmanned listing yacht carrier Eemslift Hendrika to the western coastal city of Alesund.
Five of the nine major container lines that make up the Digital Container Shipping Association have agreed to adopt its track and trace standards, paving the way for better cross-carrier visibility of cargoes.
Kogas, the South Korean wholesale gas monopoly, has commissioned Hyundai Heavy Industries to build a second vessel to join its liquefied natural gas bunkering fleet.
MAN Energy Solutions, a German engine maker, will develop an ammonia engine as part of a German government-backed initiative.