Top Ten Maritime News Stories 24/03/2016

Seacurus Daily: Top Ten Maritime News Stories 24/03/2016

1. All Time Low
Shipping advisers Moore Stephens reported that overall confidence levels in the industry fell to a record low in the three months ending February 2016, according to the results of the firm’s Shipping Confidence Survey. Overall, respondents reported a confidence level of 5.0 out of 10 for the markets in which they operate, compared with a 5.6 out of 10 in November. It is the lowest rating ever in the survey’s eight years of data collection.
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2. Quantum is no Solace
Tracey Halsam, president of American comms firm Harris CapRock, estimates cyber attacks against oil and gas infrastructure will cost close to $1.9bn by 2018. “As threats loom in the distance, security is a major hurdle that companies need to proactively address,” she says. Computer system invaders attacked 43% of global mining, oil and gas companies at least once last year.  Shipping also faces similar problems, especially as technology evolves.
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3. Bridge of Sighs
A Turkish cargo ship has collided with the piers of the bridge under construction in the Kerch Strait between Russia’s Krasnodar Region and the Crimean peninsula.  The construction of the bridge, intended to link Crimea to the Russian mainland, has not been affected, a source from the Crimean Bridge information center explained to the TASS news agency on March 23. The vessel destroyed pillars, piles, the crossbar and the column cap. 
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4. Reef Hit Causes Sinking
A singledecker general cargo ship owned by Pertamina sunk on Tuesday after hitting a reef off Tagulandang island, located north of Sulawesi Island, Indonesia. The Panama-flagged vessel, Bunga Melati XV (2,300 dwt, built 1980) was loaded with 2,400 tons of bagged cement at the time of the incident, according to press reports in Indonesia. The ship was underway from Indonesia’s Tarjun Port. The hull is thought to have been breached, causing an ingress.
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5. Big Hitters Join Forces
Lloyd’s Register (LR) Tuesday announced it has signed a joint development project agreement to work with General Electric (GE) and Hyundai Heavy Industries Co., Ltd. (HHI) on the design of a 14,000 TEU container ship powered by liquefied natural gas (LNG) fuelled gas turbines and electric motors. The project continues collaboration on the COGES (COmbined Gas turbine, Electric and Steam) propulsion and power system technology.
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6. Dawn of New Era
We are at the dawn of the ship intelligence era where owners, manager and operators will be able to deploy more digital support to crew, or invest in remote control centres and autonomous vessels. The digital revolution will be applicable in all sectors of shipping, even if owners do not want to invest in unmanned ships – the benefits are too compelling. Smart shipping is coming and the industry should be ready to adapt, and adopt the technology.
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7. New Chief Announced
Leon A. Harland will take office as the new CEO and executive director of Malaysia’s Bumi Armada as of May 16. Harland is currently Heerema Marine Contractors’ executive vice-president, commercial & technology. Prior to working for Heerema, Harland worked within engineering and project management at SBM Offshore, where he developed the company’s floating LNG business. Since then, SBM Offshore has go on to become the world’s largest operator of FPSOs.
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8. ReCAAP Celebrates 10 Years
Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) commemorated the 10th Anniversary in Singapore on the 18th March 2016 with the participation of delegations from twenty countries. ReCAAP remains as the first regional government-to-government agreement to promote and enhance cooperation against piracy and armed robbery in Asia.
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9. OSG Cancels IPO
Overseas Shipholding Group (OSG) has abandoned its plans to raise $100m through an initial public offering (IPO) of shares on the New York Stock Exchange (NYSE). The company has asked the US SEC to withdraw its IPO registration statement, which was filed on May 4, 2015. The registration was amended in June that year to list OSG’s Class A shares on the NYSE MKT. OSG said it “does not intend to pursue the contemplated public offering”.
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10. Tanker Impounded for Illegal Bunkers
Nigerian Detectives attached to the Eastern Marine Command of the Nigerian Customs Service (NCS) have impounded an oil tanker, MT AFRICAN BEAUTY, for allegedly operating illegally in the country’s waters. The ship was impounded while operating at the Nigerian National Petroleum Corporation (NNPC) jetty in Warri, Delta State. It is illegal for any shipping company to allow its vessel to operate in Nigeria waters without a valid permit.
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Daily news feed from Seacurus Ltd – providers of MLC crew insurance solutions  www.seacurus.com

 

Best regards,

S Jones
Seacurus Ltd

 

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