Seacurus Daily: Top Ten Maritime News Stories 09/01/2018

Seacurus Daily: Top Ten Maritime News Stories 09/01/2018

1. Tanker Still Burning
The huge fire onboard the NITC tanker Sanchi continued after the vessel collided with Chinese bulker CF Crystal in the East China Sea off Shanghai on Saturday night. Rescue vessels are still struggling to contain the inferno, although the shipÂ’s Iranian
owner has claimed the fire is weakening. According to ChinaÂ’s Ministry of Transport, the poor weather conditions including strong winds and high waves at the incident site are hampering firefighting operations. During the search operations for the missing
crews, the rescuers have found a body believed to be one of the sailors from the tanker.
2. Climate Takes Toll
During 2017, the U.S. was impacted by 16 separate billion-dollar disaster events including: three tropical cyclones, eight severe storms, two inland floods, a crop freeze, drought and wildfire. NOAAÂ’s National Centers for Environmental Information says
2017 ties with 2011 for the highest number of billion-dollar disasters for a single year. Since 1980, the U.S. has sustained 219 weather and climate disasters where the overall damage costs reached or exceeded $1 billion (including adjustments based on the
Consumer Price Index, as of December 2017). The cumulative costs for these 219 events exceed $1.5 trillion.
3. Monitoring Comes Online
As of 1 January 2018, subject to a few exclusions, ships over 5000 gross tonnage became subject to monitoring and reporting requirements on carbon dioxide emissions, fuel consumption and cargo carried within all ports under the jurisdiction of a Member
State and for any voyages to or from a port under the jurisdiction. The new monitoring and reporting requirements for ships were established by the EU Regulation on monitoring, reporting and verification of carbon dioxide emissions from maritime transport
(Regulation (EU) No. 757/2015 as amended) ( the “EU Regulation”) which came into force in April 2015.
4. COSCO Chief Steps Down
Cosco Shipping Holdings has announced that chairman Wan Min has submitted his resignation from all roles at the company. Wan, 50, joined Cosco Group in 1990 and had served a number of positions in the group including the general manager of Cosco Group
and director of several different affiliate companies of the group. Wan is moving to state-run China Travel Service Hong Kong where he has taken the chairmanÂ’s role.
5. Counting Costs of Mistakes
The majority of auxiliary engine damage occurring onboard ships happens as the result of human error, according to a new warning from the marine insurer The Swedish Club. An investigation into auxiliary engine damage by The Swedish Club, one of the leading
marine mutual insurance companies, revealed that the majority of all damage takes place immediately after maintenance work. A key finding is that 55% of casualties occur within only 10% of the time between overhaul (TBO), corresponding to the first 1,000 hours
or so of operation after overhaul. In most cases the damage occurs only a few hours after start up.
6. Shipyard Accident Fine
Singapore’s Ministry of Manpower has fined Jurong Shipyard $170,000 for a 2011 accident that killed two yard workers. On October 29, 2011, two employees were working in a cherry picker (manlift) to sandblast the bow of the tanker F Elephant in drydock.
The cherry lift’s boom failed and bent, causing the manbasket at the end of the boom to fall about 90 feet. Neither occupant survived.  The yard had just overhauled the cherry picker several months before the accident, and workers had found significant corrosion
on all of its boom sections.
7. Suez Savings Continue
The Suez Canal Authority (SCA) is extending toll discounts for dry bulk vessels until the end of 2018. In a circular the SCA said there would be a 75% discount on Suez Canal tolls, for both laden or ballast vessels, leaving from or heading to South West,
South & East of Australia; starting at Geraldton port in the South West of Australia and ending at Cairns port at the East of Australia, and heading to, or coming from ports at North West Europe; starting at Cadiz port and ports northwards. The toll discount
is applicable for the period 1 January 2018 to 31 December 2018, which is considered the last date for the voyage to commence.

8. Navy Russian Scramble
A British frigate escorted Russian ships through the English Channel on Monday, BritainÂ’s defense ministry said, adding that it was the latest sign of an upsurge in Russian naval activity near UK waters over the festive period. Royal Navy frigate HMS Westminster
was sent to monitor four Russian vessels over the weekend as they passed close to British waters, the Ministry of Defence (MoD) said, and will stay with the warships as they head north. The MoD added that two Russian frigates, Soobrazitelny and Boiky, and
support vessels, Paradoks and Kola, were believed to be returning from operations in the Middle East.
9. Healthy Market State
The containership charter market has entered 2018 in a much healthier state than it was a year ago, but shipowners remain concerned about the impact of liner consolidation on vessel employment. AlphalinerÂ’s charter index finished 2017 46% higher than 12
months previously, with all sectors recording improvements in what the consultant described as “unusual strength in ship demand in the traditionally slack winter season”. But it was the smaller sizes that saw the biggest rises: for example, a 4,400 teu panamax
vessel commanded a hire rate around 75% more than a year ago, at $7,500 per day.
10. Integrating Technology at Sea
One of the most commonly misunderstood aspects of technology change is that itÂ’s disruptive. ItÂ’s a myth. The best technologies integrate seamlessly. Not only because theyÂ’re better, but because they are reflection of an unmet market need. However, technology
adoption alone wonÂ’t drive digital transformation. Moving to digitised operations and automating processes will drive efficiency gains, but this is only the beginning. To move beyond operational efficiency and realise the full potential that the fourth industrial
revolution can deliver, you need a truly digital vision that encompasses your entire organisation.

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


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S Jones
Seacurus Ltd


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