Daily Briefing July 24 2020
Free to read: Coronavirus: Hong Kong under pressure to suspend crew changes | China’s congested ports boost floating storage as oil imports hit record | Box port throughput shows signs of stabilising
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Shipping associations in Hong Kong have advised their members to suspend crew rotation in the city, where new cases of coronavirus infection have hit a record high.
Port congestion in China is keeping floating storage volumes elevated, with 309m barrels of crude and products on 250 tankers for more than 20 days.
The International Chamber of Shipping warns that some seafarers are not taking coronavirus protocols seriously after reports emerged of crews arriving on ships with symptoms. It said the irresponsible actions of a small minority could set back the industry’s progress on crew changes.
Ports are showing signs that the worst impacts of the coronavirus pandemic are retreating.
While the South Korean majors are being vexed by weaker prospects of liquefied natural gas carrier newbuildings, China’s largest shipbuilding group is facing the risk of potential US sanctions and the escalating tension between the two countries can only deepen the malaise, writes Cichen Shen.
India plans to store its crude oil in the US strategic petroleum reserves, both to build up an overseas oil stockpile and for trading to benefit from any price rises.
Port operator DP World is set to bid for Shreyas Shipping and Logistics and Avana Global Logistek from Dubai-based Transworld Group.
Hong Kong-based Fleet Management has signed a global services agreement with gas containment specialist Gaztransport & Technigaz as it manages the construction of six very large ethane carriers at Hyundai Heavy Industries and Samsung Heavy Industries.
The Northwest Seaport Alliance is underway with redevelopment of its Terminal 5 facility in the port of Seattle, but faults in the key West Seattle High-Rise Bridge now pose a threat to completion of the project.
Australian maritime authorities are to target container shipping with a new inspection campaign designed to reduce the number of boxes lost at sea.