Seacurus Daily: Top Ten Maritime News Stories 01/02/2018

Seacurus Daily: Top Ten Maritime News Stories 01/02/2018

1. Very Large Gas Collision
The very large gas carrier (VLGC) "Passat" collided with the anchored crude oil tanker New Confidence on January 31. The incident occurred at the outer anchorage in the area of Pyontaek, South Korea at around 1 pm local time on January 31. Avance Gas Holding,
the owner of the 53,701 dwt Passat, informed that there were no injuries to crew or officers on the ships. Although the VLGC suffered hull damage in the incident, which was described by the company as a “minor collision”, there were no reports of pollution
to sea or air.

2. The Big Pink ONE
Ocean Network Express (ONE), the joint container shipping venture of the three Japanese carriers Kawasaki Kisen Kaisha (K Line), Mitsui OSK Lines (MOL) and Nippon Yusen Kaisha (NYK), has started taking bookings from today two months ahead of its official
start of operations. The merged fleet of ONE will have a total capacity of approximately 1.44m teu, making it the sixth largest carrier in the world. The new entity will be headquartered out of Singapore with regional headquarters to be established in Hong
Kong, London, Richmond and Sao Paulo.
3. Long Term Crude Deal
South Korea’s Hyundai Merchant Marine (HMM) has inked a long-term crude oil shipping contract worth KRW190bn ($176.7m) with compatriot GS Caltex. HMM will transport a total of 19m tons of crude oil from the Middle East to South Korea over a period of five
years from July 1, 2019 to August 31, 2024.
HMM will deploy two 300,000 dwt VLCCs which were ordered last September. C.K. Yoo, CEO of HMM, commented: “HMM will secure stable and consistent profits by increasing long-term contracts with a global customer base.”
4. US View on Union
Following President Donald Trump’s State of the Union speech Tuesday night, the American Association of Port Authorities called on the White House to include the maritime sector in the president’s proposed $1.5 trillion infrastructure plan.  "We’re particularly
pleased the president focused on transportation infrastructure in his State of the Union speech, which helps draw further attention to the value that a 21st century transportation system, and by extension, ports, provides the nation," said AAPA President and
CEO Kurt Nagle.

5. Container Crypto Start
Hong Kong-based 300cubits will start handing out its TEU tokens to shippers, forwarders and third party logistics providers on February 1. The company will release 20 million TEU tokens designed to be used as digital shipping booking deposits to solve
the no-show and rolling problems it says plagues the container shipping industry. 300cubits co-founder Johnson Leung told Alphaliner that the technology could help solve a $23 billion a year problem. “Much of the no-show or rolling happens because the counterparties
(carriers and shippers) handle bookings casually.
6. Zero Safety Success
ABS announced it had zero work-related lost time incidents during 2017. The corresponding Lost Time Incident Rate (LTIR) of 0.00 represents a significant milestone in the organization’s continuing journey to safety excellence. “Safety is the heart of our
mission and remains at the core of all we do, so we are thrilled to realize this exceptional safety record result,” said ABS Chairman, President and CEO, Christopher J. Wiernicki.

7. Quiksilver Search Called Off
France’s coastguard has called off searches for the head of the U.S. firm that owns the Quiksilver surfwear brand, a day after his boat washed up empty on the country’s Atlantic coast, local authorities said. Pierre Agnes had gone out fishing in his 36-foot
(11-meter) boat on Tuesday morning and later sent out a message to port authorities indicating that he was delaying his return because of thick fog. A sea search with four helicopters and two boats was launched after his beached boat was found without him
not far from Hossegor, the surfing resort where the 54-year-old had set out.
8. New Asia Americas Route
Beginning in April, Hamburg Süd is launching a new service network between Asia and South America West Coast, Mexico, Central America and the Caribbean. Concealed behind the well-known service names ASPA and ASCA will then be a completely new product to
replace the present partnership with other liner shipping companies through a vessel sharing agreement (VSA) in this trade. Customers will benefit from additional direct connections, higher sailing frequencies, greater flexibility as well as shorter transit

9. Rebirth of Large Ore
U-Ming Marine Transport (Singapore) Private Limited, a subsidiary of U-Ming Marine Transport Corporation (2606), has signed a 25-year Contract of Affreightment (COA) with Vale International SA of Switzerland. The COA is the biggest and longest commitment
in U-Ming’s history and the total contract value is anticipated to be more than US$600 million with a bunker adjustment clause. The owner has also ordered two 325,000 deadweight tons Very Large Ore Carriers (VLOC) from China’s Qingdao Beihai Shipbuilding Heavy
Industry Co. Ltd. to facilitate the contract.
10. Circling Rolls-Royce
Finland-based technology group Wärtsilä is open for acquisition opportunities in the market that might fit its strategy moving forward. The likely candidate could be Rolls-Royce’s loss-making marine division which has been put under strategic review by
the company. Speaking on the potential acquisition of Rolls-Royce’s business Jaakko Eskola President & CEO said that Wärtsilä would “need to look at what is available there and what is going to be their final plan.” “If we see an interesting player in the
market, who would fit well into our strategy… we would definitely look at it,” Eskola noted.

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


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