Daily Briefing January 16 2020
Free to read: Shipowners remain confident over PIL payments | Call for improved security in Singapore Straits amid crime spike | Gulf of Guinea accounts for more than 90% of crew kidnappings
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Pacific International Lines continues to enjoy a good reputation in the containership charter market, with shipowners displaying full confidence in the Singapore-based carrier despite market speculation concerning bunker payments difficulties.
Incidents of robbery in the Singapore Strait and the waters off Malaysia rose sharply in 2019, according to a regional monitoring body.
Global piracy incidents fell last year but seafarers using the Gulf of Guinea suffered more threats and violence. All four vessel hijackings and 10 of the 11 shootings against vessels in 2019 took place in the region, with kidnappings increasing by over 50%.
The World Economic Forum says that all the major global risks in 2020 will involve threats to the environment, while geopolitical turmoil is expected to continue.
The Bank of China and the Industrial and Commercial Bank of China plan to invest $600m in Mexico’s $8bn refinery that is under construction in the Port of Dos Bocas on the coast of the Gulf of Mexico.
The World Economic Forum’s Global Risks Report 2020 is heavily weighted towards climate issues. Shipping is beginning to respond but should be expected to do so quarter by quarter, writes Richard Clayton.
A recent visit of a senior Qatargas executive to Hudong-Zhonghua Shipbuilding has reignited speculation the Chinese yard will grab a slice of the tender for up to 80 liquefied natural gas carriers.
The US Coast Guard was continuing the search or two fishermen reported missing after a collision between the 600 ft chemical tanker Bow Fortune and the 81 ft fishing boat Pappy’s Pride off Galveston, Texas.
Danish private equity firm Dee4 Capital is growing, with the addition of a vessel to its fleet and with a new hire.
DP World has won another court ruling in its long-running dispute with Djibouti’s government concerning control of the Doraleh Container Terminal, the company said on Tuesday.
Four companies will explore developing an ammonia-fuelled tanker. A hazard study and a design approval in principle are all hoped for this year, but Lloyd’s Register wants a flag state and a bunker supplier to join the project.
Trafigura plans to introduce greenhouse gas emissions targets as maritime's environmental impact continues to dominate and a potential $100m carbon tax bill looms for the firm.