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What to watch   |   Analysis   |   Markets   |   In other news

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What to watch

Greek shipowners have criticised support by the Global Maritime Forum for controversial regional decarbonisation rules.

The resurgence of coronavirus is seen as lengthening any global recovery in crude and product tanker rates for at least seven months as analysis points to contracting oil demand growth.

Product tanker owners remain optimistic about the post-pandemic prospects, saying that demand growth for their vessels isn’t anchored to faltering oil demand growth.

Analysis

Bunkering’s centre of gravity is shifting from the hands of traders to producers amid the prevalence of low-sulphur marine fuels, according to a senior executive at China's state-owned Sinopec.

Container shipping is continuing to defy gravity with the peak season extending longer than usual and freight rates still holding firm at near-record high levels.

Markets

Analysts are confident about the prospects for the dry bulk market despite the recent sharp downturn in capesize spot rates.

Oil tanker shipping is unlikely to see its next upcycle until two years from now, one of the world’s largest very large crude carrier owners has predicted.

A new ship finance platform has been launched, which claims to be the first to fully digitise shipownership.

In other news

Performance Shipping, the Nasdaq-listed shipping company that started out as Diana Containerships before transforming itself into a pure tanker owner under its new name, has unveiled top management changes as founder Simos Palios retires.

China appears to be moving ahead with its plan to re-open domestic ports for foreign crew repatriations after allowing two vessels to carry out such operations.

GTT, a leading French liquefied natural gas shipping and storage technology provider, has jumped on the green hydrogen bandwagon by buying an electrolyser manufacturer.

A ship berthed off Western Australia has reported a coronavirus outbreak that has affected 50% of the crew.

The master of the fire-stricken very large crude carrier New Diamond has been released from his travel restrictions almost seven weeks after the vessel caught fire in the waters off Sri Lanka.

The re-election of Jacinda Ardern as prime minister of New Zealand will have a direct benefit on seafarers in the country following the adoption of recommendations from Human Rights at Sea into the government’s policy.

Two boarding incidents in the Gulf of Guinea over the weekend, one of which resulted in a kidnapping, brought the piracy issue in the region back into the spotlight and highlighted security concerns lying ahead as the poor weather southwest monsoon fades away.

Singapore maritime industry stalwart Tan Beng Tee is moving to the Singapore Maritime Foundation to take over as executive director from Kenneth Chia.

Zim is pushing ahead with its strategy of tapping the e-commerce market, signing a strategic co-operation agreement with China’s Alibaba.com.