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What to watch

All but seven of Iran’s fleet of over 30 containerships have continued to trade internationally over the past 12 months, including regular European Union port calls, despite operating within what lawyers describe as a political and legal grey area.

The economic recovery from the impact of the pandemic could be aided significantly if countries around the world reduced restrictions on maritime trade.

Lloyd’s Register said it has sold its Business Assurance & Inspection Services division, including cyber security business Nettitude, to Goldman Sachs Asset Management.

Analysis

Shipowners have been warned not to make crew changes in northern Mozambique because of violence from alleged affiliates of the Islamic State.

Opinion

Multi-physics simulation is a technique that integrates multiple engineering strands to open the door to the next generation of ships. The technology sits at the intersection of data, digitalisation and decarbonisation, writes Christopher Wiernicki, chief executive of the class society ABS.

The fire on board New Diamond, in which one crew member died and another sustained serious injury last year, calls for the industry’s sharp focus on the prevention of exhaust gas boiler fires, writes Ritesh Kaushik, an expert in international maritime law.

Markets

After a cautious year the dry bulk market is at the point where supply and demand are coming back into balance, but operators seem to be looking to go back to the yards to refresh their fleets.

Norden, a Danish owner and operator of dry bulk carriers and tankers, has raised its profits guidance for the fourth time this year.

Demurrage and detention charges imposed on shippers by container lines have soared at unprecedented rates globally during the past year — more than doubling, on average, at the world’s 20-largest container ports.

In other news

The International Chamber of Shipping has named Emanuele Grimaldi, managing director of Italian-based shipowner Grimaldi Group, as its next chairman.

HMM, a South Korean container shipping carrier, has joined the sector’s latest order binge with a dozen 13,000 teu newbuildings worth about $1.6bn.

Seaspan Corp, the world’s largest independent containership owner, has agreed to order another half a dozen 15,000 teu vessels, boosting its orderbook to 45 ships.

YQNLink, a Chinese digital container logistics platform, said it has raised another $50m from venture capital investors.

Sembcorp Marine is counting on big data-driven solar energy to decarbonise operations at its flagship Tuas Boulevard Yard.

Titan LNG, a supplier of liquefied natural gas as a marine fuel, is rolling out an interim solution to fill bunkering demand during scheduled maintenance at the Gate terminal in Rotterdam.

Throughput at US south Atlantic ports showed continuing high numbers in May, underlying consumers’ prolonged buying spree as the pandemic recedes and the economy reopens.

V.Group, the shipmanagement giant, has appointed liquefied natural gas expert David Taylor as managing director to strengthen its commitment in the energy sector.

American Club, the New York-based marine insurer, booked a $5m pre-tax loss for 2020 on revenue of $90.6m, according to its annual report.

Okeanis Eco Tankers said it has agreed to acquire two very large crude carrier newbuildings in a resale deal with chief executive Ioannis Alafouzos.

Tsakos Energy Navigation has alluded to “a new phase of development” as it posted better-than-expected first-quarter results.

Metis Cyberspace Technology, a maritime data analytics specialist, said it has successfully concluded a performance trial for marine powertrain condition analysis.