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Daily Briefing October 9 2020

Free to read: Opec sees fossil-fuelled future for shipping | Opec forecasts stagnant crude oil trade over next decade | LNG bunker tie-up seeks to service east-west trades | Study finds SOx emissions drastically lower using scrubbers

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


Shipping’s path to decarbonisation will not be at the expense of fossil fuels or lead to falling fuel oil consumption, oil producers conclude in latest medium- and long-term forecasts of global energy demand.

Middle East crude and condensate exports are forecast to decline by 1.8m bpd from 2019 levels over the next five years, according to the Organisation of the Petroleum Exporting Countries.

Pavilion Energy, a unit of Singapore’s Temasek Holdings, and Gasum, a Finnish state-owned gas company, are teaming up to extend trans-continental liquefied natural gas bunkering services to oceangoing cargoships.


Analysis


Torm, a Danish product tanker owner, has found that using scrubbers significantly reduced sulphur oxide emissions compared with compliant fuel

The twin uncertainties of future fuels and the state of the global economy are continuing to hold back fleet renewal plans and are likely to do so for some time to come

The global health crisis has shone a light on the shortcomings of maritime digitalisation for both shipping and ports, according to speakers at an industry event.


Opinion


Digitalisation in shipping and the economy: Lloyd’s List will gather leading experts later this month to discuss some of the biggest topics affecting shipping in the Asia Pacific region.



Markets


Surging headhaul volumes on the east-west trades are leading to a shortage of container availability in Asia, while ports in the US and Europe suffer from increasing dwell times and congestion.

Regulators are under renewed pressure to take ambitious greenhouse gas emissions measures amid charterer mobilisation and mounting support for a carbon levy.


In other news


SSL Endeavour Insurance Brokers Ltd (Cyprus) has registered at Lloyd’s, making it the first marine specialist Lloyd’s broker in Cyprus.

BW Group has taken a €20m ($23.5m) stake in a Finnish-Swiss biotechnology company that makes gas and fertiliser from agricultural and fish waste.

New management has been appointed to run Giuseppe Bottiglieri Shipping, the Italian dry bulk-focused private company that began operations in 1850.

Singapore's bunker industry is preparing to meet the challenges of the next decade and digitalisation is seen as a key enabler in this process, but the pace and scale of adoption still needs to gain a consensus to move ahead, an industry event heard.

Germany-based NSB Group is extending its push for expansion in Asia with opening of a new shipmanagement unit in Singapore.

Evergreen Marine, a Taiwanese container shipping company, has appointed industry veteran Chang Yen-I, who has worked for the company for more than 30 years, as its new chairman.

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