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




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

1. Ahead of New Fuel Curve
All vessels entering Taiwan’s commercial ports must use 0.5% sulfur bunker fuel or other compliant fuel from January 1 next year, a statement issued by the Ministry of Transportation and Communications said. The move comes one year ahead of International
Maritime Organization’s mandate to lower the sulfur cap in marine fuels, and places Taiwan ahead of much of the rest of the world, trade sources said. Under IMO’s International Convention for the Prevention of Pollution from Ships, or MARPOL, the global sulfur
cap in marine fuels will be lowered to 0.5%, from the current 3.5%, on January 1, 2020.
https://goo.gl/Qn49hs
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2. Review of Maritime Growth
The UK Government has published its Maritime Growth Study review, which assesses the progress made against the recommendations of the Maritime Growth Study 2015. It also highlights 10 commitments, in light of changes to the UK’s economic and political
environment, which focus on the immediate and long-term future. The review makes it very clear that, whilst progress has been made, the pace of change in both government and industry has at times been slow. For some a lack of clarity exists about what we will
deliver and this review defines a clear set of near-term commitments for industry and government.
https://goo.gl/weh9PW
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3. Shell Mega Oil Find
New Orleans-based Shell Offshore Inc, a subsidiary of Royal Dutch Shell, on Wednesday announced what it called one of its largest discoveries in the US Gulf of Mexico. The find is from the Whale well in Alaminos Canyon Block 772 in the Perdido area about
200 miles southwest of Houston, Texas, and includes more than 427 metres of oil-bearing pay, Shell Offshore said. It lies in about 2,438 metres of water. Whale is a joint venture with Shell holding the majority 60% operating stake and co-owner Chevron 40%.
https://goo.gl/oUHaaH
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4. Crew Set to be Paid
The crew of the troubled Malaviya Seven supply ship look set to be paid within the week. The workers have been waiting for £714,000 in unpaid wages for almost two years. The crew spent 18 months stuck in the city’s port after the ship’s former owner was
liquidated. A sheriff has ordered the release of money to the International Transport Workers federation will pay the men involved. The ship set sail from Aberdeen Harbour on Saturday afternoon under its new name Sartor after its sale was completed. The Malaviya
Seven was detained in June 2016, and again in October that year, under merchant shipping regulations.
https://goo.gl/WVSRVg
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5. Bulkers Are Attractive
In the past week, dry bulk sales continue to dominate S&P activity, with buyers interest still focusing on the panamax and supramax sectors. Of greater interest has been the sudden, serious pick up in activity for boxships, especially feeder bargains.
And the final week of January also saw tanker deals finally concluded after a slack start to the year. “On the dry bulk side, the market is still showing a strongly bullish face, with activity still rolling at a relative high pace, while of late strong signs
of price increases are showing face.” Allied Shipbroking said in its latest report.
https://goo.gl/xQ8zyS
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6. Selling Unfinished Ship
Wuhan Maritime Court will hold an auction for an unfinished 79,600 dwt bulk carrier JSH413 at bankrupt Jiangsu Shenghua Shipbuilding on March 1 via online platform Taobao at the request of the yard’s creditors. The starting auction price for the vessel
is RMB38.58m ($6.12m). According to the auction files, the ship has been abandoned for years and some parts of the ship might not meet IMO requirments.
https://goo.gl/cvtgzv
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7. Goodbulk Good Deal
Greek owner GoodBulk has agreed a deal to sell its 2003-built capesize Aquabeauty to Greek buyers for $15m. The Aquabeauty was acquired by GoodBulk last May for $10m. The 171,014 dwt vessel, built at Japan’s Sasebo, will be delivered to its new owner in
March or April. Broker speculation is that either Bright Navigation or Spring Marine have acquired the vessel. GoodBulk also took delivery of two secondhand capesizes in the last week and now has a fleet of 14 capesizes, one panamax and two supramaxes, with
an additional seven capesizes expected to be delivered during the first quarter of 2018.
https://goo.gl/rraePB
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8. Robbers Raid Ship
Two robbers armed with knives boarded an anchored bulk carrier in Godau Port, Vietnam, on January 31, IMB Piracy Reporting Centre informed. Once onboard, the robbers took one of the crew members, the bosun, hostage, threatened and injured him with a knife.
As informed, the injured officer was then tied up as the robbers ransacked the ship. However, the bosun managed to free himself and inform the ship’s master of the incident, who then raised the alarm and the crew mustered. A search was carried out and ship’s
stores were reported missing, but the robbers were not caught.
https://goo.gl/PNHBo1
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9. Baltic Drops Dry Bulk
The Baltic Exchange is dropping handysizes from its key dry bulk market index the BDI. From 1 March the Baltic Dry Index (BDI) will be re-weighted to reflect 40% capesize, 30% panamax, and 30% supramax time charter averages, dropping the handysize time
charter average. The Baltic said external research showed that the contribution of the various vessel types to the dry bulk market was 40% capesize, 25% panamax, 25% supramax and 10% handysize, and that dropping the handysize component from the BDI made not
statistical difference to the BDI.
https://goo.gl/zKp2ss
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10. Looking into Free Ports
The UK’s Brexit Secretary of State has welcomed a proposal for a study into the benefits of free port status for the Tees region – which contains Teesport. During a visit to Teesport, David Davis, the UK Secretary of State for Exiting the European Union,
said that the UK government would consider Tees Valley Mayor Ben Houchen’s proposal to the UK Chancellor, which is supported by 50 business leaders, with the “most open mind possible”.
https://goo.gl/iPSr9o
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Daily news feed from Seacurus Ltd – providers of MLC crew insurance solutions 
www.seacurus.com

 

Best regards,

S Jones
Seacurus Ltd

 

Registered in England No. 5201529

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Email: sjones@seacurus.com
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NE8 3BA,
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Daily news feed from Seacurus Ltd – providers of MLC crew insurance solutions 
www.seacurus.com

 

Best regards,

S Jones
Seacurus Ltd

 

Registered in England No. 5201529

Authorised and regulated by the Financial Conduct Authority
A Barbican Group company
 

Telephone: +44 191 4690859
Facsimile:  +44 191 4067577

Email: sjones@seacurus.com
Website: www.seacurus.com

 

Registered Office: Suite 3, Level 3,
Baltic Place West, Baltic Place,
South Shore Road,
Gateshead,
NE8 3BA,
United Kingdom

 

This message, and any associated files, are intended only for the use of the individual or entity to which it was addresses and may contain information that is confidential, subject to copyright or constitutes a trade secret. If you are not the intended
recipient you are hereby notified that any dissemination, copying or distribution of this message, or files associated with this message, is strictly prohibited. If you have received this message in error, please notify us immediately.


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