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Daily Briefing June 16 2021

Free to read: Trøim positive for dry bulk outlook after company launch | Spain arrests subterfuge tanker for illegal oil dumping | Retailers seek talks with Biden over US port congestion

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


Shipping tycoon Tor Olav Trøim tells Lloyd’s List he is more excited about the dry bulk market now than he was in the heady days of the early 2000s.

A product tanker linked to US-sanctioned oil trades with Venezuela has been detained off La Palma, one of the Canaries Islands, for illegally discharging oil.


Analysis


The US National Retail Federation has requested a meeting with President Joe Biden to discuss the challenges its members are facing from continued supply chain disruptions that are leading to congestion at US port.

When a 20,000 teu boxship becomes grounded in the Suez Canal, thousands of cargo interests are on the hook for a share of rescue costs. Two shipping barristers explain the whys and wherefores.

The transpacific trade lane is the focus of current undersupply of tonnage and likely to be where the industry deals with a potential future oversupply.


Markets


Magnus Halvorsen, chief executive of Tor Olav Trøim-backed 2020 Bulkers, tells Lloyd’s List he is bullish about the prospects for the capesize sector.

Container lines are postponing drydocking programmes and speeding up ships where appropriate as they struggle to move unprecedented volumes of cargo.


In other news


The Russian master of the fire-stricken X-Press Pearl was released on bail pending investigations into the chemical fire behind Sri Lanka’s biggest environmental disaster.

South Korea’s Daewoo Shipbuilding & Marine Engineering has emerged as the second yard group based out of Asia to land a major contract to build a large floating production, storage and offloading vessel for the Petrobras-operated giant Buzios oilfield.

Eastern Pacific, a shipowner and shipmanagement company, will partner with Singapore’s Nanyang Technological University to explore the use of ammonia as an alternative marine fuel.

Kanfer Shipping has hooked up with a local partner to roll out liquefied natural gas bunkering services in Australia in the next two years.

Navios Maritime Partners, the dry bulk carrier and containership owner, has agreed three-year charters for five panamax boxships at an average day-rate of $41,723.

HMM, the South Korean shipping group, said it suffered a breach of its IT systems affecting email provision in some parts of the world.

GasLog Partners said it has agreed short period charters with Total and Shell for two of its 155,000 cu m tri-fuel diesel electric liquefied natural gas carriers.

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