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Daily Briefing December 12 2019

Free to read: European Commission unveils plan to regulate shipping emissions | Saudis in tender for first ships to feed LNG ambition | Chile’s electrofuel push to unleash over $90bn investments

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


European regulators have confirmed their intention to control shipping’s emissions, in a move that could culminate in the first market-based measure for maritime greenhouse gas emissions.

Saudi Arabia’s national shipping firm, Bahri, is seeking bids for carriers supporting its home nation’s first foray into the liquefied natural gas trade. The state-owned outfit is said to have issued an expression of interest for the supply of a dozen LNG tankers.

Chile stands to harness its vast renewable energy potential to produce green ammonia and green hydrogen to supply ships calling at its ports. Pressing on with clean energy infrastructure backing the use of such green marine fuels can unlock up to $95bn of investment, according to a new study released by Environmental Defense Fund at COP 25, the latest round of United Nations climate change talks held in the South American country this week.


Analysis


India, a net exporter of iron ore, will have to source the raw material in the coming year as domestic supply is to take a big hit due to the closure of 24 working mines. This is a welcome development that is likely to boost trade for long-haul cargoes.


Opinion


Collaboration is the competitive advantage we need, writes Richard Meade. It’s is also the required key to unlock the door to a very necessary period of innovation for the shipping sector as it responds to an unprecedented series of regulatory and commercial challenges.

We reveal the rundown of shipping companies and individuals who walked away with gongs from this year’s Lloyd’s List Europe Awards. Sovcomflot is named company of the year while CMA CGM architect Farid Salem is honoured with the Lifetime Achievement Award at this year’s ceremony.

The 2019 Lloyd’s List Greek Shipping Awards have been presented in Athens. The event highlighted both the industry’s estimable longevity and traditionality on the one hand, and on the other the promise of a bright future as a new generation takes over.

As part of our 2019 Top 100 most influential people in shipping series, we unveil our Top Lifetime achievement winners.



Markets


More than 10% of containership capacity is set to be fitted with exhaust gas scrubbers by early next year. But delays are pushing up the time that ships are taken out of service.


In other news


Navios-owned tanker Nave Constellation is on the move with a new crew on board, but its kidnapped seafarers are still under the control of ‘a criminal gang’.

Trafigura expects to see a strong 2020 from its mining and shipping activities after a record performance in trading during its 2019 financial year, which ended in September.

Chevron Canada says it will exit its entire 50% working interest in the Kitimat LNG Project in British Columbia, a decision that is part of what the firm called its ‘global portfolio optimisation effort’ focused on improving returns and driving value.

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