Daily Briefing May 11 2021
Free to read: Aponte and Idan Ofer ink landmark deal for LNG-fuelled boxships | Pipeline cyber attack triggers transatlantic tanker boost | Suez Canal Authority cuts Ever Given compensation demand
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
MSC has reversed its hesitant policy towards LNG-fuelled tonnage with a deal to take an 11-ship fleet of 15,300teu vessels from Eastern Pacific.
Charter rates for transatlantic product tankers surged 117% as oil traders sought tonnage to ship or store gasoline from the US Gulf after a cyber-attack shut the country’s biggest pipeline linking the region’s refineries to the northeast Atlantic coast.
The Suez Canal Authority has reduced its nearly $1bn compensation demand against Ever Given, the boxship whose grounding caused a six-day shutdown of the key waterway in March, to around $600m.
Analysis
Some Australia-China shipments of liquefied natural gas appear threatened by an escalating political dispute between the two countries amid reports that two importers have been told not to buy further cargoes.
Container volumes set a new monthly record in March, with 15.5m teu being shipped globally, according to the latest available figures from Container Trades Statistics.
Opinion
The Lloyd’s List Podcast: Is shipping about to be hit by a global crew shortage?
Markets
Capesize rates have reversed their recent declines as iron ore prices set fresh highs, seen as supportive for freight.
The performance of Japan’s three main lines continues to improve, largely boosted by the stellar performance of their container shipping joint venture Ocean Network Express.
In other news
Two simultaneous explosions were reported on a tanker carrying Iranian oil to Syria two weeks after a similar incident prompted fears of an Israeli drone strike.
EQT, a Stockholm-based private equity firm, has agreed to sell StormGeo, a Norwegian weather intelligence software business, to Alfa Laval.
Hutchison Ports and APM Terminals have finally closed the deal that will see the APMT Rotterdam terminal change hands as Hutchison expands its operations in the European hub.
Global Ship Lease, a containership owner, has increased its dividend amid optimism about the strength of the boxship charter market for at least the medium-term future.