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Daily Briefing May 13 2020

Free to read: Coronavirus feeds LNG shipping inefficiency | Call for P&O's state-aid to be linked to UK jobs | Gulf of Guinea kidnappings overlooked as tally edges higher

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   |   In other news




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What to watch


Liquefied natural gas carriers have turned to slow steaming to cope with supply chain disruptions resulting from the coronavirus pandemic.

Any further state aid for P&O Ferries should be conditional on protecting British jobs and maintaining supply lines during the coronavirus crisis, the UK opposition Labour Party has said.

High rates of kidnapping in the Gulf of Guinea in 2019 show no sign of improving this year, with the piracy threat going under the radar as coronavirus dominates headlines.


Analysis


Deutsche Bank has called on Euronav, the largest US-listed tanker owner, to pare down debt instead of paying out dividends.

Europe’s shippers are increasingly turning to other modes of container transportation to ensure the continents’ goods continue to flow at a time when the coronavirus pandemic is putting a major strain on haulage.

From the News Desk: About 150,000 merchant seafarers will need to be changed over by the end of May to ensure compliance with international maritime regulations.


In other news


Ocean Tankers, the oil shipping unit of troubled Hin Leong, has applied to be put under judicial management, Reuters reported.

Odfjell sold its share in the Dalian terminal in China to VTTI, a Dutch provider of global energy storage, for $59m

At least one person his died and 22 were injured after a fire on board an Indonesian-owned and flagged tanker undergoing repairs at a shipyard.

Two vessels — a bulk carrier and a containership — have run aground off Singapore, while proceeding in the same direction, probably trying to avoid a collision.

TOP Ships, the Nasdaq-listed tanker owner, has acquired three new medium range two tankers from chief executive Evangelos Pistiolis’ private shipping operation.

Containership owner Global Ship Lease has said that it is confident of “weathering the storm” in the container shipping market that is threatened by the coronavirus pandemic.

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