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Daily Briefing October 2 2020

Free to read: Shipping’s cyber defences fail attack test | China port congestion not linked to Australian trade spat | Seaborne fuel oil flows altered by pandemic and sulphur rules

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




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What to watch


While there is so far no evidence to link the cyber-attacks on CMA CGM and the International Maritime Organization, they suggest that expensive systems, processes and protocols to counter criminal acts are not water-tight.

Delays of at least 10 weeks to discharge coal cargoes at northern Chinese ports is due to increased imports and stockpiling ahead of Golden Week, rather than any byzantine geopolitical tussle with Australia.

The low-sulphur rules introduced at the start of this year, combined with pandemic-induced volatility in oil markets, has significantly altered seaborne flows of fuel oil in 2020, according to Vortexa, an oil analytics firm.


Analysis


Traditionally, the average amount of installed power in a shipping fleet has increased over time, as ships have gradually increased in size, but new figures from the Lloyd’s List Intelligence Shipbuilding Outlook show that for larger vessel types, that trend is set to reverse in the coming years.


Opinion


Fiscal instruments can support the shipping industry’s decarbonisation challenge and the Baltic Exchange offers more than only benchmark spot markets, writes chief executive Mark Jackson.



Cyber security has come under the spotlight following two attacks. How organisations communicate over incidents is as important as how they handle the data security.




Markets


Algeria’s move to diversify imports of wheat is seen as beneficial to dry bulk shipping, according to reports, but a cut in import quotas may be less so.

Hapag-Lloyd has named Shell its exclusive supplier to provide liquefied natural gas as marine fuel to its containership Sajir in Rotterdam and Singapore.

Global logistics giant DHL will ship less than container load freight on vessels burning biofuel from the start of next year.


In other news


The International Maritime Organization says it has been targeted by a cyber attack.

Golar LNG, a liquefied natural gas shipping company, said the chief executive of its gas-to-power joint venture has taken a leave of absence to focus on an anti-corruption probe linked to his previous role at Seadrill.

Seadrill has named Stuart Jackson as chief executive to lead its $7.3bn financial restructuring.

The UK is extending its National Minimum Wage Act to cover seafarers.

Swire Bulk, based in Singapore, has appointed Peter Norborg as its chief executive as the dry bulk arm of China Navigation Company splits from its liner shipping and fleet management businesses.

The New York Shipping Exchange has raised $13.5m through an additional financing after a near quadrupling of business.

V.Group, the parent company of shipmanagement giant V.Ships, has appointed René Kofod-Olsen as chief executive.

Navios Maritime Holdings has sold two bulk carriers in its fleet to affiliate Navios Maritime Partners, the two US-listed companies have announced.

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