Top Ten Maritime News Stories 29/06/2016

Seacurus Daily: Top Ten Maritime News Stories 29/06/2016

1. EU Drops Anti-Trust Action
World No.1 container liner Maersk, Swiss peer MSC and 13 other shipping firms are set to escape possible penalties as EU antitrust regulators plan to accept their offer to end a five-year probe. The European Commission is likely to announce its decision next month, which means no fine or finding of wrongdoing against the companies, the sources said. Commission spokesman Ricardo Cardoso declined to comment. The case, which focuses on the way the companies announce price increases, could have repercussions for other sectors such as supermarkets and chemical firms, which faces allegations of similar collusive behaviour.
2. Danes Want More Facts
The Danish Shipowners’ Association has called for more fact-based figures on how much the shipping industry can reduce CO2 emissions, as well as related impacts. The association says that, while there are already a number of initiatives underway to reduce CO2 emissions, more needs to be done to quantify how much the industry can undertake to align its reductions with the COP21 agreement. "We lack knowledge about how and how much CO2 emissions from shipping can be lowered. There is a need for a concrete idea of ​​how far you get through technical and operational measures," said the Danish Shipowners’ Association.
3. Maersk Loses Qatar Deal
Saad Sherida Al-Kaabi, president and CEO of Qatar Petroleum said that Maersk Oil, the operator of the nation’s offshore Al-Shaheen field for over two decades, had lost a bid to renew its lease for oil and gas production. The field will be handed over to a new joint venture formed by Qatar Petroleum and Total (with a 70/30 equity split). Analysts Clarksons Platou estimate that the loss of the contract could reduce 2016 earnings for Maersk Group by $150-200 million, about equal to group earnings for the first quarter of this year.
4. Time to Embrace ECDIS
Dick Welsh from the Isle of Man ship registry tosses his slide rule and steam tables in the bin as he ponders shipping’s intransigence to accept new technologies. In talking of ECDIS (electronic chart display information system), and a general trend within the industry of reluctance to take the leap into new technologies.
Why the reluctance? Dick wants designers and regulators to embrace new technology. To show youngsters that the bridge of a ship or yacht looks more like the Star Ship Enterprise than the Titanic. They expect touch screens and up to the minute displays – it is time to move on!
5. More Horrific Piracy Tales
The recent Oceans Beyond Piracy report into the effect on seafarers has made a number of key findings: 25 percent of former hostages have symptoms consistent with Post-Traumatic Stress Disorder (PTSD). Being held hostage, more than any other type of piracy experience, leads to lasting effects. Seafarers are exposed to a fairly high number and degree of traumatic experiences in the course of their regular employment. The maritime environment is dangerous, and seafarers are regularly exposed to traumatic experiences other than piracy. Traumatic experiences impact the decisions seafarers make about their work.
6. Explosive Salvors Called to Mutiny Wreck
Authorities in Mauritius have reportedly hired in marine salvage and demolition firm Demex International to assist with the removal of the grounded bulker Benita. Demex’s experience includes the explosive wreck reduction of the grounded vessels "BBC China", "Kipperousa", and "Jolly Rubino"; The report said that lead salvors Five Oceans would use a combination of mechanical devices and towing to remove the grounded 45,000 dwt bulker from the rocks. Defi Media reports that the 100 ton bollard pull salvage tug Ionian Sea FOS is on site, stabilizing the Benita, and the 90 ton bollard pull Coral Sea FOS is under way.
7. Exchange Talks Extended
Singapore Exchange Ltd (SGX) and London’s Baltic Exchange have extended by two months exclusive talks which may lead to a sale of the British company at the heart of global shipping, the two firms said on Tuesday. Founded in 1744, the privately-owned Baltic Exchange is no longer a forum for chartering vessels but owns benchmark indexes for global shipping rates and provides a trading platform for the multi-billion dollar freight derivatives market. On May 25, the two sides said SGX was in exclusive talks to buy the Baltic, which were due to expire on June 30. They said on Tuesday the exclusivity period had been extended.
8. Full Merger Terms Agreed
Container lines Hapag-Lloyd and United Arab Shipping Company (UASC) have agreed on the terms of a merger. All shares would be transferred to the German carrier as part of the deal, which has been approved by Hapag-Lloyd’s supervisory board. The merger is still subject to approval from Hapag-Lloyd’s anchor shareholders and from UASC shareholders, who will meet at an extraordinary general meeting in Dubai on Wednesday. Merger discussions to date have been based on a relative valuation of the two businesses at 72% for Hapag-Lloyd and 28% for UASC.
9. Judgement Brings Owner Cheer
In a judgment that will bring cheer to ship owners, the Bombay high court has said that a ship cannot be barred from sailing off merely because its cargo has been detained by a court order in a dispute between two other entities. Coming to the aid of Vietnam-registered MV Ocean 39, the HC said the company that sought attachment of its cargo must offload it and store it elsewhere by June 29 at its own cost. Justice SJ Kathwalla passed the judgment in a plea made by Hoang Anh Shipping JSC to let its ship set sail immediately from Tuticorin port and harbour where it has been docked since March 15.
10. Liverpool2 Tested and Ready
With marine-based commissioning work being underway at Liverpool2 terminal, the Mediterranean Shipping Company’s (MSC) has teamed up with Peel Ports for trials by using its vessel "MSC Nederland". Berthing and marine trials began last week and will be followed by a variety of cargo handling tests throughout July and August, according to Peel Ports. “This is yet another major milestone for the project and we’re delighted to have the involvement of MSC in the initial marine commissioning and berthing trials at Liverpool2,” David Huck, Port Director, said. Four other MSC vessels will be used during the trials.

Daily news feed from Seacurus Ltd – providers of MLC crew insurance solutions


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