Special report: North America
Approaching nine months into Joe Biden’s tenure as US president, Lloyd’s List assesses the impact of his arrival on the shipping sector. This special report takes the temperature of the key markets that shape and steer North American shipping, from the oil and gas centres in the US Gulf, to Wall Street finance; and from the Californian container complex of Los Angeles and Long Beach, to Washington’s legislatures.
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Biden’s political landscape carries a sense of déjà vu
In the run-up to the 2022 elections for Congress, many of Mr Biden’s policies are ― and will be ― geared to the needs and interests of workers, as well as the domestic maritime industry
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Sanctions under Biden: still inconsistent, still ambiguous, still in place
Two and a half years after the US imposed sanctions on Iran and Venezuela’s oil and shipping sectors, implementation remains both haphazard and ineffectual
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US emissions policy remains unclear
Apart from an overarching goal to get international shipping to zero emissions in 2050, US intentions for emissions policy remain a mystery
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Signs of hope for US ship finance amid dry bulk boom
Sentiment in ship finance is improving alongside the markets, despite worries over Covid and the wider economy. Rising asset prices are giving private equity firms a long-sought-after way out of the industry, and there are signs that more general funds are coming in
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US seeks to regulate its way out of the container crisis
US exporters are furious at being unable to ship their goods by container. However, a reform of shipping regulations will not fix chronic congestion and infrastructure shortfalls
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Space and communication ease congestion at US ports
‘It is not really a matter of “blaming” the ports; the problem is on the landside, where shortages of trucks, chassis and rail have made it difficult to get containers to and from the ports’ — Lars Jensen, president of Vespucci Maritime
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Full automation ‘no panacea’ for solving congestion
Yet issues with labour, cost and space militate against the idea of adding fully automated facilities everywhere possible
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US Gulf seaborne crude and product flows: Down, but not out
Gulf refineries are shipping less to Latin America as coronavirus outbreaks stall demand
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Corpus Christi goes blue, not green
Port authority signs a non-binding agreement with an energy producer to convert its facility to ‘carbon-neutral’ production
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