Daily Briefing November 9 2020
Free to read: Biden should be a shipping-friendly president | Is the economic turmoil a boon or bane for shipping | China’s ban on Australian coal is blow for bulker owners
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.
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While Donald Trump sees trade negotiations as a zero-sum game, his likely successor has a better understanding of free markets and a more pragmatic approach to foreign policy, which could see him dial back heavy-handed sanctions.
Tanker owners have already made a fortune in the first half of the year, while dry bulker shipping is faring reasonably well and container shipping earnings have been remarkable in 2020, writes Cichen Shen.
China is expected to block imports of Australian coal, copper ore, barley, timber and sugar even if the goods have been paid for and have arrived at ports.
Latest volume data supports the notion of an unprecedented prolonged peak season on the transpacific, where headhaul box numbers surged some 31% in September against last year.
The week in charts: Lockdowns unlikely to boost floating storage record low for general cargo orders.
The Lloyds List Podcast: With the containership sector averaging one fire every two weeks, we talk to Rahul Khanna, the head of marine risk at Allianz, Are Solum, Gard’s senior claim executive, and TT Club risk management director Peregrine Storrs-Fox to find out why the boxes are burning.
Lloyds List Posidonia Week Forum available on demand: The panel discussion looked at the biggest questions facing shipping and the ongoing effects of the coronavirus pandemic.
BIMCO has reported a 27% decrease in the number of oil tankers passing through the Suez Canal in October because of the subdued need for oil transportation after the April crash in oil prices that boosted demand for the vessels.
Boxship owner Danaos is renewing longer-term charters for its fleet at double prior rates as it benefits from the profitable position of its liner industry clients who have successfully managed capacity during the pandemic.
Odfjell Group expects increased competition for vegoil and chemical cargoes as owners experiencing poor earnings for shipping clean products swing to their market.
US-based bulk carriers owner Eagle Bulk has sold three more "vintage" supramaxes, following a disposal in the second quarter.
Norwegian P&I club Gard will seek an unspecified substantial increase in ship-by-ship premium income at the next renewal round after booking a $62m interim loss, with the pain for members offset by a 5% cut to the 2019 estimated total call.
The release of two Russian hostages kidnapped from a Seatrade reefer ship off Nigeria two months ago has coincided with a heightened threat of piracy in the region, a security consultancy says.
Hong Kong-based shipowner Wah Kwong Maritime Transport Holdings is teaming up with another stalwart of the city to start a carbon offsetting initiative based on the latter’s wind farm projects in India.
Yangzijiang Shipbuilding has won a five firm plus five optional newbuilding order for 3,500 teu containerships worth $198m from a Japanese shipowner.
Shipping organisations are launching a call to arms to support seafarers over the upcoming holiday period and is seeking support from across the entire industry.