Seacurus Daily: Top Ten Maritime News Stories 08/02/2018
1. Global Fleet Values
With no African nation making the ranking of ship owning nations, the latest report by Vessel Value has estimated the top 10 global fleets at $516 billion. Topping
the list is Greece, with an owned fleet worth about $100 billion, followed closely by Japan and China, worth $89 billion and $84 billion. According to the reports Greek owners remain the dominant force in global shipping.
The current value of their owned fleet stands at almost exactly $100bn, putting the country at the top of the table. The value is concentrated in the Tanker ($36 billion), Bulker ($35.75 billion), and LNG ($13.5) vessel types.
the list is Greece, with an owned fleet worth about $100 billion, followed closely by Japan and China, worth $89 billion and $84 billion. According to the reports Greek owners remain the dominant force in global shipping.
The current value of their owned fleet stands at almost exactly $100bn, putting the country at the top of the table. The value is concentrated in the Tanker ($36 billion), Bulker ($35.75 billion), and LNG ($13.5) vessel types.
https://goo.gl/5f8h2B
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2. Massive Savings for Owners
The digitalisation of shipping is the hot topic of the moment and DNV GL believes that major shipowners could reduce operating costs (opex) by 30%, or more, through the implementation of digital systems
and processes. Speaking a DNV GL Digital Maritime Summit in Singapore, ceo Remi Eriksen said: But in industry 4.0 what does the future hold for shipping? Digitalisation of information in itself will allow for automation
of processes and functions onboard the vessels and this again will positively impact safety, environmental and conventional performance.
and processes. Speaking a DNV GL Digital Maritime Summit in Singapore, ceo Remi Eriksen said: But in industry 4.0 what does the future hold for shipping? Digitalisation of information in itself will allow for automation
of processes and functions onboard the vessels and this again will positively impact safety, environmental and conventional performance.
https://goo.gl/LpN9us
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3. Record Breaker Planned
Allseas, the Swiss offshore firm, is planning to order a ship even larger than the record-breaking "Pioneering Spirit", which with dimensions of 382 m by 124 m is currently the worlds largest construction
vessel and in terms of gross tonnage clocking in at 403,342 gt can claim to be the largest ship afloat in the world today. The new vessel, to be called "Amazing Grace" and likely costing in the region of $3bn, is
designed to remove the heaviest platforms in a single lift and could reduce decommissioning costs for global oil and gas producers, Allseas claim.
vessel and in terms of gross tonnage clocking in at 403,342 gt can claim to be the largest ship afloat in the world today. The new vessel, to be called "Amazing Grace" and likely costing in the region of $3bn, is
designed to remove the heaviest platforms in a single lift and could reduce decommissioning costs for global oil and gas producers, Allseas claim.
https://goo.gl/aWD4ei
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4. Final El Faro Report
The US National Transportation Safety Board (NTSB) on Wednesday released its full final report on the October 1, 2015 sinking of cargo vessel El Faro with the loss of its entire 33-person crew. This
release follows a December meeting of the NTSB to determine the cause of the accident wherein the ship was caught in Hurricane Joaquin and went down off the Bahamas. That meeting was accompanied by a release of key findings. The release
gives more detail on the investigation, all 81 findings and 53 safety recommendations based on the case, and reiterates the failings of ship captain Michael Davidson and vessel owners Tote.
release follows a December meeting of the NTSB to determine the cause of the accident wherein the ship was caught in Hurricane Joaquin and went down off the Bahamas. That meeting was accompanied by a release of key findings. The release
gives more detail on the investigation, all 81 findings and 53 safety recommendations based on the case, and reiterates the failings of ship captain Michael Davidson and vessel owners Tote.
https://goo.gl/8XVv2e
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5. Brokers Embrace Blockchain
Agility has become the first freight forwarder to collaborate on Maersk and IBMs blockchain program to manage and track container shipments. Agility has agreed
to identify events associated with individual shipments and to share and receive information about them via the distributed ledger blockchain technology developed by IBM and Maersk. Blockchain technology is going to
make shipping cheaper, safer and more reliable, said Essa Al-Saleh, CEO of Agility Global Integrated Logistics.
to identify events associated with individual shipments and to share and receive information about them via the distributed ledger blockchain technology developed by IBM and Maersk. Blockchain technology is going to
make shipping cheaper, safer and more reliable, said Essa Al-Saleh, CEO of Agility Global Integrated Logistics.
https://goo.gl/K9SrrE
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6. New Vision for Liquid Bulk
Describing it as an ideal alternative to breakbulk for the transportation of liquids and optimally preserving the products properties, Frances CMA CGM has launched Reeflex, which is essentially a bag
in a box. Developed in partnership with Teconja, a German expert in juices, and Liqua, an expert in packaging solutions for the transportation of liquids, Reeflex allows for the transportation of liquids (juices, milk,
compotes, syrup and all kind of oils) in a single bag with a capacity ranging from 12,000 to 24,000 litres. Available on reefer 40 ft containers, Reeflex can be installed in just three minutes.
in a box. Developed in partnership with Teconja, a German expert in juices, and Liqua, an expert in packaging solutions for the transportation of liquids, Reeflex allows for the transportation of liquids (juices, milk,
compotes, syrup and all kind of oils) in a single bag with a capacity ranging from 12,000 to 24,000 litres. Available on reefer 40 ft containers, Reeflex can be installed in just three minutes.
https://goo.gl/a8ayhA
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7. South China Sea Code
The Association of South East Asian Nations is hoping to expedite negotiations on a code of conduct with China for the South China Sea but it is not realistic to expect an agreement within a year, Singapore’s
defence minister said. China and the 10-member ASEAN bloc adopted a negotiating framework on the code for the disputed and busy waterway, largely controlled by China but also claimed by some ASEAN states, in August
and have begun talks. "We hope it will be expedited but it’s a very, very complex issue," Singapore Defence Minister Ng Eng Hen told reporters after a gathering of ASEAN defence chiefs.
defence minister said. China and the 10-member ASEAN bloc adopted a negotiating framework on the code for the disputed and busy waterway, largely controlled by China but also claimed by some ASEAN states, in August
and have begun talks. "We hope it will be expedited but it’s a very, very complex issue," Singapore Defence Minister Ng Eng Hen told reporters after a gathering of ASEAN defence chiefs.
https://goo.gl/LavKgr
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8. Strike Halts Grain
A strike by Argentine truck owners aimed at forcing an increase in hauling rates has halted grains unloading at some of the countrys terminals, Guillermo Wade, manager of the Chamber of Port and Maritime
Activities, said on Wednesday. Argentina is the worlds top exporter of soymeal livestock feed and its No. 3 supplier of corn and raw soybeans. Wade said the trucking strike stopped some loading of cargo ships ready
to transport grains from the countrys main Parana River transport hub of Rosario. As of today there are many ports that are left without merchandise, Wade said.
Activities, said on Wednesday. Argentina is the worlds top exporter of soymeal livestock feed and its No. 3 supplier of corn and raw soybeans. Wade said the trucking strike stopped some loading of cargo ships ready
to transport grains from the countrys main Parana River transport hub of Rosario. As of today there are many ports that are left without merchandise, Wade said.
https://goo.gl/fx39Hm
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9. India Going for Gas
India’s government has announced that it plans to build 11 LNG import terminals over the next seven years as part of the nation’s plans to have natural gas contribute 15 percent of its energy mix by
2020. India already has four LNG import terminals (Petronets Dahej and Kochi LNG terminals, Shells Hazira plant and the Dabhol terminal operated by Ratnagiri Gas and Power) and imports around 20 million tons of LNG
a year, about 6.5 percent of its energy needs. The plans would increase Indias LNG import capacity to more than 70 million tons per year.
2020. India already has four LNG import terminals (Petronets Dahej and Kochi LNG terminals, Shells Hazira plant and the Dabhol terminal operated by Ratnagiri Gas and Power) and imports around 20 million tons of LNG
a year, about 6.5 percent of its energy needs. The plans would increase Indias LNG import capacity to more than 70 million tons per year.
https://goo.gl/9vpriV
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10. Ardmore Results Struggle
Ardmore Shipping Corporation announced results for the three and twelve months ended December 31, 2017. Reported a net loss of $12.5 million for the twelve months
ended December 31, 2017, or $0.37 basic and diluted loss per share, as compared to a net profit of $3.7 million, or $0.12 basic and diluted earnings per share, for the twelve months ended December 31, 2016. The Company reported EBITDA (see Non-GAAP Measures
section below) of $45.7 million for the twelve months ended December 31, 2017, as compared to $54.2 million for the twelve months ended December 31, 2016.
ended December 31, 2017, or $0.37 basic and diluted loss per share, as compared to a net profit of $3.7 million, or $0.12 basic and diluted earnings per share, for the twelve months ended December 31, 2016. The Company reported EBITDA (see Non-GAAP Measures
section below) of $45.7 million for the twelve months ended December 31, 2017, as compared to $54.2 million for the twelve months ended December 31, 2016.
https://goo.gl/oqbUBk
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Daily news feed from Seacurus Ltd providers of MLC crew insurance solutions
www.seacurus.com
S. Jones
Seacurus Ltd
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Seacurus Ltd.,
Barbican Group,
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+44 20 7082 1955
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+44 7834 289147
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sjones@seacurus.com
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jones.steven
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