Seacurus Daily: Top Ten Maritime News Stories 04/01/2018

Seacurus Daily: Top Ten Maritime News Stories 04/01/2018

1. Massive Expansion Plans
In a new year’s address to employees Yoo Chang-Keun has laid down plans to double the size of Hyundai Merchant Marine’s (HMM) fleet by 2022. Detailing how HMM had come through restructuring and saw growth in 2017, Yoo stated: “I am convinced that these
achievements have laid a solid foundation for our long-term plan where we continue to consider ways of doubling our vessel capacity by 2022 including the launching of mega containerships as we deem the environmental regulations in 2020 as a golden opportunity
for our resurgence.”
2. Opportunities in Disruption
Shipping should not shy away from opportunities brought around by the so-called sharing economy with the leader of JapanÂ’s largest line vowing to be at the forefront of disruptive innovations likely to sweep through the industry. In his new yearÂ’s address to
employees entitled ‘From uncertainty, opportunity, Junichiro Ikeda, the president and CEO of Mitsui OSK Lines (MOL) discussed how the likes of Amazon were changing supply chains and how vital it was his staff understood the developing needs of their clients.
3. Ten Missing After Collision
Late on Tuesday night, the 1,500 dwt freighter "Chang Ping" collided with the bulker "Xinwang 138" at an anchorage near Shanghai’s Wusong passenger terminal. The Xinwang suffered relatively minor damage, but the Chang Ping went down shortly after the accident.
A rescue boat arrived on scene within minutes of the collision and hree of the Chang Ping’s 13 crewmembers were rescued, but ten more remain missing. A helicopter and 13 surface craft are involved in an ongoing search, and divers hope to search the wreck’s
hull if conditions allow. As of January 3, river currents were too strong to allow a dive team to enter the vessel.

4. Weather Bomb Goes Off
A severe storm is about to hit the northeastern United States, and commercial shipping is already feeling its effects. A warning is in effect off the mid-Atlantic with forecasts for waves of up to 25 feet and winds to 70 knots. The weather system’s central
pressure is expected to drop by more than 24 millibars in a day, likely beginning as it passes off North Carolina and continuing as it moves north to Cape Cod and on to Nova Scotia. As conditions deteriorate, heavy winds, snow and freezing spray could put
small craft at risk of sinking at their anchorage or pier due to the weight of icing and snow.
5. Vision of Ice Breaking
Dmitry Rogozin, RussiaÂ’s colourful deputy prime minister, has again made headlines by claiming the country will build a series of advanced nuclear icebreakers that have long been considered a mere fantasy. Rogozin said that Russia would build three Lider
class nuclear icebreakers between 2023 and 2025, which would make navigation for commercial traffic in the Arctic possible all year long. These new icebreakers, dubbed project 10510, would follow on three other nuclear ice-traversing vessels that Russia is
already building to the tune of nearly $2 billion a piece: The Arktika, the Sibir and the Ural, have already been floated.
6. Speeding in Whale Zone
Fednav supramax bulk carrier "Federal Cardinal" has been hit with a $6,000 fine by Transport Canada after breaking speed limits in the Gulf of St Lawrence. Transport Canada, a government body responsible for developing regulations, policies and services in
transportation, is enforcing a temporary speed restriction imposed in August because of an increased presence of whales in the area. The zone affected is in the western Gulf of St Lawrence between the Quebec north shore and just north of Prince Edward Island.
Restrictions apply to ships of 20 metres or more in length and the speed limit is 10 knots.

7. Win for Cable Company
UK subsea service provider Global Marine has announced that its maintenance contract with SEAIOCMA (South East Asia and Indian Ocean Cable Maintenance Agreement) has been extended for five years, running to the end of 2022. Under the terms of the extended contract,
Global Marine will provide a newly constructed depot in Subic Bay, Philippines. The new depot will continue to serve as the base of Global MarineÂ’s cable lay vessel the Cable Retriever. Global Marine has been providing maintenance services continuously to
SEAIOCMA since its inception in 1986, when it was part of Cable & Wireless.
8.  Largest Ferry Ro-Ro
Irish Continental Group announced that it has ordered the world’s largest cruise ferry by vehicle capacity. The $200 million ship will be able to carry up to 330 trucks on Irish Ferries’ Dublin-to-Holyhead service, about 50 percent more than the current
vessel operating the route. Freight capacity will be provided on five decks. In an unusual arrangement, the vessel has been designed for three-tier freight bow loading to allow for quick turnaround times.  Passenger facilities will accommodate up 1,800 individuals,
and will include cinemas, state-of-the-art entertainment options, retail outlets, bars and restaurants.
9. Reinsurance Shake Up
The marine and transport re/insurance sector stands to be rapidly transformed by blockchain and IoT technology, both in terms of the risks they underwrite and how they do so, creating new opportunities for re/insurers. “IoT could also give insurers access
to new data, such as station-keeping data for floating offshore platforms or data on ‘hogging and sagging’ of super tankers, allowing insurers to monitor fatigue of vessels,” according to the Lloyd’s Market Association. Although blockchain and IoT technologies
are currently in the pilot stage these lines of business are expected to be among the biggest adopters of IoT.
10. Cruise Ship Breaks Free
A large cruise ship broke free from its moorings due to strong winds in Freeport, Bahamas on Wednesday. A video of the cruise ship during the incident was posted to Facebook. According to the post: The M/V Grand Celebration has broken her moorings in Freeport,
Bahamas and is laying hard against the wharf at FreeportÂ’s cruise terminal. The NW Bahamas is currently under a severe weather warning with wind gusts in the 35-50kt range.

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


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S Jones
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