Daily Briefing June 14 2021
Free to read: Don’t shoot the carrier | US calls incoming emissions measure ‘weak’ | The Lloyd’s List Podcast: Why sustainability needs digital solutions as well as decarbonisation
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
Record freight rates and delays are the result of a system under pressure in the midst of a pandemic. When the cost of a lean supply chain is paid in a lack of resilience, shippers need to look to their own housekeeping and not just blame carriers.
Proposed measures to tackle the shipping industry's greenhouse gas emissions are weak, according to the US government.
Analysis
A vaccine-led recovery is going to be a bumpy ride for the maritime markets, so we are looking at the leading indicators this month in tankers and predicting what happens now that the markets appear to have hit the bottom. Meanwhile, we are dismissing talk of a super-cycle and examining where the peaks really lie.
The week in charts: Yantian Port congestion | Easing global box demand | Crew abandonment case failures
Opinion
The Lloyd's List Podcast: Shipping experts are calling for serious commitment on sustainability before it’s too late. Is the answer only to be found in zero carbon fuels, in which case how many years will it be until the right fuel or fuels have been trialled and tested under all conditions? Roger Strevens, vice-president of global sustainability at Wallenius Wilhelmsen, explains why reducing carbon intensity by one-third since 2008 is not enough.
Markets
Re-exports of liquefied natural gas cargoes have surged on the back of the impact of supply chain disruption due to lockdown conditions in key global economies.
The port of Los Angeles says it has become the first port in the Western Hemisphere to process 10m teu in a 12‑month period.
In other news
Decarbonisation efforts may require the shipping industry to amend standard contracts to enable reductions in future emissions and improve transparency, according to law firm Clyde & Co.
Sri Lankan authorities are probing a possible oil leak from the fire-stricken containership X-Press Pearl.
Shipowner groups hope to use the G7 talks to push governments to act on the crewing crisis, seafarer vaccines and green shipping.
APM Terminals has appointed a new chief executive for Asia and plans to relocate its regional headquarters from Hong Kong to Singapore.
The US Department of the Treasury’s Office of Foreign Assets Control has designated a “cohort” of businessmen and shipping experts as members of a smuggling network that helps fund Iran’s Islamic Revolutionary Guard Corps-Qods Force and the Houthis in Yemen.
Tokyo-based Astomos Energy is eyeing a different route to reaching shipping’s decarbonisation target.