Daily Briefing January 30 2020
Free to read: Converted VLOCs exit fleet as Brazil said to step up checks | Dry bulk market faces uncertainty | Box shipping feels coronavirus impact
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Very large ore carriers converted from very large crude carriers are finally exiting the dry bulk fleet with more to follow. These vessels, which are all older than 20 years, have been watched closely since the sinking of the Stellar Daisy in 2017.
A combination of factors such as low iron ore volumes from Brazil and uncertainties about the coronavirus in China is leaving the dry bulk market in dire straits. The Baltic Dry Index has fallen to the lowest level since April 2016.
The impact on shipping of the coronavirus outbreak is beginning to be felt in the container sector, with reports of equipment build-ups in Shanghai and early indications of increased lay-ups.
The technology behind digital shipping is achievable in the short term but human interaction must not be overlooked.
There are many pain points in the journey from fully manned to fully autonomous shipping. None of them is insurmountable but its is imperative to get the human element right, writes Richard Clayton.
While tensions between the US and China over the past few years have been bad news for shipping across most sectors, hopes will be high that the latest trade deal, unveiled earlier this month, will provide a boost to the industry’s fortunes in 2020, writes David Osler.
Costamare reported increased earnings for last year’s final quarter as it continued its fleet renewal with four panamax acquisitions.
International Seaways has secured $390m in new financing in a bespoke deal whereby the loans are linked to fleet emissions performance.
PetroChina was the largest bunker fuel provider in Singapore last year, jumping from third in 2018, according to the Maritime and Port Authority.
DNV GL has established a regional maritime gas centre in Piraeus, which acts as head office for the Southeast Europe, Middle East and Africa region.