Daily Briefing November 8 2019 :: Lloyd's List
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Lower refinery runs on the US east coast alongside middle distillate stocks at 18-month lows are expected to result in winter gasoil price spikes in New York, opening up so-called reverse-arb trades for medium range tankers in the transatlantic region.
Shipowners are not placing new orders or selling and leasing back secondhand ships. This situation has led leasing companies in China to use additional operating leases by ordering ships directly with yards in a bid to maintain growth, says ICBC Leasing executive manager Bill Guo.
The Lloyd’s List Podcast is in Shanghai this week where President Xi Jinping has been leading the discussions around trade policy and Chinese shipping giant Cosco has been talking up the value of a multi-lateral, value-added approach to supply chains. Joining Lloyd’s List Editor Richard Meade to discuss everything from trade policy and Trump bashing to Chinese leasing and why cargo interests are leapfrogging shipowners in news deals are China Editor Cichen Shen and special guest Bill Guo, executive director of leasing giant ICBC.
Shipping must take a leaf out of the automotive industry’s book as it maps out a path to a low/zero emission future, Kamuran Yazganoglu, managing director of marine and energy at Castrol, tells Lloyd’s List.
Cleaves Securities is downbeat about the dry bulk se....