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Coronavirus & Dry Bulk

Daily news, analysis and updates from the Lloyd’s List team on how the coronavirus outbreak is affecting the dry bulk sector



How is the coronavirus affecting Dry Bulk?

Take-up of remote surveys has accelerated amid pandemic

When the full threat of Covid-19 became apparent, DNV GL was able to ramp up an already successful existing service — remote surveys. With the first trials in 2018 and full fleet-wide access from February 2019, DNV GL has been a pioneer in this field

International DNV GL Group

Weekly briefing: Box lines' earnings lift, tanker downturn to continue

Major container lines have across the board reported their best second-quarter earnings since 2010 as capacity discipline pays off. Meanwhile, the tanker market is seeing rates below breakeven levels as oil demand continues to be subdued, and dry bulk freight futures are almost on a par with spot rates

International Containers

Tomini Majesty crew threaten hunger strike over crew change delays

Tomini Shipping says that the strike did not go ahead as they have reconfirmed to the crew that they would sign them off in South Korea after the dry docking in China is finished. It said the company had not been able to facilitate crew changeovers as no foreign crew sign-off was allowed in China

China Crewing

Industry commitment is slowly solving crewing crisis

V.Group has taken over a 160-room hotel in Manila to provide an isolation facility for seafarers; shipowners have diverted vessels to effect crew change; seafarer sourcing is expected to be reassessed in light of the logistical nightmare

Crewing Ship Management

Weekly Briefing: Shanghai leads port list; crude fleet growth; decarbonisation timelines

China remains the dominant player in the containers market, new port rankings from Lloyd’s List show, while the crude tanker fleet will see accelerated annual growth over the next five years. Meanwhile, the fallout from the Wakashio grounding off Mauritius continues

Containers Dry Bulk

From the News Desk: Tightening timelines towards carbon-neutral shipping

More shipping companies have committed to accelerate their plans towards a carbon-neutral future, while vessels calling at ports in South Korea and the US have two years to adapt to new emissions control rules

Tankers and Gas Dry Bulk

Swedish Club premiums jump despite coronavirus

New business wins and firmer rates enabled Gothenburg-based International Group affiliate the Swedish Club to come through the first half of this year with more premium income, and hopes to emerge as a more efficient organisation despite the depredations of the coronavirus pandemic

International Sweden

UN denies clearing Rhosus into Beirut port with explosive cargo

Meanwhile, some 18 containerships have docked at the port since the explosion, offloading 10,000 teu and taking on another 10,000 teu, mostly empties

Lebanon Casualty

Weekly briefing: Steep fall in tanker tonne-mile demand; Maersk reinstates full-year guidance

An 18.6% drop in tanker tonne-mile demand was recorded in July, with the steepest falls recorded in the Middle East and West Africa, while the world’s biggest box carrier expects its earnings this year will exceed previous expectations, and there are question marks over the legal ramifications of the Wakashio grounding and oil spill

Containers Dry Bulk

China’s record imports: Miracle or mirage?

BIMCO analyst Peter Sand expects Chinese import growth to ease at some point in the second half of 2020, as the country gradually recovers from coronavirus

China Dry Bulk

From the News Desk: Wakashio disaster raises questions over compensation and crewing

Investigations into the reasons behind the grounding of the Japanese bulker off Mauritius are now underway but already there are concerns over issues such as crew fatigue and whether any eventual compensation payout will cover the costs of the clean-up and economic damage

Tankers and Gas Dry Bulk

Golden Ocean ups charter coverage due to market uncertainty

The John Fredriksen unit said its strategy should lead to higher cashflows and results in the second half of the year. The US-listed company posted a net loss of $41.3m in the second quarter of 2020 compared with a loss of $33.1m in the same period a year earlier

Dry Bulk Norway