Daily Briefing June 22 2021
Free to read: Box Club closes after half a century as container shipping moves on | Reinsurance exclusions limiting cyber cover from P&I clubs | Guyana checks the Winsome ways of Iran-linked tanker
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 Box Club, which provided a forum for the heads of the world’s top container lines to meet in private, has quietly closed after almost 50 years.
Exclusions on the part of reinsurers have forced Steamship to restrict cyber cover for non-poolable risks to sit within retention levels, according to the marine mutual’s head of reinsurance.
Guyana has become the latest identified registry from Caribbean, African or Pacific countries targeted by flag-hopping tankers engaged in sanctioned Venezuelan and Iranian oil trades.
Analysis
CMA CGM has placed sea, air, and land transport at the heart of new campaign as it continues to transition from a conventional container shipping company to one providing a complete range of intermodal services.
Opinion
Managing safety-related fatigue is done much better in aviationand healthcare than shipping. Maritime has traditionally focused on work/rest hours, but data-driven fatigue management is near, writes Richard Clayton.
From the News Desk: Shipping reacts to MEPC76, what the new rules mean for owners, and why the IMO needs to resolve its trust issues.
The Lloyd’s List Podcast: Shipping has an image problem.
Markets
Mitsui OSK Lines, the Japanese shipping conglomerate, has significantly revised upwards its full-year earnings forecast as the rocketing container freight rates are expected to ramp up further.
Star Bulk, a US-listed owner of dry bulk vessels, is steering clear of the newbuilding market for the time being, given high steel prices and the added costs of new fuel technology while regulations are still being decided.
In other news
Petrochina has agreed to order three more 174,000 cu m liquified natural gas carriers from Hudong-Zhonghua Shipbuilding, according to a yard release.
The insurers of Ever Given are hopeful of securing the release of the vessel after tabling a confidential proposal to the Suez Canal Authority.
A new maritime coalition has been launched to promote the reduction of emissions in the US and Canada.