Daily Briefing March 30 2020
Free to read: Imabari finalises tie-up with JMU as Japan looks to merge yards | Dry bulk rates soften as Anglo moves to curb output | Shipping hopes it is a case of ‘V’ for victory | The Lloyd’s List Podcast: What shape will shipping’s coronavirus recovery take?
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Imabari Shipbuilding and Japan Marine United, two of the largest shipbuilders in Japan, have firmed up the tie-up deal unveiled late last year.
Global miner Anglo American said it has had to curtail some operations because of the coronavirus crisis in line with governmental guidance.
With unnecessary travel being restricted in many countries to halt the spread of the coronavirus, ferry companies that rely on passenger traffic to support their cargo operations are beginning to feel the strain.
Lloyd’s List Podcast: However horrific the disruption looks right now at a consumer level, we have to believe that coronavirus is not going to structurally change the shipping markets. Can we hope for a V-shaped recovery, or should we brace for a misshapen U? Joining Lloyd’s List Editor Richard Meade this week to discuss the shape of things to come is Shipping Strategy managing director and returning podcast pundit Mark Williams.
Thailand has taken advantage of low liquefied natural gas prices to pick up spot cargoes on the cheap as demand for the fuel fell through the floor amid the coronavirus outbreak.
The week in charts: Cosco Shipping Ports chairman warns of short-lived recovery in container volumes, while shore-based crude storage expected to fill up quickly, bolstering tanker forward freight agreement contracts.
Port of New York-New Jersey director Sam Ruda remains on message in his effort to keep the coronavirus at bay, even as he seeks to boost cargo throughput for a US economy that is visibly straining under the weight of the pandemic.
Lloyd’s List and Lloyd’s List Intelligence experts joined a special webinar examining the impact of the coronavirus pandemic on the shipping sector and answered questions from a global industry audience. You can now access the webinar, featuring our data-led analysis of the key maritime markets, here.
Even amid the cashflow crunch that will likely take some casualties, there are those preparing for the upside that will come once the global supply chain eventually unplugs its current bottlenecks and global trade returns, writes Richard Meade.
Global commodities producer and trader Glencore has decided to halt some operations amid the coronavirus outbreak.
China International Marine Containers expects the box-making industry to contract further having posted weaker results for 2019.
Despite bans being lifted on the utilisation of domestic oil and gas resources, Australia still faces an emerging gas shortfall along its southeastern coast. This will support liquefied natural gas imports to feed the needs of its two most populated states.
Major cruiseship operators will be excluded from the US government’s $2trn coronavirus aid package because they are incorporated offshore, according to reports.
Port workers should be prioritised for personal protective equipment to keep them working during the coronavirus crisis, according to Maritime UK.
Varying approaches are being taken towards operational difficulties caused by the coronavirus outbreak, with some parties being forced to add charges to help cover their costs, while others are urging restraint.
Australia’s largest liquefied natural gas producer, Woodside Energy is slashing 60% of its planned investment this year and postponing final investments on two large-scale, brownfield liquefied natural gas projects.
Synergy Group chief executive Rajesh Unni has taken the spiraling problem of crew changes by the horns, proposing the organisation of collective crew changes at key hub ports by shipmanagers and owners as a solution to the seafarer welfare crisis currently threatening global supply chains.
Greece’s first floating regasification and storage unit has received binding offers for the supply of 2.6bn cu m of natural gas for up to 15 years to domestic and international players.
International credit ratings agency Fitch is revising its economic outlook of the North American ports sector, because of the “sizeable and wide-ranging effects” of the coronavirus pandemic.
Port of Los Angeles executive director Gene Seroka underlined the national emergency resulting from the coronavirus pandemic and insisted the port would keep supplies moving as smoothly as possible.
Truckers will be allowed to stay in their cabs during UK domestic and international ferry crossings, following a Maritime and Coastguard Agency decision to relax current rules as part of its response to the coronavirus crisis.