Daily Briefing July 8 2021
Free to read: IEA wants greater transparency for ‘carbon neutral’ LNG | Dry bulk FFA volumes surge to fresh high | Ever Given begins exit from Suez Canal after compensation deal
Good morning. Here’s our quick view of everything you need to know today.
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What to watch | Analysis | Markets | In other news
What to watch
The use of emission offsets in liquefied natural gas shipments would benefit from greater transparency, according to the International Energy Agency.
Greek shipowners, representing almost 60% of the European fleet’s cargo-carrying capacity, have urged EU lawmakers to be “realistic” ahead of an announcement on market-based measures for shipping emissions.
Surging demand for commodities such as iron ore has not only lifted bulk carrier earnings, but also fuelled the strongest first-half result yet seen for dry bulk freight futures volumes.
The Ever Given is leaving the Suez Canal, its owner Shoei Kisen Kaisha has confirmed.
Analysis
Global container volumes on the major deepsea trades hit their second-highest monthly total yet seen in May, as prolonged strong demand continues to show little evidence of running out of steam.
Markets
Ocean Network Express, the world’s sixth-largest container shipping carrier, is said to be planning to add another half-dozen 24,000 teu ships into its fleet.
Shanghai Waigaoqiao Shipbuilding, part of state conglomerate China State Shipbuilding Corp, said it has won an order for four 7,000 teu containerships from Taiwan’s TS Lines.
Container carriers and tonnage providers have been fighting for tonnage this year as they seek to find sufficient capacity to meet cargo demand.
In other news
Greece’s coastal ferry industry has welcomed an improvement in traffic while braced for a second consecutive loss-making year as well as longer-term challenges.
Safe Bulkers, a Greek shipowner, said it has acquired a Japanese-built kamsarmax newbuilding with scheduled delivery in the fourth quarter of 2023.
Disgraced Taiwanese shipowner Nobu Su has been jailed for two years for what a judge described as “the most serious campaign of contempt before the English courts”.
Another two International Group affiliates have joined the ranks of loss-making P&I clubs.
Avance Gas, an owner of very large gas carriers, said it has secured a $104m sustainability-linked facility to finance two dual-fuel liquefied petroleum gas newbuilds.
Florida’s ports of Tampa Bay and Jacksonville are bracing for the impact of Tropical Storm Elsa.