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Daily Briefing February 4 2021

Free to read: Revealed: The subterfuge tanker fleet keeping Venezuelan and Iranian crude flowing | Disagreement on ship prices stalls newbuilding market | Myanmar’s oil and gas sector may withstand US sanctions

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


A Lloyd’s List and Lloyd’s List Intelligence special investigation uncovers the subterfuge tanker fleet that has evolved to ply sanctioned Iranian and Venezuelan oil trades, and the risks and challenges this provides for shipowners worldwide.

Ordering activity is being slowed by a gap between owners and yards over the expectations of ship prices, brokers have said.

Renewed US sanctions may well hold back Myanmar from fulfilling its promise as one of Southeast Asia’s fastest growing economies.

Ports in Myanmar remain open and customs clearances have resumed following the military coup, though airports remain closed, according to a report from North’s correspondents in the country.


Analysis


Access to information and data and what is done with them will determine the winners and losers in the race to the next phase of digitalisation.

The IMO 2021 resolution has laid the groundwork for shipping companies protecting their operations against cyber threats. With awareness now prevalent across the board, attention will turn to implementation.

The liner shipping industry is facing unforeseen heavy port congestion and vessel delays worldwide, Alphaliner reports, putting its focus on the San Pedro Bay ports of Long Beach and Los Angeles.


Markets


Vessel operating costs across all the main cargo carrying sectors have increased at the fastest pace since 2007.

The container shipping sector has responded to calls for the US’ Federal Maritime Commission to address the congestion issues on America’s west coast.


In other news


A charterparty clause aimed at tackling abuse of automatic identification systems by sanctions busters will be issued within months, according to shipping trade association BIMCO.

Japan’s shipping majors NYK Line and Kawasaki Kisen Kaisha have lifted earnings prospects, backed by their container shipping venture Ocean Network Express.

The US Defense Logistics Agency Energy has awarded Crowley Solutions a five-year contract to deliver military specification fuel to the Eareckson Air Station on the remote Aleutian Island of Shemya, Alaska.

Crude tankers owner Euronav is to buy two new suezmax tankers and have them capable of running on ammonia.

Five trailing suction hopper dredgers operated by Belgium’s Jan De Nul Group have been given the new ULEV (ultra-low emission vessels) notation by Bureau Veritas.

Iran has said it will release the crew of the South Korean chemical and oil tanker Hankuk Chemi (IMO: 9232369) following a request from Seoul after a month of talks.

First Ship Lease Trust has clinched renewals of up to eight years for five product tankers with bareboat charterer James Fisher Everard.

At least five seafarers have died following storms in the Atlantic and the Black Sea.

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