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Daily Briefing May 17 2021

Free to read: Shipping’s sustainability scorecard not measuring up | Nations step up vaccinations to boost crew change programmes | LNG is commercial pragmatism not climate activism | Lloyd’s List Podcast: Is LNG really borderline greenwashing?

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


An absence of context and lack of clarity characterise the rising number of sustainability and environmental reports published by shipowners who are keen to reveal their green credentials but unwilling or unable to fully benchmark progress against regulatory goals.

Employers and unions are planning coronavirus testing and quarantine facilities in India to help restart crew changes.

LNG’s climate credentials are dividing the shipping industry into those who support a transitional switch and those who charge gas with little more than greenwashing shipping’s protracted decarbonistion efforts. But are we mistaking climate policy for commercial practicality?

The Lloyd’s List Podcast: Opting for a generation of liquefied natural gas-fuelled ships today will delay climate action in shipping by 20 years, according to Maersk and those dismissing the current trend towards dual-fuelled tonnage as little more than ‘greenwashing’. The podcast sucks the hot air out of shipping’s most important debate and looks at why there is a schism developing in the industry.


Analysis


The Federal Maritime Commission has limited ability to solve the supply chain issues facing US agricultural exporters as container shortages and high freight rates have led to calls for action.

Cargo interests will find it hard to recover losses arising from delay as a result of the Ever Given grounding which forced the closure of the Suez Canal, according to a client advisory from Clyde & Co.

The week in charts: Transpacific surge boosts global box tally | Moribund tanker rates rally | Special Report: China infographic.


Opinion


Expert Focus: Decarbonisation presents a major challenge for shipping, but there are likely to be opportunities for those who know where to look.



Expert Focus: Wärtsilä director of R&D and engineering Juha Kytölä discusses the potential of a dual-fuel transition in shipping.




Markets


Port Klang, a major transhipment hub in Malaysia, has dismissed claims it is facing a severe congestion problem against the backdrop of a pandemic-led disruption.

HMM, the South Korean container line, says it expects rocketing shipping rates to continue as it set a record first quarter of the year operating performance.

Wan Hai Lines has signed a contract with Samsung Heavy Industries to build four 13,100 teu containerships as part of the company’s nine-ship ordering plan.


In other news


Brazilian mining giant Vale will receive the first-ever very large ore carrier that will be powered by the wind as part of its eco-shipping programme.

West of England P&I Club’s combined ratio jumped to almost 140% in 2020/21 from 107% last time round as the International Group affiliate took a hit from the current record level of pool claims.

California’s ports continue to show record high volumes of containerised throughput in line with increased consumer spending fuelled by federal government stimulus cheques and other economic incentives.

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