Daily Briefing August 5 2020
Free to read: Beirut port blast: latest news | Is shipping coping with the pandemic? | Shipping’s GHG emissions rising despite efficiency gains | Sanctions body defends UK shipping guidelines | Seafarer crisis is a challenge for the whole marine sector
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
What to watch
In an unprecedented year for the global economy, Lloyd’s List takes an in-depth look at the major segments of the shipping industry and what the next six months hold for container carriers, tankers, dry bulk, LNG, finance and more.
At least two massive explosions in the port area of Beirut, Lebanon, have killed at least 50 people and wounded more than 2,700. According to Lloyd’s List Intelligence, 13 vessels are in port, the largest being the Malta-flagged CMA CGM Lyra, an 11,356 teu containership, and the Panama-flagged Duke I, a 39,999 dwt chemical tanker.
Shipping’s greenhouse gas emissions continue to rise, despite industry efforts to make ships more efficient, according to an International Maritime Organization study.
Britain’s Office of Financial Sanctions Implementation has hit back at criticism of new maritime sanctions guidelines.
Analysis
The global health crisis has exposed structural flaws in the worldwide supply chain that have prompted companies to “fundamentally reassess” their approach to manufacturing and sourcing, according to analysts at Boston Consulting Group.
From the News Desk: There has been criticism that shipping’s progress towards zero-carbon has been too slow, but deciding on the correct steps to decarbonisation as an industry is vitally important for success.
Opinion
Charters could start to be rejected on the basis that a ship’s crew have been on board for excessive periods, raising safety concerns, writes Gemma Pearce, head of marine at the insurance risk and commercial law firm BLM.
Markets
Danaos has said that although there are signs of increased confidence within the containership market, it will stay cautious in its strategy.
Loctek, a Chinese ergonomic office furniture supplier, has accused container carriers of boosting shipping prices amid a sizzling transpacific market.
In other news
The coronavirus outbreak brought about a sharp increase in uncertainty and unexpected freight rate movements but this is not enough to convince major logistics player DHL to change its asset-light strategy and get more involved in owning ocean transportation assets.
Taiwanese container line Evergreen Marine Corporation has made a commitment to responsible scrapping, becoming the eleventh shipowner to publicly disclose its approach to ship recycling through the Ship Recycling Transparency Initiative online platform.
Maran Gas Maritime, the liquefied natural gas shipping management company of the Angelicoussis Group, said managing director Stavros Hatzigrigoris has stepped down.
Scorpio Bulkers, a US-listed owner and operator, has decided to branch out into the wind turbine market with a new order.
Shell is chartering in six more liquefied natural gas tankers to be built in line with energy-efficient designs — to produce lower carbon footprints — in a deal signed with Knutsen LNG, Korea Line Corp and ICBC Financial Leasing.
Britain’s Maritime and Coastguard Agency is to invest £170m ($221m) in a new fibre-based hybrid radio network designed to provide increased reliability, bandwidth and security for its coastguard activities.
Watson Farley & Williams has hired Reed Smith’s co-head of LNG and offshore at partner level, the shipping law firm has announced.
Very large gas carrier owner Dorian LPG has posted stronger earnings for the second calendar quarter of 2020, that is the first quarter in Dorian’s financial year.