Daily Briefing November 11 2020
Free to read: First Iran-linked tanker reflags to Samoa | MSC Cruises presses ahead with huge newbuilding programme | Shipping faces taxing questions about state support
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An Iran-linked tanker has switched flag to Samoa, the latest registry of refuge sought by a subterfuge fleet of some 50 ships engaged in deceptive shipping practices to evade unilateral US sanctions.
MSC Cruises is pressing ahead with its sizeable newbuilding programme, even though most of its fleet is currently at anchor.
Shipping has paid on average just 7% of its revenues in taxation during the period from between 2005 and 2019, according to new analysis.
From the News Desk: Shipping was considered among the sectors most at risk from a global pandemic, but many companies have reported earnings either above year-ago figures or have at least exceeded initial expectations in 2020. However, as the year nears its close and optimism grows that the virus can be brought under control, there are factors that may make 2021 even more challenging.
The Lloyd’s List Hong Kong Ship Finance & Law Forum on November 24 will gather a panel of leading financial and legal experts in Hong Kong’s maritime sector to share their knowledge on these issues and more.
The dry bulker market will remain highly volatile against the backdrop of the coronavirus situation despite the recent recovery of rates, according to Precious Shipping.
Global miner Anglo American will be adding four capesizes fuelled by liquefied natural gas to its chartered fleet.
Nicolas Sartini has left CMA CGM after more than three decades with the French group, during which time he held senior positions and gained respect across the container shipping industry.
Pacific International Lines has filed an application for a debt revamp process anchored on a cash injection from a Temasek Holdings unit, invoking legislation that extends the shipping line’s protection against creditor claims.
Braemar Naves Corporate Finance has signed a co-operation agreement with V.Ships Leisure to offer cruise and ferry operators ship finance and associated services.
Miller Insurance Services, the London market broker that places the International Group’s annual $3bn-plus reinsurance contract, has been acquired by private equity outfit Cinven and Singapore sovereign wealth fund GIC for undisclosed consideration.
New criteria for green financing in shipping will seek to promote zero-emissions vessels while shutting out crude oil tankers and liquefied natural gas carriers.
Tanker markets are not expected to return to normal until the 2021 northern hemisphere autumn or winter, crude tanker owner DHT Holdings told investors on a call.
Qatar Petroleum and Pavilion Energy have signed a multi-year liquefied natural gas offtake agreement that will see cargoes being delivered with emissions profiles attached to them.
South Carolina’s port of Charleston has announced throughput figures for October showing a continued recovery and strength in containers, much in line with burgeoning national figures released by the retail industry.
A Mitsui OSK Lines bulker crew who tested positive for coronavirus while off Western Australia have returned home, the Japanese company said.
Shipping’s first movers will need to collaborate to break the main barriers for the development of zero emissions fuels and markets, according to a new report.