Daily Briefing March 10 2021
Free to read: Substandard flag states targeted as regulatory arbitrage rises | Braemar overpaid for Naves acquisition, says new chief | Carriers have little to fear from regulatory oversight
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
Poorly managed or fraudulent flag registries representing developing countries with little maritime technical expertise face renewed scrutiny amid a rise in regulatory arbitrage by shipowners seeking to circumvent compliance with international legal, safety and pollution conventions.
Braemar is set to integrate Hamburg ship finance unit Braemar Naves into its core London-based shipbroking activities, after the listed company’s new chief executive said his predecessor overpaid for the acquisition in 2017.
Container lines are relaxed regarding the prospect of regulatory investigations into the current supply chain crisis, saying they are doing all they can to solve the disruption.
Analysis
Smaller owners that may struggle to reduce carbon emissions on their own can achieve considerable savings by joining a pool in which ships are deployed more efficiently, with fewer ballast voyages, but Maersk Tankers’ Ingerslev insists this is not a first step towards consolidation in the product tanker trades.
The partial sale of its fleet of modern and older tanker tonnage lifted Maersk Product Tankers to a record profit in 2020, but the company warns it is too difficult to predict exactly when the oil tanker market will rebalance and recover.
Opinion
Markets
US imports are expected to grow dramatically during the first half of 2021 while tapering off in the second half of the year, according to the National Retail Federation and Hackett Associates.
In other news
Petredec, the world’s second-largest very large gas carrier owner, has exercised options to acquire three liquefied petroleum gas-fuelled VLGC newbuildings from Jiangnan Shipyard.
Two entities linked to German vessel owner and operator Leonhardt & Blumberg have acquired a pair of handysize boxships for $13.5m from Singapore-listed Samudera Shipping.
The Federal Maritime Commission is facing calls to ensure that ocean carriers are not engaging in ‘unjust and unreasonable’ shipping practices resulting from the pandemic.
K Line, the Japanese shipping company, is launching a dedicated carbon neutrality business unit.
The World Shipping Council is expanding its reach with policymakers with the hiring of two technical and environmental experts.
Stena Bulk, the Swedish shipping company, has unveiled a new potentially game-changing bulk carrier design.