Daily Briefing April 28 2021
Free to read: Ever Given owners seek to cap Suez limitable claims at $115m | US seizes Cameroon-flagged tanker for North Korea sanctions evasion | India and Belgium to vaccinate seafarers as supply fears grow
Good morning. Here’s our quick view of everything you need to know today.
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What to watch | Analysis | Markets | In other news
What to watch
The head owner of Ever Given – whose grounding shut down the Suez Canal for six days last month – is seeking to cap limitable claims at just $115m.
US courts have again invoked civil forfeiture laws to seize a sanctions-evading vessel, with a North Korean-linked tanker and its Singaporean owner accused of illicit deliveries of refined products.
India and Belgium have pledged to vaccinate seafarers as concerns grow that India’s second coronavirus wave will imperil crew changes.
Analysis
The Baltic Dry Index, which measures profitability in the dry bulk market, continues to rise as the capesize segment rockets.
The maritime industry understands the urgency of the decarbonisation challenge and the need to make the transition fuel commercially viable.
Markets
Container line customers can expect equipment shortages to last for the remainder of this year and possibly into 2022 as the fallout from the pandemic continues to affect supply chains.
Bureau Veritas has been contracted by cruise operator Carnival to provide health and safety services to facilitate the return to cruising, protecting passengers and crew.
Maersk has increased its earnings outlook for the full year by nearly half on the back of strong rates and the “exceptional” demand in the container shipping sector.
In other news
Oil spill responders were dealing with a spill off the Chinese port of Qingdao on Tuesday after a Greek-owned tanker was allegedly struck by a Chinese-controlled dry cargo vessel.
DSV Panalpina has expanded its market share again through the acquisition of Agility’s Global Integrated Logistics business in a $4.1bn all-share deal.
Port of Long Beach said Space Explorations Technologies Corp, better known as SpaceX, has taken a lease on a 6.5 acre terminal site at the port to house the company’s west coast launch vehicle recovery operations.
The US has awarded almost $20m in grants to 31 small shipyards across 15 states aimed at modernisation, increased productivity and stepped-up local employment opportunities.
Malaysia is staking a claim to be an export hub for containerised liquefied natural gas cargoes on delivering a second such shipment to China.
Japan’s NYK Line will join a six-member group that is working to establish standards for the safe use of ammonia as a marine fuel.
Capesize owner GoodBulk says it is expecting a strong dry bulk market “into 2022” after returning more than $10m to shareholders following a profitable start to this year.