Daily Briefing July 2 2020
Free to read: Class withdrawn from sanctioned ships linked to Venezuela | J. Lauritzen chief steps down as business units are split | Contships makes offer to buy 19 vessels from MPC Containerships
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What to watch | Analysis | Opinion | Markets | In other news
What to watch
Lloyd’s Register has said it has withdrawn class for eight sanctioned vessels linked to shipping Venezuelan cargoes in a further sign that US pressure on marine service providers has extended beyond insurers, flag registries and shipowners.
J. Lauritzen, a Danish owner and operator, has split its tanker and dry bulk business units into separate entities.
Contships Management has made an unsolicited offer for 19 vessels belonging to MPC Containerships.
The shipping industry’s attempts to reduce its climate impact have mostly taken place out of the public eye. In contrast, the auto industry’s environmental struggles are centre stage of humanity’s push to go green.
Analysis
The clock is ticking for shipowners to prepare a so-called inventory of hazardous materials if they want their ships to call a port or anchorage in the European Union.
The move to online documentation has received a huge boost during the coronavirus pandemic, as container line customers try to release their goods, Mediterranean Shipping Co chief information officer André Simha tells Lloyd’s List.
Weekly briefing: Container volumes are unlikely to return to normal levels before the end of this year, according to market analysts. Meanwhile, the short-term outlook for tanker earnings may still be positive despite market sentiment souring in recent weeks.
Opinion
As the rush to digital solutions pauses, respect for the role of seafarers has come from an unusual place. It should not surprise us because the human element remains the bedrock of our industry, writes Richard Clayton.
The EU’s Consortia Block Exemption Regulation was adopted in the pre-digital era of 2009. Today, the exchange of much more digital data presents a different landscape, writes August J Braakman, an advocate specialising in European maritime antitrust law.
Markets
The pandemic-led demand disruption to the cruise sector will bring orders for new vessels into question, but fleet removals over the coming years will be firm.
Large tankers are cannibalising the market for product tankers as transport fuels demand rebound slows.
Sale and purchase activity in the oil product tanker market has slowed to the lowest level since 2016 with the second-hand price for a five-year-old medium range tanker down by 15.7% year-to-date, according to BIMCO.
In other news
An international summit called to address the crew change crisis brought about by coronavirus pandemic lockdowns will be held in London next week.
Shipping emissions across the European Union have declined 6.3% as the number of vessels calling at the region’s ports shrank, according to latest data.
Diana Shipping’s acting chief executive has been elected as the first woman to chair the Hellenic Marine Environment Protection Association.
Global energy demand will fall sharply as virus-hit economies contract, but not by enough to save the planet, according to a study.
The leading association of drayage drivers on the US west coast has criticised a 4.2% rise in a so-called traffic mitigation fee to be imposed on August 1 at the San Pedro Bay ports of Los Angeles and Long Beach.
Thailand’s state-run power company will more than double its liquefied natural gas imports over the next two years.