Daily Briefing October 22 2019
Free to read: Temasek’s Keppel Corp offer renews yard merger speculation | LNG carrier spot rates poised for surge as market tightens | Maersk raises earnings expectation | Brussels battles Beijing’s Belt and Road
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Singapore’s sovereign wealth fund Temasek Holdings’ move to take control of Keppel Corporation has spurred renewed speculation about a merger between the country’s two leading yard groups.
With liquefied natural gas demand peaking in the winter and general supply tightness, spot rates for LNG carriers are poised to surge in the final quarter of the year. Spot rates have already reached $130,000 a day level.
Maersk, the world’s largest container carrier, has revised up its earnings expectations for the year, despite slowing global demand and lower freight rates.
Teekay Shuttle Tankers’ undersubscribed high-yield green bond float last week has divided opinion in the ship finance community, leaving the outlook for high yield debt from tanker operators in the Greta Thunberg era far from clear.
China has made no secret of its desire to control the trade links to its export customers. But a new deal with Japan could see Europe begin to push back.
The Lloyd’s List Podcast: We come from Singapore this week, where Lloyd’s List hosted the Asia Trade Outlook Forum, casting a critical eye over the market trends shaping shipping business decisions in the next 12 months. Joining Lloyd’s List Editor Richard Meade to discuss the key takeaways from the forum are the Asia editorial team: Cichen Shen, Vincent Wee, Hwee Hwee Tan and Inderpreet Walia.
Lower US corn exports combined with a drop in Argentina’s wheat production may provide a dim prospect for bulker demand active in the trades.
CMA CGM has teamed up with finance platform Incomelend to offer an online trade finance platform for its customers.
French and Chinese energy interests are partnering to supply some of the world’s busiest ports with low sulphur fuels ahead of the 2020 sulphur cap.
Oslo-listed liquefied petroleum gas vessel owner Epic Gas has secured a new $201m credit facility to refinance 20 of its vessels.
Yard group Keppel Offshore & Marine has roped in Swedish engineering and technology giant ABB for the pilot operation of what might turn out to be Southeast Asia’s first autonomous harbour tug.
China Marine Bunker, known as Chimbusco, has secured at least 4m tonnes of low-sulphur fuel oil for the next three quarters to help ships comply with the 2020 emission rules, according to a company official.
Smoke has been spotted coming from the wreck of the car carrier Golden Ray, which capsized off Georgia last month.
The US Department of Energy has authorised Venture Global Plaquemines LNG, LLC to export domestically produced liquefied natural gas from the firm’s Plaquemines LNG project located on the Mississippi River, south of New Orleans.
The Belgian ports of Zeebrugge and Antwerp have entered negotiations over a potential merger of respective port authorities.