Seacurus Daily: Top Ten Maritime News Stories 15/01/2018




Seacurus Daily: Top Ten Maritime News Stories 15/01/2018

1. Huge Cyber Hits
A survey carried by the Danish shipowners association has found that 69% of 26 local owners were hit by cyber criminals in the past year.   In the poll of CEOs of local lines carried out by Danish Shipping, 42% of executives indicated that they are very
worried or extremely worried that their company will be attacked or that their data will be lost in the coming 12 months. “It is worrying that a majority of shipping companies have been subject to attacks against their IT systems and unfortunately this is
a threat that is not expected to diminish in future\2, said the Danish Shipping executive.
https://goo.gl/QaoUeV
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2. Sanchi Finally Sinks
NITC tanker Sanchi, which has been burning in the East China Sea for over a week, sank today after another major explosion onboard the vessel. According to China’s Ministry of Transport, the tanker suffered a major explosion around noon on Sunday and sank
about 4:45pm local time. Sanchi collided with Chinese bulker CF Crystal on January 6, triggering a huge fire on the tanker. An initial explosion occurred on January 10, forcing the suspension of firefighting operations for a day. Iranian authorities have since
declared that all of the 32 crew members from the vessel are dead.
https://goo.gl/LVxUkL
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3. Tanker Goes Missing
U.K. tanker-owner Union Maritime has reported that its tanker MT Barrett, which was at anchor off Benin, West Africa, has not been heard from since late on January 9. Local maritime authorities have been alerted. “Whilst we are tirelessly working to locate
the vessel, our primary concern is for the 22 crew on board and ensuring their safety,” said the company in a statement. “Union Maritime regularly operates from ports in this region and has a rigorous safety and security protocol. Crews are repeatedly drilled
in all safety and emergency procedures.” The 11999dwt tanker was built in 2005 and registered in the Marshall Islands.
https://goo.gl/CNHTdv
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4. Fuel Prices on Rise
Escalating fuel prices are posing a renewed risk to carrier profitability, adding to the twin threats of new container capacity coming on stream as softer demand hits after Chinese New Year. Brent crude is forecast to top $70 a barrel this week – its highest
level since mid-2015 – having risen by 35% in the past six months. The trend shows little sign of abating, given the ongoing battle between OPEC and shale producers, as the former grouping – with the support of Russian oil producers – limits supply and geopolitical
tensions, particularly over Iran.
https://goo.gl/EuJDRP
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5. Failing Firm Gets Lifeline
Singapore’s Ezra Holdings has been granted an extension by the United States Bankruptcy Court giving it until February to file a plan of reorganisation. Ezra has until February 19 to file a reorganisation plan and an exclusive period through to April 12
in which to solicit acceptance of the plan. Ezra filed for chapter 11 bankruptcy protection in the Southern District of New York bankruptcy court last March, just weeks after subsidiary Emas Chiyoda Subsea filed for chapter 11 in Houston, Texas.
https://goo.gl/GQfKfJ
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6. Renewables Set to Ramp Up
A new cost analysis from the International Renewable Energy Agency (IRENA) predicts that all renewable energy technologies will be able to compete with fossil fuels on price by 2020. Renewable Power Generation Costs in 2017 states that competitive procurement
practices together with the emergence of a large base of experienced medium-to-large project developers competing for global market opportunities are new drivers of recent cost reductions, in addition to continued technology advancements. 
https://goo.gl/XsrxJd
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7. Ship Lender Being Bought
Cerberus Capital Management LP and J.C. Flowers & Co LLC are edging closer to acquiring HSH Nordbank AG after jointly offering more than 700 million euros ($850 million) for the once-stricken lender, according to people familiar with the matter. Rival
private equity firm Apollo Global Management remains the only other contender for buying the commercial lender, the people said, declining to be identified because talks are private. The bank’s owners, the states of Hamburg and Schleswig-Holstein, are set
to meet Monday to decide on the next step.
https://goo.gl/jcpCZw
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8. Russian Inspection Woes
The Finnish government has voiced concern over surprise inspections on Finnish cargo ships visiting Russian ports in recent weeks, saying delays had been a problem for shipping companies. Neighbouring Russia carried out seven thorough inspections in the past
two weeks on Finnish ships at St Petersburgh and other ports, without giving a specific reason, a government minister said on Friday. Such inspections usually take place for Finnish ships only a few times a year globally.
https://goo.gl/b2qnao
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9. Singapore Box Boost
Singapore container port handled 33.7m teu last year up 8.9% on 2016, however, volumes were still marginally lower than the record year of 2014. Retaining its place as the world’s second largest container port Singapore saw an 8.9% growth in volumes in
2017, following flat growth in 2016. “Singapore put up a strong performance in 2017. Our container throughput rose by 8.9% to 33.7m teu, due to the pick-up in the global economy and PSA’s efforts to anchor major shipping alliances here,” said Lam Pin Min,
Singapore’s Senior Minister of State for Transport and Health.
https://goo.gl/CJezvz
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10. Ore Giant Built
The second-largest ore carrier in the world was officially named Yuanhehai and delivered to China Ore Shipping, affiliated with China Cosco Shipping Corporation, in Shanghai, the state media reported. The 400,000-dwt mega ship, which is 362 meters long,
65 meters wide and 30.4 meters high, was delivered almost a year after the deal was made in 2016, China News Service reported. The Yuanhehai is the second-generation very large ore carrier (VLOC) designed by Shanghai Waigaoqiao Shipbuilding Company.
https://goo.gl/Qcb6sR
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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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