Lloyd's List is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Daily Briefing September 4 2019

Free to read: World boxship fleet update: A mood of caution | Cosco Shipping quashes 25,000 teu newbuild speculation | Capesizes experiencing ‘fragile spike’ | Sulphur cap to drive up marine fuel market value by 30%

Good morning. Here’s our quick view of everything you need to know today.

The Lloyd’s List Daily Briefing is brought to you by the Lloyd’s List News Desk.

What to watch   |   Analysis   |   Markets   |   In other news




Print this briefing


What to watch


The container shipping sector may well have breathed a collective sigh of relief at the news that Chinese box shipping giant Cosco has no plans to develop 25,000 teu containerships.

China Cosco Shipping Corp, which runs the world’s third-largest boxship fleet, has quashed speculation that the state-owned conglomerate is interested in ordering super-sized containerships of 25,000 teu.

Capesizes are approaching a 10-year high, with average time charter rates at $37,000 per day on renewed tonnage tightness in the Atlantic. But the sudden dramatic upswing should be seen in the context of underlying factors.


Analysis


The global marine fuel market will expand almost 30% next year as higher-priced compliant bunkers enter the market.

Shipowners may count on one unique feature of the supply chain at the world’s top bunkering hub to mitigate fuel contamination risk.


Markets


Insurance payouts on Hurricane Dorian will likely run to tens of billions of dollars, but will likely be below the six-figure billion mark seen with Hurricane Katrina in 2005 and Hurricane Harvey in 2017, according to industry sources.

Sovcomflot sees slight improvements in market conditions in the light of better supply and demand fundamentals. The company has plans to invest in fleet renewal and expansion of its energy business.


In other news


The Iranian tanker Adrian Darya 1 has not emitted an Automatic Identification System signal since yesterday, when it was in the Mediterranean with a direction towards Syria.

Japan has signalled that it would not join the US-led joint protection force in the Middle East Gulf and instead may deploy its own naval force independently.

China Shipbuilding Industry Corp said its chairman Hu Wenmin has retired as the state giant is merging with a domestic rival.

Two workers died and 13 more were “severely” injured following a collapse of a heavy cable at a shipbreaking yard in Chattogram, Bangladesh.

A master who began his nautical career in 1943 is among 19 seafarers to have been awarded Merchant Navy medals, the UK Department for Transport has announced.

Topics

UsernamePublicRestriction

Register

LL1128910

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel