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Daily Briefing May 21 2021

Free to read: Legal fight over $99m oil sale to test US ship seizures | Sovcomflot banks on LNG-fuelled future, says finance chief | European nations push IMO for emissions measures by mid-2020s

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   |   Markets   |   In other news




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What to watch


A legal battle looms over who owns the $99.6m in proceeds from the sale of alleged Iranian oil seized from a Greek tanker in Fujairah waters that will also test how the US enforces sanctions on international shipping.

Sovcomflot chief financial officer Nikolay Kolesnikov tells Lloyd's List he expects no problem in financing the liquefied natural gas carrier fleet, highlighting that loan documents for prior LNG-fuelled vessels were based on Poseidon Principles.

Shipping needs to introduce measures that incentivise the uptake of zero-carbon fuels to come into effect “around the middle of this decade,'' according some European nations.


Analysis


A containership with some seafarers who have tested positive for coronavirus is headed to South Korea for a crew change.

Weekly briefing: The headline view of the stories shaping the key shipping markets.


Markets


CMA CGM will begin offering customers the option of using biomethane in an effort to reduce its emissions, accompanied by regional and global deployment.

Taiwan has stopped granting entry permits to foreign crew designated to work in the offshore wind sector in a bid to contain the recent coronavirus outbreak within its community.


In other news


Eurodry, the Nasdaq-listed bulk carrier owner, said it has acquired a 17-year-old panamax as it seeks to take advantage of the sparkling dry bulk market.

Diana Shipping, the Greece-based owner of 36 dry bulk carriers, has clinched a “sustainability-linked” loan facility from ABN Amro Bank to refinance six of its vessels.

Genco, a US-listed dry bulk owner, has agreed to acquire a pair of 61,000 dwt newbuildings at a Chinese yard.

Golden Ocean Group forecast strong markets “for the foreseeable future” as it posted a record net profit for the first three months.

Japan has stepped up its plans to import blue and green ammonia from Australia.

MPC Container Ships has turned a corner on the back of the strong market conditions in the sector, reporting a profit of $3.5m for the first quarter.

Star Bulk Carriers, the Greece-based bulker owner, has said it will reinstate a dividend for shareholders amid soaring profits and longer-term optimism about the course of the dry bulk market.

The Federal Maritime Commission, acting under new Congressional legislation, has voted to establish a 24-member committee of importers and exporters to serve in an advisory capacity.

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