Daily Briefing July 13 2021
Free to read: Rescuing migrants at sea could lead to prison under new UK law | Ammonia hype builds in shipping market | Carriers make their case as supply chain chaos continues
Good morning. Here’s our quick view of everything you need to know today.
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What to watch | Analysis | Opinion | Markets | In other news
What to watch
Seafarers could potentially face life imprisonment for meeting their obligations to assist migrant craft in danger if those rescued subsequently claim asylum in the UK, according to legal opinion.
Japan’s move to embrace blue and green ammonia to decarbonise its marine and power sectors has stoked expectations that hundreds of tankers could eventually be built either to burn or ferry the fuel over longer-haul trades.
Container lines have mounted a public relations defence against the threat of further regulation by the US Federal Maritime Commission, claiming they are doing everything in their power to resolve the supply chain crisis.
Analysis
Demand growth for very large liquefied petroleum gas carriers is forecast to rise 13% in 2022, outpacing a 4% supply growth, Oslo-based investment bank Cleaves Securities said.
Opinion
The Lloyd's List Podcast: Why shipping is not going to get any sanctions risk relief.
Markets
Oslo-based Torvald Klaveness has sold four vessels for around $120m, which is nearly three times their value just two years ago, setting fresh records in the container market for second-hand tonnage.
The current boom in container demand into the US is masking a slower growth pattern elsewhere that could see the spectre of overcapacity rearing its head again when markets normalise following the pandemic.
In other news
An investigation is underway to determine the cause of a collision between a bulk carrier owned George Procopiou's Sea Traders and a Zodiac Maritime-owned containership in the Malacca Strait on Sunday.
The Global Maritime Forum said it plans to hold its first in-person conference in London since the beginning of the coronavirus pandemic.
China Merchants Energy Shipping, which is part of state conglomerate China Merchants Group, has sold another very large crude carrier.
Liberia-flagged containership MSC Messina has arrived in Singapore for repairs after being damaged by fire in the Bay of Bengal.
Standard Chartered has closed a $584m senior secured facility with HMM to fund eight 16,000 teu newbuilding containerships.
Maritime trade groups have objected to UK government plans to end a scheme that helps businesses win overseas trade.
China’s state-run Unipec, the oil trading arm of China Petroleum & Chemical Corp, retained the top spot in Poten & Partners’ rankings of the largest dirty spot charterers for the first half of 2021.
X-Press Feeders and its insurers have made an initial payment of $3.6m to the government of Sri Lanka as a compensation for those affected by the loss of X-Press Pearl, which remains semi-submerged off the coast of Colombo.