Daily Briefing September 2 2019
Free to read: China Merchants Port woos carriers facing low growth | Cosco Shipping reshuffles container management | EU may extend maritime security trial to Strait of Hormuz | The Lloyd’s List Podcast: Ports beyond Brexit
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
China Merchants Port is seeking co-operation with other container shipping lines as its throughput growth faces growing economic headwinds.
State Conglomerate China Cosco Shipping Corp has embarked a major management reshuffle within its liner segment, sources familiar with the matter tell Lloyd’s List.
The European Union is set to co-ordinate merchant vessel protection activities in the Gulf of Guinea, with ultimate roll-out to the Strait of Hormuz not excluded.
The Lloyd’s List Podcast: As London International Shipping Week approaches, along with the increasing likelihood of a no-deal Brexit, we are joined by UK Major Ports Group chief executive Tim Morris on this week’s Podcast to discuss what lies beyond Brexit for the UK port sector and how to build a ‘strong port’, indeed a strong maritime sector, sufficiently resilient to withstand the mega trends from here to 2050.
Analysis
The crew of an APL containership failed to follow international safety rules when it was involved in a fatal collision with a fishing vessel in the East China Sea, a report has found.
Opinion
Shipping is more ‘public-facing’ and accountable than it ever has been. Understanding how to unlock the power of brand and reputation through marketing and PR is now vital to any maritime organisation, large or small, writes Amie Pascoe, director at corporate communications consultancy BLUE.
Markets
Peak season demand coupled with a scrubber-fitting-led tonnage supply constraint could give a fillip to tanker shipping in the second half of 2019, according to Cosco Shipping Energy Transport.
Hafnia, which bought out BW Tankers earlier in the year, is betting on tailwinds boosting the product tanker market in the coming quarters. It hopes to capture the benefits with its enlarged fleet.
In other news
An Iranian oil tanker released by Gibraltar earlier this month is in waters south of Turkey and headed for Lebanon, according to reports.
Belships has agreed to bareboat charter two ultramax newbuildings from a Japanese shipbuilder for seven years, continuing its fleet expansion spree.
CSSC (Hong Kong) Shipping has agreed on a $189.7m sale and leaseback deal for a floating storage regasification barge linked to Belgian owner Exmar.
Larger containerships face limited access to the Houston Ship Channel as new legislation designed to prevent holdups in the world's second-largest petrochemical port comes into force.
Oslo-listed tanker owner Hunter Group says it has agreed a new five-year sale and leaseback deal for very large crude carriers.
Sembcorp Marine has secured a contract to work on a floating production storage and offloading design solution for the Cambo field in the UK Continental Shelf.
Songa Container has implemented a fuel profit-sharing scrubber clause into its time charter agreements with its container line customers.
The UK government is providing £30m ($36.5m) in emergency funding for ports infrastructure as part of the country’s preparations for leaving the European Union.