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Daily Briefing May 20 2020

Free to read: Grains unlikely to support bulkers in the near term | Abandoned LPG carrier had insurance and class revoked after Iran call | Green initiative to target shipping in developing countries | Lloyd’s List Ask the Analysts webinar: Asia markets outlook and credit risk

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   |   Opinion   |   Markets   |   In other news




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What to watch


A slowing grains market is expected through the coming months as the South American season comes to an end, and before US exports begin, according to analysts.

Globalgas, the insolvent Spanish shipowner at the centre of a crew abandonment case, had its class and insurance cut off over accusations that it had breached Iranian sanctions.

An international partnership has been launched to explore potential decarbonisation opportunities for maritime in developing countries.


Analysis


The Digital Container Shipping Association is launching a process to establish the open collaboration it says is necessary to achieve full adoption of electronic bills of lading.

A group of Chinese oil trade players, including two major tanker owners, have published a white paper on the use of blockchain applications to increase efficiency and security in the sector.


Opinion


From the News Desk: Shipping companies are actively cutting costs in order to stave off the worst of the financial implications of a coronavirus-led drop in demand. New initiatives to integrate digital technologies into operations could help with this process.

Ask the Analyst Webinar: When Lloyd’s List launched a regular Ask the Analyst webinar last month we were bombarded with questions on everything from coronavirus to consolidation. This month we will be focused on Asia where the conversation will focus on the market outlook via our team of editorial experts based in Hong Kong and Singapore. We will also be joined this month by our credit team to answer your questions on counterparty risk.


Markets


Eurodry, the Nasdaq-listed owner of seven bulkers, has been talking to its banks about possible rescheduling as it expects the coronavirus pandemic to spoil the market for some time yet.

Vale has reopened its Malaysia distribution centre, bringing back online some 23m tonnes of iron ore capacity.

Northwest Seaport Alliance of Seattle and Tacoma has again joined other ports along the US Pacific coast in announcing sharply reduced container throughput due to blank sailings resulting from the coronavirus pandemic.


In other news


German shipowners fear the coronavirus pandemic could be placing the country’s role as a leading shipping location in jeopardy and have long-term consequences for the industry.

P&I clubs Skuld and Britannia have both recorded positive results for 2019-20. While the former is hinting at premium hikes in the pipeline after its first negative technical result in nearly two decades, the latter believes that its financial strength leaves it well-placed to meet any financial and operational challenges flowing from the pandemic.

Containership owner Danaos has acquired its third vessel so far this year as it adds to a fleet that is predominantly fixed for the next 12 months, providing the company with some protection from the coronavirus pandemic’s impact on the market.

China Merchants Energy Shipping has firmed up orders for two eco-design very large crude carriers at Dalian Shipbuilding Industry Co, according to an exchange filing.

The US Export-Import Bank, clearly competing with Russia and China, has increased a previously approved direct loan to the Mozambique LNG project, operated by Total SA on the Cabo Delgado coast of the East African country.

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