The path back to full state ownership will see DP World take on an additional $8.1bn in debt as Dubai continues to feel the repercussions of the emirate’s 2009 debt crisis

The European Parliament wants shipping put under the EU’s emissions cap and trade system and it’s not clear the industry has yet clocked the full implications of this latest political salvo. Meanwhile, in the UK, the government plan to create up to 10 freeports to ‘turbocharge’ trade in the wake of Britain leaving the European Union is raising political questions. We’re joined by the British Ports Association and the UK Major Ports Group to dissect what it means for the industry

When Nusrat Ghani talked to Lloyd’s List last week, she noticeably spoke about her roles as UK Shipping Minister in the past tense. There was speculation that she could be in line for promotion. Instead, she has been sacked as part of prime minister Boris Johnson’s reshuffle. She leaves the UK maritime sector, relatively speaking, in a good place, enjoying a period high-profile status within UK government and will be remembered as one of the most effective maritime ministers of recent years. 

It will take a while for shipping to get back on its feet. Rates have tumbled and will continue to do so, forecasts will have to be adjusted beyond the downward revisions we have already seen. Expect a slow period for the market as the dust settles and do not rule out further upsets

The inside track on the stories shaping shipping this week

Tanker markets poised for further negative headwinds as previously idled fleet of Cosco tankers prepare to re-enter the spot market