Daily Briefing July 23 2020
Free to read: Singapore sees rising cases of coronavirus-infected crew | Seafarers disembark after months trapped on vessel | Low fuel prices push up scrubber payback periods | Volatility likely to remain in dry bulk
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What to watch | Analysis | Markets | In other news
What to watch
Warning that the entire crew change situation in Singapore may unravel, shipping agency GAC highlighted a rising number of cases of crew joining their vessels in Singapore and testing positive for the coronavirus.
The crew of Maersk Ensenada have signed off at a UK port after months on board after being caught up in lockdowns introduced as part of the coronavirus response.
Analysis
Containership owners are reviewing calculations on scrubber payback times following the lowered spread between high and low-sulphur fuels, according to analyst Alphaliner.
Wilhelmsen Ship Management’s move effectively to take a 50% stake in MPC Capital’s Ahrenkiel Steamship division could spark a realignment of the north German maritime cluster, with shipmanagement rather than ownership becoming dominant, Hamburg industry sources say.
Weekly briefing: Signs that carriers are returning capacity to the containers market, Bahri reports record profits, miners release production reports.
Markets
Volatility is set to remain in the dry bulk market, given the tightness being experienced, according to US-based exchange traded fund Breakwave Advisors.
In other news
Cosco Shipping Energy Transportation has established a tanker subsidiary in Hainan, an island province that China aims to develop into the country’s largest free trade port.
There are more than 40 organisations and initiatives seeking to have a stake in the emerging low-carbon marine market, according to a new report.
The E4C Shipping group has been linked to a deal for two medium range product tankers being built at the Hyundai Mipo yard in South Korea.
The US port of Charleston expects to boost its containerised imports by as much as 5% as a result of a $220m distribution centre to be built by Walmart, the world’s largest retailer.
The coronavirus outbreak has had two main impacts on the container industry, particularly because of the downturn in sales of retail goods such as clothes, luggage and furniture.
Evergreen Marine Corp has been told to improve stowage following a report into the loss of boxes on one of its vessels.