The rapid growth in Libya’s oil exports since the resumption in October has provided some support for suezmax tankers in recent weeks, but crude tonne-mile demand from the Middle East Gulf is lagging behind the year-ago level. Meanwhile, the impact of the pandemic on vessel deliveries has not been as marked as once envisaged

A new short-term hybrid technical and operational measure, which will see new energy efficiency requirements from 2023 and mandatory carbon intensity targets from 2026, was approved by the International Maritime Organization’s Marine Environment Protection Committee last week

The coronavirus pandemic has impacted on transactions in both the secondhand bulker and the ship recycling markets, new data shows, with activity in these sectors substantially down year on year. Meanwhile, container freight rates have hit new highs, but tanker spot rates on transatlantic routes are below operating costs

There is an increasing link between the ongoing coronavirus pandemic and the safety of crew and vessels, according to recent analysis. Not only is there a heightened risk of accidents at sea due to the crew change crisis, but also there is evidence that increased pirate attacks on vessels may be linked to economic factors

The prospect of a coronavirus vaccine in the coming weeks has cheered certain sectors, but it is unlikely to provide stimulus for tanker rates for many months yet. Meanwhile, the coal trade is set for a return to growth in 2021

Shipping was considered among the sectors most at risk from a global pandemic, but many companies have reported earnings either above year-ago figures or have at least exceeded initial expectations in 2020. However, as the year nears its close and optimism grows that the virus can be brought under control, there are factors that may make 2021 even more challenging