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Daily Briefing May 3 2021

Free to read: It’s high time shipping listened to entrepreneurs | Liner association lambasts ‘defeatist’ greens over decarbonisation fund | The Lloyd’s List Podcast: How will the Suez blockage impact marine insurance?

Good morning. Here’s our quick view of everything you need to know today.

Holiday break: Because Monday is a public holiday in the UK, Tuesday’s Daily Briefing will be published later than usual.

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


Industry leaders are beginning to embrace innovation from enthusiastic entrepreneurs. But shipping has a poor record when it comes to listening to disrupters. Our attitude to entrepreneurs must change.

The World Shipping Council has hit back at environmental organisations for their dismissal of an industry-backed decarbonisation research and development fund.

The Lloyd's List Podcast: How will the Suez blockage impact marine insurance?


Analysis


The surge in coronavirus cases in India has prompted fresh lockdowns and movement restrictions across a number of states.

From the News Desk: India’s virus wave threatens crew change progress.


Opinion


Requiring proof of vaccination before letting crews leave ships to return home will put seafarers in a Catch-22 scenario — unable to disembark until they are vaccinated, but not able to get vaccinated without leaving the vessel, writes Natalie Shaw, director of employment affairs at the International Chamber of Shipping.


Markets


The closure of the Suez Canal last month is expected to add at least another two to three months’ disruption to the global supply chain as the operational disruption caused by the closure works its way through the supply chain.

The Baltic Dry Index, a benchmark indicator of the dry bulk sector, has risen to its highest level in 11 years, boosted by a burgeoning capesize market that has seen earnings jump on strong Chinese iron ore demand.

Australia has more than doubled its exports of wheat after record production following years of drought.


In other news


Ocean Network Express marked its third birthday with a 3,000% increase in profits as the carrier benefited from the strong demand resurgence and strong freight rates.

Canada’s House of Commons has approved legislation to end a strike of 1,150 longshore workers at the port of Montreal.

An Indian seafarers’ union has accused shipowners of hypocrisy in professing to care for seafarers’ wellbeing after talks to increase the seafarers’ global minimum wage collapsed into acrimony.

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