Seacurus Daily: Top Ten Maritime News Stories 10/01/2016
1. Massive Panama Overspend
Grupo Unidos por el Canal (GUPC), the contractors’ consortium that built the Panama Canal Expansion, may claim a total of up to $2 billion in additional cost overruns from the Panama Canal Authority, according to figures published by El Pais. The Canal was originally bid at $3.2 billion, but GUPC has now reserved the right to claim up to $5.4 billion more, potentially tripling the canal’s final cost. The group, led by Spanish construction giant Sacyr, expects at least six more years of litigation before its claims are resolved. The new maximum figure allows GUPC the flexibility to make future claims in spite.
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2. Pirates Strike Fishermen
Armed men killed eight fishermen in what appeared to be an attack by pirates in dangerous waters in the southern Philippines, a coast guard spokesman said on Tuesday. The apparent act of piracy came as Philippine soldiers were given a six-month deadline to end Islamist militant threats, including those made on cargo ships in south, where a long-festering insurgency has been exacerbated by the growing influence of the Islamic State militant group. About two dozen sailors and tourists were taken captive by Islamist militants last year in attacks on tug boats and yachts in the Celebes and Sulu seas.
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3. Shots Fired At Iranians
On Sunday, the U.S. Navy destroyer "USS Mahan" fired three warning shots with a .50 caliber machine gun to ward off a group of Iranian attack boats. The incident is the latest and most dramatic confrontation between Iranian and U.S. forces near the Strait of Hormuz, and it follows an established pattern of high-speed approaches by Iran’s patrol craft. U.S. Navy officials said in statements, the Islamic Revolutionary Guard Corps (IRGC) boats approached to within 900 yards and did not respond to the Mahan’s attempts to make radio contact. The Mahan responded with a progressive set of warnings.
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4. Thanking EU Patrols
December marked the end of the eighth year of EU naval operations off the coast of Somalia with the primary task of protecting World Food Programme (WFP) vessels from pirate attacks successful with not a single attack recorded. Operation Atalanta started in 2008 as the EU’s first ever military maritime operation in response to a surge in armed pirate attacks on merchant vessels in the Gulf of Aden and Indian Ocean off the Horn of Africa. Since its launch, Operation Atalanta warships and maritime patrol aircraft have ensured 100% of WFP vessels sailing under EUNavFor’s protection have remained safe from pirate attack.
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5. Asian Shipyard Closures
Singapore-based offshore services company Vallianz has closed its repair and maintenance shipyard in Singapore, and the move will soon be followed by another closure in the region when Hyundai Heavy Industries closes its Gunsan yard. Vallianz will consolidate its yard operations in Batam, Indonesia, citing slower market conditions for its streamlining initiative which includes the closure of non-core business units so that it can focus on vessel chartering. Other closures include the group’s third party crew management and travel services.
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6. Maersk Slashes More Jobs
Maersk Oil announced Monday that it would be reorganizing its core Danish Business Unit, consolidating all employees at one location and eliminating 160 positions. The first phase of reorganization will be completed in the first quarter. “What we are announcing today will ensure our long term future in a sustainable manner and it is a step in our efforts to support the Maersk Oil North Sea ambitions," said Patrick Gilly, managing director of Maersk Oil DBU. "The simpler organisation enables us to operate in a leaner and more integrated way.”
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7. IMO Slams Euro Emissions
IMO Secretary-General Kitack Lim has written to senior European officials expressing his concern that including shipping in the European Union’s emission trading system could undermine efforts to reduce greenhouse gas emissions from shipping on a global basis. In a letter to Martin Schulz (President of the European Parliament), Jean-Claude Juncker (President of the European Commission) and Donald Tusk (President of the European Council), Lim acknowledged that the E.U. had an ambitious policy for addressing emissions and recognized that Member States might wish to enhance the progress made to date.
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8. Collision off Shanghai
Two capesize bulk carriers "Stella Cherise" and "Spartacus" collided in the East China Sea near Shanghai this morning. Spartacus suffered minor damage and is now anchored near Shanghai, while Stella Cherise’s hull has been damaged and is suffering water penetration in the ship cabin. Shanghai Maritime Salvage Bureau and SIPG’s tug unit Fuxing Shipping have all sent ships for rescue works, which is still ongoing. According to Fuxing Shipping, Stella Cherise has currently been stabilized and the crew evacuated.
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9. Shock of Launch Capsize
A shocking video posted online shows the moment a brand new offshore vessel capsized during its launch at a shipyard. I counted at least six people (maybe a seventh) on the deck of the vessel when it rolled over without warning. A tarp can be seen covering the name of the vessel. A gif of the video was posted to the site Imgur last week, but no details about the incident have come to light so far. News agencies are searching for more information as to the identity and location of the yard.
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10. Top Shipowners in 2017
VesselsValue.com has released a new infographic showing the world’s top ten ship-owning nations in the year 2017. Greece is number one on the list despite a 12% dip in fleet value. VesselsValue.com Senior Analyst William Bennett provided the following comments on the new data: “Bulkers have had a deceptively good 2016 following the record lows at the start of the year. The top three bulk owning nations: Greece, Japan and China, have seen their fleets rise by over USD 4 billion each. This growth has been supported by strong acquisitions following some of the lowest asset prices seen since the 1980s.”
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Daily news feed from Seacurus Ltd – providers of MLC crew insurance solutions www.seacurus.com
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S Jones
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