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Daily Briefing December 19 2019

Free to read: LNG seaborne trade soars as crude tonne miles set to plunge 30% by 2050 | South Korea frustrates OECD’s efforts in new shipbuilding competition regime | Yard Talk — How to endure a lengthy winter? | US amends rules to allow sale of 0.5% sulphur marine fuel

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




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What to watch


Liquefied natural gas and containerised trade are the biggest long-term winners under classification society DNV GL’s analysis of seaborne trade through to 2050.

A group of shipbuilding nations under the Organisation for Economic Co-operation and Development have failed to introduce a new competition regime after South Korea voted against it.


Analysis


Anti-trust pressure is unlikely to deter a South Korean mega merger, while China may see further consolidation among its state-owned shipbuilders.


Markets


US oil refineries will be allowed to distribute and sell shipowners marine fuels with a sulphur content of up to 0.5% instead of only 0.1% after a change in regulations by the country’s energy regulators.

A falling trade-to-GDP ratio because of slowing globalisation and increasing protectionist measures looks set to affect container shipping demand for years to come, according to BIMCO.


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’.

One of several liquefied natural gas terminal projects in the Philippines has been put on ice after Phoenix Petroleum Philippines and China National Offshore Oil Corp Gas and Power Group, the partners in the Tanglawan LNG project, asked the Department of Energy to suspend its proposal, local media reported.

Switzerland is suing Nigeria at the Hamburg-based International Tribunal for the Law of the Sea, seeking the return of an ABC Maritime-managed tanker that has been held in the African country for almost two years.

A second liquefied natural gas carrier from the Angelicoussis Shipping Group gas-shipping arm Maran Gas Maritime has been chartered by Jera, the joint venture of Tokyo Electric Power Group and the Chubu Electric Power Group.

China-backed Asian Infrastructure Investment Bank has extended a $500m loan to finance a liquefied natural gas import terminal in Tianjin.

B Denmark P&I, Britannia’s exclusive correspondent in Denmark, will become a full branch office of the International Group affiliate from January 1.

CMA CGM is setting up a new sustainability division and has hired Guilhem Isaac Georges to lead it.

Capital Product Partners has agreed to acquire three containerships that begins a promised move to rebuild its fleet after spinning off its tanker fleet into Diamond S Shipping earlier this year.

Families of the victims of the Sanchi tanker casualty in January 2018 have filed a lawsuit against the National Iranian Tanker Co in the US.

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