Daily Briefing March 8 2021
Free to read: Shipping’s ‘big three’ account for almost 80% of CO2 emissions | Charterers challenged over ‘no crew-change’ clauses | Middle East rivalries must come second to oil spill response | The Lloyd’s List Podcast: Shipping’s nuclear option
Good morning. Here’s our quick view of everything you need to know today.
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What to watch | Analysis | Opinion | Markets | In other news
What to watch
The global shipping fleet emitted 614m tonnes of carbon dioxide in 2019, according to the first emissions-collection database compiled by the International Maritime Organization.
The International Chamber of Shipping has held talks with charterers amid concerns the crewing crisis is being prolonged by ‘no-crew-change’ clauses.
An oil spill in the eastern Mediterranean last month has met with regional recrimination rather than collaboration. The priority should be to help Lebanon surmount then immediate crisis, establish the facts, then seek redress through the Civil Liability Convention.
Lloyd’s List Podcast: Shipping's nuclear option.
Analysis
Members of China’s top political advisory body have told the government to step up efforts in developing ships using clean fuels.
The week in charts: The week in charts: Tanker earnings conundrum | China front and centre of global supply chains | Unrelenting box rates.
Opinion
Few doubt digital technology will change the industry, but there are more pragmatic questions now being asked by company boards looking at shipping’s woeful track record in yielding a return on invested capital. Lloyd’s List latest live event gathers industry leaders to discuss a more hard-headed approach to the digital revolution, writes Richard Meade.
It is time for container shipping to start writing meaningful contracts with enforceable terms, writes James Baker.
Markets
Eagle Bulk, a US-listed owner of supramax and ultramax vessels, said it was well positioned to take advantage of the rising market.
Spot rate resilience over Chinese New Year indicates that factors propping up prices have still to be alleviated. Cargo backlogs, port congestion, equipment shortages and sustained high volumes mean shippers are still being charged premiums on the trunk trades.
China will remove port construction dues as part of the government reform efforts to lower companies’ cost burden and spur economic growth.
In other news
Eastern Pacific Shipping has committed to using methanol and ammonia to help it transition to a low carbon fleet.
The growing liquefied natural gas bunkering sector needs to address an issue that can compromise its profitability and emission profile, according to an industry veteran.
Crew kidnapping incidents in the Sulu-Celebes Sea continue to be a worrying trend, according to a Singapore-based monitoring group.
Costas Karadimas, a leading name in Greek shipbroking, has died in Athens aged 77.