Seacurus Daily: Top Ten Maritime News Stories 04/12/2017
1. IMO Votes in New Council
The Assembly of the International Maritime Organization has elected the following States to be Members of its Council for the 2018-2019 biennium: Category (a) 10 States with the largest interest in providing international shipping services: China, Greece,
Italy, Japan, Norway, Panama, Republic of Korea, Russian Federation, United Kingdom, United States. Category (b) 10 States with the largest interest in international seaborne trade: Australia, Brazil, Canada, France, Germany, India, Netherlands, Spain, Sweden,
United Arab Emirates. Also Category (c) 20 States not elected under (a) or (b) above.
Italy, Japan, Norway, Panama, Republic of Korea, Russian Federation, United Kingdom, United States. Category (b) 10 States with the largest interest in international seaborne trade: Australia, Brazil, Canada, France, Germany, India, Netherlands, Spain, Sweden,
United Arab Emirates. Also Category (c) 20 States not elected under (a) or (b) above.
https://goo.gl/V4tnHi
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2. CMA CGM Sells Port Arm
The CMA CGM Group has sold its 90 percent equity interest in Global Gateway South terminal in Los Angeles to EQT Infrastructure III and its partner P5 Infrastructure for $875 million. CMA CGM received a cash consideration of about $820 million. The company
will remain a minority shareholder with 10 percent in the terminal and will continue to be a major user of the facility. The disposal is part of CMA CGM’s plan to strengthen its financial structure which was communicated at the time of NOLs acquisition in
June 2016.
The CMA CGM Group has sold its 90 percent equity interest in Global Gateway South terminal in Los Angeles to EQT Infrastructure III and its partner P5 Infrastructure for $875 million. CMA CGM received a cash consideration of about $820 million. The company
will remain a minority shareholder with 10 percent in the terminal and will continue to be a major user of the facility. The disposal is part of CMA CGM’s plan to strengthen its financial structure which was communicated at the time of NOLs acquisition in
June 2016.
https://goo.gl/CFp6SR
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3. Humans and Progress
To realise the full potential of digitalisation, the maritime sector must focus on behavioural change by the human element, argues Transas CEO Frank Coles. In all the excitement surrounding the digitalisation of shipping it is easy to overlook the human element.
Failing to appreciate and understand properly how people and by extension organisations interface with new technology can lead to poor implementation and unnecessary exposure to risk. Technology has sometimes been described as an ecosystem, which is apt
in a shipping environment struggling to adapt to digitalisation, where at least three species are thriving.
https://goo.gl/yzDAgf
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4. Merging of Assets
CMA CGM is merging subsidiaries MacAndrews and OPDR effective January 1, with the merged entitys headquarters to be located in Hamburg. The union between these two companies specialized in intra-European transport enables the CMA CGM Group to strengthen its
multimodal offer in Europe, particularly thanks to the complementarity of the geographical zones covered today by MacAndrews and OPDR, in order to create the sectors leader, CMA CGM said in a statement. The new outfit will have a presence in 16 countries
with almost 600 employees, and all jobs and services will be maintained.
CMA CGM is merging subsidiaries MacAndrews and OPDR effective January 1, with the merged entitys headquarters to be located in Hamburg. The union between these two companies specialized in intra-European transport enables the CMA CGM Group to strengthen its
multimodal offer in Europe, particularly thanks to the complementarity of the geographical zones covered today by MacAndrews and OPDR, in order to create the sectors leader, CMA CGM said in a statement. The new outfit will have a presence in 16 countries
with almost 600 employees, and all jobs and services will be maintained.
https://goo.gl/y6ZyVF
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5. Legal Battle for Employee Bonuses
Norwegian newspaper Finansavisen is reporting John Fredriksens Seatankers Management is engaged in a legal battle over the scale of a bonus payment for an ex-employee. Espen Westerens demands for a NOK20m bonus has been denied and the issue is now going to
court in Oslo with Seatankers claiming Westeren did a poor job in his senior role at the company. The case continues. Seatankers belongs to Fredriksens Golden Ocean Group.
Norwegian newspaper Finansavisen is reporting John Fredriksens Seatankers Management is engaged in a legal battle over the scale of a bonus payment for an ex-employee. Espen Westerens demands for a NOK20m bonus has been denied and the issue is now going to
court in Oslo with Seatankers claiming Westeren did a poor job in his senior role at the company. The case continues. Seatankers belongs to Fredriksens Golden Ocean Group.
https://goo.gl/SSebZT
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6. Britannia Looks to Europe
P&I Club, Britannia plans to set up a subsidiary in Luxembourg as a result of Britains decision to leave the European Union, it said on Friday, to ensure it can continue to trade in Europe. Europe accounts for over 40 percent of Britannias global business,
according to company data. Insurers are making contingency plans because when Britain leaves the EU on March 29, 2019, they could lose passporting rights that allow UK financial services firms to trade in Europe without the need for locally regulated entities.
So far Dublin, Luxembourg and Brussels have been most successful in wooing insurers setting up EU hubs.
P&I Club, Britannia plans to set up a subsidiary in Luxembourg as a result of Britains decision to leave the European Union, it said on Friday, to ensure it can continue to trade in Europe. Europe accounts for over 40 percent of Britannias global business,
according to company data. Insurers are making contingency plans because when Britain leaves the EU on March 29, 2019, they could lose passporting rights that allow UK financial services firms to trade in Europe without the need for locally regulated entities.
So far Dublin, Luxembourg and Brussels have been most successful in wooing insurers setting up EU hubs.
https://goo.gl/rF2PBC
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7. Rotterdam Sets Port Dues
Dutch port of Rotterdam informed that port dues will rise by 1% per year for the next three years. Over the recent period, fixing the development of port dues for three years has provided the market with a lot of clarity, according to the port. Therefore, after
constructive talks, the Port of Rotterdam Authority, Deltalinqs, VRC and VNPI have again decided upon a multi-year agreement. Rotterdam is using this conservative rate of increase in port dues to up its competitive position among the surrounding sea ports.
The Port Authority adopted these specific measures to strengthen Rotterdams position as a container hub.
Dutch port of Rotterdam informed that port dues will rise by 1% per year for the next three years. Over the recent period, fixing the development of port dues for three years has provided the market with a lot of clarity, according to the port. Therefore, after
constructive talks, the Port of Rotterdam Authority, Deltalinqs, VRC and VNPI have again decided upon a multi-year agreement. Rotterdam is using this conservative rate of increase in port dues to up its competitive position among the surrounding sea ports.
The Port Authority adopted these specific measures to strengthen Rotterdams position as a container hub.
https://goo.gl/9ULUhw
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8. Fighting for Ports
UK Shipping Minister John Hayes vowed to be a resolute, committed and determined champion of the UK ports sector when he spoke at the UK Major Ports Group annual reception on 27 November. His words were enthusiastically applauded by UKMPG members gathered
at the House of Commons particularly when he promised that the European Unions Ports Services Regulation, heavily resisted by the UK, would be consigned to the dustbin in the UK due to Brexit. The UK ports sector has increasingly found its voice in recent
years.
UK Shipping Minister John Hayes vowed to be a resolute, committed and determined champion of the UK ports sector when he spoke at the UK Major Ports Group annual reception on 27 November. His words were enthusiastically applauded by UKMPG members gathered
at the House of Commons particularly when he promised that the European Unions Ports Services Regulation, heavily resisted by the UK, would be consigned to the dustbin in the UK due to Brexit. The UK ports sector has increasingly found its voice in recent
years.
https://goo.gl/cXngq5
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9. Barges Spell Disaster
Port of Antwerps new service quay for barges on its left bank is an excellent initiative, but there was a warning that dangerous practices will persist if the congestion issue is not addressed. The 2.4m quay provides additional holding berths for barges
carrying dangerous goods. An industry source praised the initiative and said it formed part of the port authoritys strategy to create a more attractive inland navigation image. The source added that the port would be making further improvements to its inland
waterways over the next 12 months, but said ongoing congestion made the prospect of accidents very real.
Port of Antwerps new service quay for barges on its left bank is an excellent initiative, but there was a warning that dangerous practices will persist if the congestion issue is not addressed. The 2.4m quay provides additional holding berths for barges
carrying dangerous goods. An industry source praised the initiative and said it formed part of the port authoritys strategy to create a more attractive inland navigation image. The source added that the port would be making further improvements to its inland
waterways over the next 12 months, but said ongoing congestion made the prospect of accidents very real.
https://goo.gl/kzfpwr
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10. Migrants In Shark Frenzy
At least 31 migrants were killed when their boat sank off the coast of Libya during a treacherous crossing from Africa to Italy. According to Libyas navy who rescued 200 others the victims were eaten by sharks that swarmed around the sunken boat,
Italian media reports. Some 18 women and three children were among the dead, while 40 people are still missing. When Libyan coastguard boats arrived at the scene, they say large blue sharks were spotted swimming nearby. The 200 rescued migrants were brought
back to port in Tripoli, officials said.
Italian media reports. Some 18 women and three children were among the dead, while 40 people are still missing. When Libyan coastguard boats arrived at the scene, they say large blue sharks were spotted swimming nearby. The 200 rescued migrants were brought
back to port in Tripoli, officials said.
https://goo.gl/yKjLjB
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Daily news feed from Seacurus Ltd providers of MLC crew insurance solutions
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