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Daily Briefing June 17 2021

Free to read: Carbon levy talks pushed back amid division at IMO | Can Beijing tame the iron ore trade? | Greeks lament lack of technical breakthrough on shipping 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




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What to watch


Governments have shown deep divisions on the future use of carbon levies and broader market-based measures for shipping, as the International Maritime Organization attempts to move on to more aggressive steps to decarbonise the sector.

The frosty relationship between China and Australia, which has affected bilateral trade for commodities such as coal, barley and cotton, now threatens to disrupt the iron ore trade.

Greek Shipping Co-operation Committee chairman Haralambos Fafalios has called for “workable” solutions to decarbonise shipping, putting the blame on charterers, manufacturers and others for slow progress towards this goal.


Analysis


The court ruling that international oil major Shell must cut carbon emissions by 45% by 2030 sets a dangerous precedent for shipping, legal experts have argued.


Opinion


With global geopolitical competition expected to focus largely on climate change and carbon emission reduction over the next 30 years, now is a timely moment to steer the direction of Hong Kong to combine financial development opportunities with a low-carbon transformation, writes Edward Liu, legal director at Hill Dickinson Hong Kong.

Weekly briefing: Container congestion spreads | Dry bulk attracts attention | Tankers look to the skies in dread.




Markets


The transpacific box shipping market is set to become more crowded as lines not usually associated with the trade prepare to take advantage of sky-high freight rates and strong demand.

Norwegian owners of large and small bulk carriers are positive about the market’s prospects in the short to mid-term.


In other news


Denmark has topped the Paris Memorandum of Understanding on Port State Control’s white list for performance, followed by Norway and the Marshall Islands.

Skuld, the Norwegian P&I club, had a technical loss of $30.1m for the year to February 20, with a combined ratio of 108%.

NYK, the Japanese shipping line, will pay ¥100bn ($912m) for the construction of a dozen of liquefied natural gas-fuelled car carriers at two domestic yards.

Ocean carriers are threatening exporters with retaliation if they take their complaints to the US regulator, a Congressional subcommittee has heard.

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