Officer availability varies significantly by nationality and rank, with important implications for recruitment, retention and wage rates, particularly in light of tightening labour market conditions.

The Chinese government has prohibited the import of Australian coal, which will be detrimental for dry bulk vessels as Chinese importers will shift from Australia to Indonesia and Mongolia, resulting in a decline in average haulage length and a loss in shipping demand.

There is no denying that a sudden plunge in oil demand on account of COVID-19 proved to be a blessing in disguise for the oversupplied crude tanker market in 2Q20, which led to a surge in onshore and offshore storage of crude in March-April. While an increase in onshore storage of cheap oil by refineries boosted tonnage demand, a rise in floating storage of crude oil squeezed tonnage supply in the crude tanker market.

US cargoes are getting discharged at Chinese ports with heavy MEG volume. The trade pattern has the potential to support freight rates on long-haul routes and increase spot activity in 2H20.

The pandemic-led weak projections for economic growth will derail US LNG exports in full-year 2020 with the country also losing ground in the long term due to major delays in liquefaction projects.