Daily Briefing June 10 2020
Free to read: Evergreen and Yang Ming set to receive state-backed loans | EU database for shipping emissions rules gets Greens approval | Hong Kong further eases crew change restrictions
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Evergreen and Yang Ming are expected to receive state-backed loans totalling $T16bn ($568m) as part of Taiwan’s plan to alleviate the financial pressure facing the local shipping sector.
The European Parliament’s leading maritime emissions legislator is confident in the European Union’s emissions database, but she tells Lloyd’s List she wants shipping companies to be more responsible.
Hong Kong has exempted crew members for all cargo ships from its quarantine rules to better facilitate crew changes during the coronavirus pandemic.
Lack of transparency and varying costs applied by different ports and carriers for detention and demurrage has long been a major complaint of shippers.
The combined market share of the US west coast container ports has declined by nearly a fifth since 2006, and will continue to do so unless issues such as high costs, excessive regulation and lack of investment can be addressed.
From the News Desk: Governments are not implementing crew change protocols quickly enough, meaning the majority of seafarers are still waiting to be repatriated.
Lloyd’s List magazine: The underlying theme of the latest issue centres on how the shipping industry will adapt to the ‘new normal’ in the post-coronavirus years.
Steel demand is estimated to contract this year, potentially hurting bulker demand. The World Steel Association forecasts that global steel demand will contract by 6.4% to 1.7bn tonnes because of the coronavirus crisis.
US sanctions against the Islamic Republic of Iran Shipping Lines and its Shanghai-based subsidiary, E-Sail Shipping Company, came into effect this week.
Monaco-based owner GoodBulk remains cautious on coronavirus-hit dry bulk market but says Brazilian ore export recovery and easing of lockdowns will fuel better earnings.
Port of Gothenburg said vehicle exports have increased since the end of April in a sign of recovery from the coronavirus pandemic.
Awilco Drilling has terminated a semi-submersible rig building contract with Keppel Corp after alleging certain breaches relating to the project management, schedule, resourcing and compliance.
Norway’s oil and gas producer Equinor aims to lower the carbon intensity of its tanker fleet by 45% by 2025 compared with 2008 levels.
AP Moller-Maersk chief climate change adviser John Kornerup Bang has announced he is leaving the Danish company.
Safe Bulkers has locked three of its panamax vessels into five-year time charters with an undisclosed charterer, indicating its intention to maintain a mix of period time chartering and spot market deployment for its fleet of 42 bulkers.
Polaris Shipping-owned very large ore carrier Stellar Banner, which ran aground off Brazil in February, has been declared a constructive total loss with plans underway to sink the wreck.
The impact of Covid-19 at major US container ports appears to be easing slightly, with projected imports remaining below last year’s levels but not as low as previously forecast, according to US retail experts.