Low Carbon Shipping Outlook Suggests Industry Will Need to Do More to Meet GHG Targets — ABS has published the latest trends and projections on carbon-reduction strategies for shipping as the industry looks to meet decarbonization ambitions. Read more here
Oil Tanker
Tanker market fundamentals remain weak
As vaccination programmes bring some hope, the pace of recovery in the tanker freight market is likely to remain slow as new coronavirus outbreaks in some countries present a significant risk. Any near-term recovery will likely to be hampered by the reduction in extraordinary factors influencing fleet availability, such as floating storage demand seen last year. Read more in Lloyd’s List
Don’t expect a quick rate recovery in tanker markets this year, analysts say
Crude tanker owners are still facing difficult market conditions in the months ahead due to slow growth in seaborne trade, senior analysts told an industry forum.
The gloomy outlook comes as spot tanker earnings remain below break-even levels for many shipowners in various segments, despite forecast increases in Opec+ supply and oil demand later this year. Read more in TradeWinds
Which sectors will fare best and worst in 2021?
“Perhaps the most spectacular and at first glance counterintuitive, given the headline macroeconomic backdrop, has been the levels to which the containership charter market has been able to reach in Q4 2020,” Kent said. Read more in Splash!
Norway sets out green shipping policies and budget
During this session, Maritime Strategies International senior offshore analyst Dr Ferenc Pasztor outlined the current status and outlook for green fuels in the European shipping industry. Read more here
Shipping: Mixed blessing of early vaccine
Speaking from London at the sister seminar, MSI managing director Dr Adam Kent cautioned against predictions that the recovery from the pandemic will mirror that from the global financial crisis in 2007-2008. Read more here
IMO needs to fill glaring holes in CO2 rules for shipping, analysts say
Drewry, MSI and London energy institute all highly critical of new global regulation that leave details blank. Read more in TradeWinds
Foresight: Forecasting the Shipbuilding markets in the New Normal
The COVID-19 pandemic has compounded existing uncertainties to create a perfect storm for the shipbuilding markets, as well as having widely differing impacts on different sectors of shipping. Take a look inside the latest foresight!
S&P Deal Book: Celsius Shipping offloads duo; Minerva sells another aframax
Read more in TradeWinds
South Korea cuts further shipbuilding capacity as order slump continues
Is vessel construction becoming a sunset industry in South Korea? Read more in TradeWinds