The ship management sector is continuing to face challenges from restrictions aimed at dampening the spread of Covid-19. The latest development saw China place a temporary ban on crew changes by nine companies over coronavirus measures on their vessels. But efforts continue to vaccinate the world's seafarer population, with rising numbers of jabs reported in the US and a growing number of countries offering them.
With editor-in-chief Julian Bray off on holiday, here's what I've been reading this week:
1. China’s coronavirus crew-change concerns infect shipping markets
The move by authorities in Beijing may not have much concrete impact since crew changes have been highly restricted in China. However, it sends a strong signal by the government of the world's largest exporting country and second-largest importer, as correspondents Irene Ang and Adam Corbett report.
2. Hapag-Lloyd to take up to 10 containerships from Greek shipowners
The German liner operator is the latest to take a big move to lock in tonnage, another bullish sign from a box market major. Hapag-Lloyd is said to be looking to charter or buy up to 10 neo-panamax newbuildings from Capital Ship Management and Chartworld Shipping, as Ian Lewis writes.
3. Hoegh LNG Partners refinancing falters amid dispute with charterer
A battle over a floating storage and regasification unit has led Hoegh LNG Partners to slash its dividend, as US correspondent Matt Coyne reports. The fight with PGN LNG, which sought to terminate the charter of the 170,000-cbm PGN FSRU Lampung (built 2014), has also caused a problem for the ship's refinancing.
4. Turkish asset player doubles money on handysize bulker
Low-profile Turkish shipowner Gokhan Ozcan has taken advantage of a hot market for handysize bulkers, striking a deal that will see him double his money in less than a year, as Athens correspondent Harry Papachristou reports. The sale to Greek buyers comes as bulkers in this size range are still seeing surging rates in the spot market, even as larger ships retrench.
5. Howe Robinson boosts LNG team to eight with Braemar hires
Roughly two years after jumping into LNG shipping with the hire of senior broker Debbie Turner, Howe Robinson Partners has grown its team in the sector. The London broker has hired three specialists from rival Braemar ACM Shipbroking, as LNG correspondent Lucy Hine reports.
6. Shipping can do better with carbon disclosure grades
A list of 10 shipping companies are poised to receive their report card from non-profit investors' organisation Carbon Disclosure Project, and in the past the industry has typically come out with an average grade of "C". Paul Berrill explores whether these industry giants will be able to perform better this time around.
