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Daily Briefing January 8 2020

Free to read: Insurers’ risk body meets amid Middle East tensions | US warns of the possibility of Iranian attacks on shipping | Australia overtakes Qatar as top LNG exporter

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


There has been ‘no dramatic change’ in the risk situation for shipping in the Middle East, despite the increased tensions following the killing of Iranian general by the US last week, the Joint War Committee has ruled.

The US has issued an advisory warning of the possibility of Iranian attacks on ships in the Middle East.

Maersk Tankers has launched a new business to sell a software tool it says will help tramp vessel owners cut costs and boost efficiency.


Analysis


The world containership fleet now stands at a record 5,254 ships comprising 22.5m teu. The fleet grew by an additional five vessels in December, adding another 55,861 teu of capacity, at a time when further capacity is the one thing container lines don’t particularly need.


Markets


Australia has edged out Qatar to claim the crown as the world’s largest exporter of liquefied natural gas on an annualised basis last year, data from one energy research firm showed.

Tanker and dry bulk forward freight agreement volumes surged last year in volatile markets. The Batlic Exchange cited the Vale dam disaster, tanker attacks in the Middle East and IMO 2020 as contributing to heightened interest in derivative trades in shipping.


In other news


Saudi Aramco and Sempra Energy have tentatively advanced their plans to jointly develop the Port Arthur LNG export project in Jefferson County, Texas, this week signing an interim project participation agreement.

A tropical low tracking towards the coast of Western Australia at Kimberley has prompted evacuations at Port Broome.

A Cosco Shipping containership has caught fire on its way from Malaysia to India and this is expected to lead to a delay of schedule.

Seaspan’s $200m equity deal to take a majority stake in troubled Singapore offshore and marine group Swiber Holdings has fallen through after key pre-conditions were not met by the December 31, 2019 deadline.

The Greece-based dry bulk operator M/Maritime has added a second kamsarmax to its fleet.

A handysize bulker has been reported adrift in waters off Greece following rudder failure, with 22 crew on board.

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