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Daily Briefing April 27 2021

Free to read: More than 200 tankers could flood tanker market if Iran sanctions lifted | Yard Talk: Should a green ship be produced by a green yard? | Demand boom drives box spot rates to new highs

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


Any lifting of US sanctions on Iran’s oil and shipping sector would release as many as 218 tankers, totalling 37.8m dwt, into regular trading over a three-month period, analysis by Lloyd’s List shows.

Chinese yards face challenges from South Korean competitors, which have pledged to reach carbon neutrality by 2050. They are expected to be burdened with extra technical requirements and financial costs driven by China’s decarbonisation strategy, writes Cichen Shen.


Analysis


Container spot freight rates continued their northerly ascent over the past week, with sustained strong demand and capacity constraints pushing prices up to more index highs.


Opinion


The Lloyd’s List Podcast: Governments and industry are jostling for position in the run up to a series of important decarbonisations meetings where shipping will be called to account, and likely a target. Stena chief executive Erik Hånell talks us through the reality of what it takes to make a green stand and plan a pathway to 2050 without knowing enough about the detail of how to get there.


Markets


Shippers are braced for disruption from last month’s Suez Canal blockage as ships held up by the closure fight for berth space at destination ports in both Europe and Asia.

Costamare has taken over full ownership of five 11,010 teu vessels previously co-owned with joint venture partner York Capital Management.


In other news


A new group of class societies and flag states has been launched to help the shipping industry to decarbonise.

The European Union definition of what constitutes a green ship has disappointed one of the bloc’s most influential environmental groups.

While overall happiness rose slightly among seafarers, concerns about the impact of coronavirus on crew changes remain, according to the quarterly index published by the Mission to Seafarers.

Orient Overseas Container Line, a unit of state conglomerate Cosco Shipping, saw revenue and cargo volume remain bullish in the first quarter of the year.

The Philippines has approved another liquefied natural gas project for the country’s most populated island, Luzon.

Kuehne + Nagel expects another ‘challenging and unpredictable’ year ahead, despite announcing a strong start to the year.

A fire and explosion reported on a tanker carrying Iranian oil to Syria is believed to have been the cause of an accident.

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