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Daily Briefing May 10 2021

Free to read: Looming crew crisis requires urgent action, not words | Fluid port regulations frustrate seafarers | Salvors warn of more maritime disasters if LOF dropped | Industry groups push back reform of $5bn green fund

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


Shipping’s resilience and ability to find workarounds to seemingly intractable problems has carried trade this far, but without some urgent action serious disruptions to the global supply chain are inevitable.

South Africa’s port authority has annulled two recent alerts with a fresh round of tightened crew change measures, underlining the erratic situation that is unsettling sea workers amid a new wave of coronavirus restrictions.

Salvors have urged Lloyd’s to abandon thoughts of closing its Salvage Arbitration Branch and to continue supporting Lloyd’s Open Form, as “the ‘contract of choice’ for emergency response where those at sea face imminent peril.”

Industry groups are holding firm on their support for a $2 per tonne of fuel levy on ships, despite demands from developing nations to scrap the plan.

While advocates of digitalisation proclaim that ‘data is the new oil,’ another message is emerging: Data needs to be shared to reach the scale required to realise its true value.


Analysis


Thousands of vessels running on liquefied natural gas could join the operating fleet along China’s key waterway if the world’s second-largest economy defies a call from the World Bank and presses on with an emission control plan spelled out in March.

The change in Chinese coal trade patterns, as it seeks replacements for Australian imports, have been a mixed blessing for dry bulk shipping as the Asian giant navigates through the political row to scout for alternative sources.

National oil companies and start-ups are embracing new ways to import and re-export LNG amid a liberalising home market. Small to mid-scale LNG trades between China and Southeast Asia look set to continue growing.


Opinion


The Lloyd’s List Podcast: Is shipping about to be hit by a global crew shortage?





Markets


The capesize market is pulling back from the highest rates in years on fears that China may take a tougher stance on Australian commodity imports after it walked away from trade negotiations.

The first week of May has seen no respite for hard-pressed cargo owners and there appears to be no end in sight for the relentless march of containerised freight rates.

India's coal imports are expected to decline amid a surge in coronavirus cases, according to Eagle Bulk, a US-listed bulker owner and operator.


In other news


Hyundai Heavy Industries, a leading South Korean shipbuilder, is joining a project to produce green hydrogen from seawater by using offshore wind power.

Monjasa, the Danish bunkering company, has hired Deloitte to help measure and report its emissions.

Nigeria has offered hope of progress in efforts to fight piracy in the Gulf of Guinea, saying it agrees that states can operate in other states’ exclusive economic zones.

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