Seacurus Daily: Top Ten Maritime News Stories 12/02/2018
1. Maersk Profits Hit
A.P. Moller-Maersks decision to focus on transport and jettison oil was put under pressure as the worlds largest container shipping firm missed profit forecasts. Although Maersks chief executive Soren Skou said he remained
positive about the outlook for global trade, the companys shares was down 2.9 percent to 10,060 Danish crowns by 0925 GMT after the fourth-quarter profit miss. Guidance for 2018 was vague, Fearnley analyst Espen Fjermestad
said of Maersks forecast for earnings before interest, tax, depreciation and amortisation (EBITDA). Shares in Maersk are down by more than 30% from a July 2017 peak.
positive about the outlook for global trade, the companys shares was down 2.9 percent to 10,060 Danish crowns by 0925 GMT after the fourth-quarter profit miss. Guidance for 2018 was vague, Fearnley analyst Espen Fjermestad
said of Maersks forecast for earnings before interest, tax, depreciation and amortisation (EBITDA). Shares in Maersk are down by more than 30% from a July 2017 peak.
https://goo.gl/E8G27H
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2. Chinese Ship Detentions
With greater numbers of ships calling in Chinese ports, it is perhaps not surprising more are being inspected and being detained. But in step with the increase in traffic, the Beijing government "has become very strict" on
matters of safety, security, and the environment, "putting big pressure on owners" the Greek Shipping Forum has heard. "The rate of detentions is very high in China compared with the Paris and Tokyo Port State Control
regimes," Terence Zhao, president of Singhai Mariner Services said. The number of inspections being carried out is also much higher, with one ship in 10 inspected.
matters of safety, security, and the environment, "putting big pressure on owners" the Greek Shipping Forum has heard. "The rate of detentions is very high in China compared with the Paris and Tokyo Port State Control
regimes," Terence Zhao, president of Singhai Mariner Services said. The number of inspections being carried out is also much higher, with one ship in 10 inspected.
https://goo.gl/skESrg
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3. Tanker Owners Eye Consolidation
As tanker freight rates are still reeling under the pressure of oversupply of tonnage, more and more tanker owners are entering consolidation mode, in a bid to improve economies of scale and avoid financial problems. In its
latest weekly report, shipbroker Gibson said that just before Christmas last year, the tanker market was greeted with the announcement of the proposed merger between two NYSE quoted tanker companies, Euronav and Gener8. At the time of writing this merger
has still to be approved but, if the green light is given, the joint company will own 40 VLCCs and 28 Suezmaxes (incl. 4 newbuildings).
latest weekly report, shipbroker Gibson said that just before Christmas last year, the tanker market was greeted with the announcement of the proposed merger between two NYSE quoted tanker companies, Euronav and Gener8. At the time of writing this merger
has still to be approved but, if the green light is given, the joint company will own 40 VLCCs and 28 Suezmaxes (incl. 4 newbuildings).
https://goo.gl/CrfrNj
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4. Driver Shortage Hitting Trade
Online freight forwarder iContainers says that the truck driver shortage problem plaguing the US at the moment is set to intensify. The problem, worsened by a very active hurricane season which affected trucking in the Gulf region and high demand from
the festive season, has caused rates for hiring long-distance trucks to soar. An unexpected rough winter for the countrys south further compounded the problem and to make matters worse, capacity shrunk even further when the ELD mandate an electronic logging
device rule kicked in in December 2017.
the festive season, has caused rates for hiring long-distance trucks to soar. An unexpected rough winter for the countrys south further compounded the problem and to make matters worse, capacity shrunk even further when the ELD mandate an electronic logging
device rule kicked in in December 2017.
https://goo.gl/C6Waej
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5. Biggest Breakbulk Players
As of early January 2018, the 10 largest breakbulk operators by deadweight of multipurpose/project/heavy-lift tonnage combined deployed a fleet of 460 ships, says industry analyst Dynamar. The fleet has a total deadweight of 8,136,000 million tons and
an aggregate lifting capability of 147,000 tons. The ships average age is eight years. Although some operators have reduced tonnage, overall capacity has remained the same as the previous year in terms of ships (460 units both
years) while capacity is just two percent higher.
an aggregate lifting capability of 147,000 tons. The ships average age is eight years. Although some operators have reduced tonnage, overall capacity has remained the same as the previous year in terms of ships (460 units both
years) while capacity is just two percent higher.
https://goo.gl/kTwXL7
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6. Antarctica Ship Damage
The 10,500 dwt cargo ship "Ivan Papanin" has damaged its hull in an ice field in Antarctica, according to Russian Antarctic Expedition. The vessel, which was departing the Indian station Bharati in difficult weather conditions,
ran into trouble on February 6. While exiting the station astern, the ship reportedly touched underwater obstacles. The extent of the damage is currently not known. At the time of the incident, the 1990-built ship had
some 100 passengers aboard. The people were immediately evacuated onto the Bharati station.
ran into trouble on February 6. While exiting the station astern, the ship reportedly touched underwater obstacles. The extent of the damage is currently not known. At the time of the incident, the 1990-built ship had
some 100 passengers aboard. The people were immediately evacuated onto the Bharati station.
https://goo.gl/B5bvRW
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7. Campaign Against Drilling
Protesters rallied outside a meeting of the Bureau of Ocean Energy management (BOE) in Sacramento, California, according. Environmentalists were mobilised against the Department of the Interiors (BOEM) planned expansion
of offshore drilling to all coastal areas of the US, but specifically focused on the plans for California. BOEM is an agency under DOI and responsible for managing exploration and development of the nations offshore energy
and mineral resources. It was holding a public meeting at the state Capitol building where officials spoke with members of the public about the plan and received public comments.
of offshore drilling to all coastal areas of the US, but specifically focused on the plans for California. BOEM is an agency under DOI and responsible for managing exploration and development of the nations offshore energy
and mineral resources. It was holding a public meeting at the state Capitol building where officials spoke with members of the public about the plan and received public comments.
https://goo.gl/HEZbKc
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8. Shell Platform Reef
In the early 1980s, Shells Cougar platform helped define the outer limits of the Gulf of Mexico. Now, after producing more than 31 million barrels of oil equivalent over a span of nearly two decades, Cougar has been turned into an artificial reef. Shell
donated the steel frame supporting Cougars deck and topside called the jacket to the State of Louisianas Artificial Reef program and made a $619,000 contribution to the Louisiana Wildlife and Fisheries Department (LWFD) to help maintain and monitor the
reef. The jacket is now providing habitat for a variety of marine life, including red snapper and amberjack.
donated the steel frame supporting Cougars deck and topside called the jacket to the State of Louisianas Artificial Reef program and made a $619,000 contribution to the Louisiana Wildlife and Fisheries Department (LWFD) to help maintain and monitor the
reef. The jacket is now providing habitat for a variety of marine life, including red snapper and amberjack.
https://goo.gl/ipyazZ
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9. LA Breaks Records
The Port of Los Angeles last year broke its own record for the most cargo moved annually by a Western Hemisphere port. The Port of Los Angeles reported that supply chain efficiencies helped it to a new all-time cargo volume
record in 2017, racking up 9,343,192 Twenty-Foot Equivalent Units (TEUs) handled throughout the year. The new record represents a 5.5 percent increase over 2016s record-breaking year. 2017 was a year beyond expectations
but it was not by chance, said Port of Los Angeles Executive Director Gene Seroka.
record in 2017, racking up 9,343,192 Twenty-Foot Equivalent Units (TEUs) handled throughout the year. The new record represents a 5.5 percent increase over 2016s record-breaking year. 2017 was a year beyond expectations
but it was not by chance, said Port of Los Angeles Executive Director Gene Seroka.
https://goo.gl/S2unQH
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10. Contrails From the Sky
A satellite image captured on by a NASA satellite shows criss-crossing cloud bands caused by ships in the eastern Atlantic Ocean off Spain and Portugal. Although the white trails look vaguely like contrails left behind by
airplanes, they actually result from ship exhaust. The narrow clouds, known as ship tracks, form when water vapor condenses around microscopic pollution particles that ships emit as exhaust. Due to smaller and more abundant
particles than those of the surrounding clouds, the ship trails typically are brighter and thicker in appearance and with easily defined boundaries.
airplanes, they actually result from ship exhaust. The narrow clouds, known as ship tracks, form when water vapor condenses around microscopic pollution particles that ships emit as exhaust. Due to smaller and more abundant
particles than those of the surrounding clouds, the ship trails typically are brighter and thicker in appearance and with easily defined boundaries.
https://goo.gl/87WKDX
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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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