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Daily Briefing November 26 2019

Free to read: Global tanker tonne-mile demand falls on US energy independence | CMA CGM to raise $2bn in asset sales | Maersk finance chief quits to join General Electric

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   |   Opinion   |   Markets   |   In other news




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What to watch


Crude tanker tonne-mile demand reveals rising exports from the US Gulf are failing to compensate for US refiners importing less crude, especially from the Middle East.

French shipping group CMA CGM plans to raise $2bn to help finance its takeover of CEVA Logistics. Half the money will come from the sale of port assets attached to its joint venture with China Merchants Port Holdings.

Maersk’s chief financial officer Carolina Dybeck Happe is to leave the company to join US industrial giant General Electric Company.


Analysis


Port of Jacksonville sees diversity of cargo as crucial in the current trade war between the US and China, especially since some commodities have been targeted much harder than others by the two nations, chief executive Eric Green tells Lloyd’s List.


Opinion


CMA CGM plans to expand its scope further into the shortsea sector, building on recent acquisitions Containerships and Mercosul Line, chief financial officer Michel Sirat tells Lloyd’s List.

The Lloyd’s List Podcast: chief correspondent Richard Clayton offers up his view from Dubai, where he has been talking smart ports, while our China editor Cichen Shen and Asia news editor Vincent Wee give us the insider’s view from Hong Kong maritime week.


Markets


Cheniere Energy has won regulatory approval for the Corpus Christi Stage 3 expansion, which has been linked to the troubled US-China trade talks.


In other news


Swire Pacific Offshore confirmed seven crew on board its anchor handling tug supply vessel, Pacific Warden, were abducted during offshore field operations in Equatorial Guinea.

An investigation has been launched into the death of the Greek master whose body was found on board an ore carrier following a fire.

The European-led naval mission in the Middle East Gulf will be based in a French naval base Abu Dhabi.

Maritime UK chairman Harry Theochari has issued a plea for the next British government to rapidly resolve Brexit and allow the industry to focus on other issues.

The lives of thousands of sheep are at stake as a vessel with 14,750 sheep livestock and 22 crew upon completion of unberthing manoeuvres, lost stability, listed to its starboard side and partly capsized in the inner breakwater area of Romania’s Midia port on Sunday.

Guangzhou-based Wideshine Enterprise is believed to have ordered four VLGCs at Jiangnan Shipyard and then agreed on a sale and leaseback arrangement for the newbuildings with the shipyard-backed leasing house.

Anglo-Eastern has announced plans to digitalise its fleet of 600 vessels in a partnership deal with Wärtsilä.

Oslo-listed liquefied natural gas carrier operator Flex LNG has clinched a charter deal of up to 10 years with Clearlake Shipping, the shipping arm of the commodity giant Gunvor.

Florida’s Port of Jacksonville has broken ground on a new $239m container terminal project that will allow the facility operated by SSA Marine to accommodate even more containers than the current record-breaking numbers.

Société Générale’s regional heads of trade and commodities finance for Asia-Pacific have left the Paris-based bank, Reuters reported, citing a company statement.

Malaysian offshore services player Bumi Armada continued to rehabilitate itself with fleet pruning boosting average offshore supply vessel utilisation rates to 58% in the third quarter of the year, from 51% in the preceding quarter.

 

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