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Daily Briefing January 12 2021

Free to read: Widening fuel spreads will benefit scrubber users | Shippers warned to prepare for bunker surcharge increase | Capesizes lead dry bulk gains

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


The price spread between very low sulphur fuel and high-sulphur fuel oil is widening once again, adding benefits to scrubber users.

Shippers were spared the worst impacts of the introduction of new low-sulphur fuel regulations last year due to a collapse in the price of oil following the outbreak of the coronavirus pandemic.

Capesize spot rates have continued to surge, gaining 47% in the past week to reach a three-month high.


Analysis


China’s state-owned traders and refiners accounted for more than one fifth of dirty spot cargoes shipped on very large crude carriers in 2020, an indication of the country’s continuing dominance in the tanker market against the backdrop of the coronavirus.


Opinion


The Lloyd’s List Podcast: We examine whether shippers’ complaints that box lines are profiteering hold any water. We also turn to the results of the Lloyd’s List Decarbonisation Survey conducted late last year in search of some much-needed clarity regarding carbon reduction.


Markets


Leading insurance broker Aon has launched a new fuel product, aimed primarily at the shipping industry, which will allow bunker consumers to buy cover against rising fuel costs.


In other news


The 23 Indian seafarers stuck on board Great Eastern Shipping dry bulker Jag Anand will finally be able to carry out a crew change and head home after the vessel, which had anchored off a Chinese anchorage for months, was allowed to sail for Chiba in Japan.

China’s Yangzijiang Shipbuilding says it has won orders for four ultramax dry bulkers from Bangladeshi conglomerate Meghna Group.

US containerised imports for 2020 appear likely to establish a new record despite the coronavirus backdrop and are projected to remain high heading into the beginning of 2021, according to retail sales experts.

Lloyd’s Register has named influential industry figures as appointees to its decarbonisation hub’s advisory panel.

The International Maritime Organization has named Roel Hoenders as its new chair for air pollution and energy efficiency.

The outgoing Trump administration is to designate Yemen’s Houthi rebels as a terrorist organisation in a move that will likely make it harder to deal with the “floating bomb” tanker Safer in the Red Sea.

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