Daily Briefing May 20 2021
Free to read: OECD calls for significantly stringent carbon pricing for shipping | Grounding seen as biggest cause of bulk carrier losses | Around 90 people missing after barge sinks in Arabian sea
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
What to watch
The International Maritime Organization has been told it should introduce “stringent” carbon pricing and fuel standards to make zero carbon shipping commercially viable.
Grounding was the single biggest cause of bulk carrier losses over the past 10 years, research shows.
Search and rescue operations are continuing for 89 people reported missing from the barge AWB Papaa 305 (IMO: 8784327), which has sunk in the Arabian Sea.
Analysis
Gard has reported a combined ratio of 104% on an estimated total call basis for the 2020-21 policy year, with an underwriting loss of $23m.
The containership orderbook as a percentage of the existing fleet is rising steadily.
Opinion
Ships handle differently in heavy weather and perform differently when laden or in ballast. Offering a one-stop solution to the decarbonisation agenda is odd. There’s a specific solution for every vessel, writes Richard Clayton.
From the News Desk: Debate is heating up over whether LNG has a place in shipping’s decarbonisation. Lloyd’s List sorts the facts from the greenwashing.
Markets
The ports of Los Angeles and Long Beach are showing improvements in key supply chain metrics as the effects of the pandemic begin to recede, especially in dwell time.
In other news
Frontline, the tanker company owned by John Fredriksen, said it had agreed to purchase six eco very large crude carrier newbuildings.
Zim is to pay a special dividend in its first year as a listed company as shareholders reap the rewards of the carrier’s growing profitability.
The depressed tanker market stripped profits from Sovcomflot over the first quarter as the Russian shipowner’s offshore and gas divisions failed to offset massive losses for the crude and product tanker fleet.
Capital Gas, the liquefied natural gas shipping arm of Evangelos Marinakis’ Capital Maritime Group, has chartered two more of its debut series of seven 174,000 cu m newbuildings under construction at Hyundai Heavy Industries.
Stena AB Group, the Swedish shipping conglomerate, is pioneering the use of jetty-less marine infrastructure in Vietnam to fast-track a liquefied natural gas-to-power project in the fast-growing Southeast Asian country.
Capital Maritime has been verified as the provider of four 13,100 teu newbuilding contracts to Wan Hai Lines as part of the Taiwanese shipping line’s recent new containership spree.