Daily Briefing July 14 2021
Free to read: Largest stock draw ‘in a decade’ dampens tanker rates outlook | Coal trades at risk from short-term disruptions | South Korean builders remain dominant in high value-added tonnage
Good morning. Here’s our quick view of everything you need to know today.
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The latest oil demand figures signal better times ahead for tanker markets, but the International Energy Agency forecasts higher crude prices to trigger the largest stock draw in at least a decade over the third quarter, further curbing seaborne exports.
Coal trades may be subject to short-term disruption following a derailment in South Africa and a new wave of coronavirus infection in Indonesia.
South Korean shipbuilders have continued to dominate the market for high value-added vessels, according to government statistics.
Yang Ming Marine Transport, the world’s ninth-largest container shipping line, has quashed speculation it is close to placing orders for 24,000 teu ships.
Dutch bank ABN Amro is looking for green growth in European shipping projects following the sale of its US portfolio and strategic withdrawal from energy and trade finance.
Shipmanagers anticipate increasing interest in their expertise as shipping undergoes a shift from regulatory compliance to a deeper commitment to the sustainability agenda.
The US Department of Justice and the Federal Maritime Commission have agreed to boost co-operation to improve competition in the maritime industry.
Shell and PetroChina have agreed a first-term supply contract for carbon-neutral liquefied natural gas.
Stena Bulk will charter Concordia Maritime’s fleet of 10 panamax product tankers for $15,500 per day over five years as part of an agreement forged with lending banks and the parent company to bail out the troubled shipowner.
Piracy incidents in the first half of the year fell to a 27-year low, according to the International Maritime Bureau.
Capital Maritime & Trading, the Evangelos Marinakis-led shipping group, has firmed up feeder containership and medium-range tanker orders with Korea Shipbuilding, the umbrella for Hyundai group yards.
As the sweep of technological change brushes every area of the industry, virtual reality technologies and gamification are transforming the ways seafarers are being trained.
Container xChange, the online equipment leasing platform, is to add tank containers to its portfolio after acquiring tank container leasing and trading marketplace TankContainerFinder.com.
London International Shipping Week 2021 will be held as both an in-person and virtual event after prime minister Boris Johnson confirmed the easing of coronavirus restrictions in England from July 19.