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Daily Briefing January 5 2021

Free to read: Ships urged caution after Iran tanker seizure | Navios Partners and Navios Containers agree merger | ZIM eyes fourth IPO bid on NYSE main bourse 

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   |   Markets   |   In other news




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What to watch


BIMCO has urged extra caution to shipowners after Iran detained a South Korean tanker in the Strait of Hormuz for alleged “oil pollution”.

Navios Maritime Partners and its 37.5%-owned subsidiary Navios Maritime Containers have agreed an all-share merger.

Israeli container carrier ZIM has filed for an initial public offer on the main board of the New York Stock Exchange, aiming to raise up to $100m from its fourth bid at going public.


Analysis


A number of containerships have been waiting for berths at the congested terminals at Los Angeles and Long Beach since Christmas Day, with one vessel now reported at anchor for a full two weeks.


Markets


The capesize market has opened the year at continued healthy levels, reaching a two-month high.

Low freight rates in the dry bulk segment last year saw around 50 capesize vessels, mostly under 25 years old, making their trip to the world’s ship cemeteries.


In other news


A former chairman of the China Shipbuilding Industry Corp, Hu Wenmin, has been expelled from the Chinese Communist Party and prosecuted on malpractice and corruption charges.

China’s Jovo Energy Co is poised to raise Yuan2.7bn ($413m) for its liquefied natural gas carrier newbuilding project, having received long-awaited approval for its proposed initial public offering.

An Evergreen containership has lost 36 boxes off Kyushu, Japan, the company said over the weekend.

CSSC (Hong Kong) Shipping has agreed on a sale and leaseback deal for four newbuilding kamsarmax dry bulkers ordered by China Minsheng Trust Co.

Lloyd’s Register in Singapore has suspended all survey and audit activities after one of its marine surveyors was among two shore-based workers who tested positive for coronavirus infection.

International law firm Watson Farley & Williams has appointed maritime disputes expert Mike Phillips as a partner in London.

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