Seacurus Daily: Top Ten Maritime News Stories 20/02/2018
1. Port State Safety Report
The Paris MoU region and the Tokyo MoU performed a joint Concentrated Inspection Campaign (CIC) on Safety of Navigation, including ECDIS, last year, and the Paris MoU has said the results are encouraging. The
campaign was held from September 1 to November 30, 2017. The aim of the CIC was to verify that the minimum standards for navigation equipment, including familiarity with the equipment. It is encouraging to see that the
overall result of this campaign on safety of navigation is positive. However, continued monitoring of ECDIS compliance will be necessary, said Secretary General Richard Schiferli.
campaign was held from September 1 to November 30, 2017. The aim of the CIC was to verify that the minimum standards for navigation equipment, including familiarity with the equipment. It is encouraging to see that the
overall result of this campaign on safety of navigation is positive. However, continued monitoring of ECDIS compliance will be necessary, said Secretary General Richard Schiferli.
https://goo.gl/wPw5nH
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2. Taking US Oil to China
A milestone was passed on Monday as the very large crude carrier Shaden departed the Louisiana Offshore Oil Port (LOOP) fully laden with US oil for export to China, according to Bloomberg. Bahris 2017-built "Shaden" was
chartered by Chinas largest oil trader, Unipec. Its destination on this journey is Rizhao in southeastern Shandong province.
chartered by Chinas largest oil trader, Unipec. Its destination on this journey is Rizhao in southeastern Shandong province.
https://goo.gl/6ALjiX
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3. Booted Off the Exchange
The Oslo Stock Exchange has passed a resolution to delist Emas Offshore, part of Singapores Ezra Holdings, from the exchange effective April 27. The announcement comes just days after
Emas Offshore was granted an extension to an order by the High Court of Singapore protecting it from potential legal action in order to finalise its proposed restructuring.
Emas Offshore was granted an extension to an order by the High Court of Singapore protecting it from potential legal action in order to finalise its proposed restructuring.
https://goo.gl/7hzVUN
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4. Crew Wages Settled
Another crew neglect case has been resolved. It was reported at the start of the month of the plight of Ukrainian seafarers working onboard the car carrier "Sea Patris", one of five car carriers belonging to Greeces Mediterranean Car Carriers Line (MCCL). The
ship had been detained by Port State Control in Belgium for non-payment of wages and SOLAS issues, with the crew reportedly having not been paid since October last year. Over the weekend however the ship sailed, with the
owner paying $166,000 in late wage payments to the vessels 23 crew.
ship had been detained by Port State Control in Belgium for non-payment of wages and SOLAS issues, with the crew reportedly having not been paid since October last year. Over the weekend however the ship sailed, with the
owner paying $166,000 in late wage payments to the vessels 23 crew.
https://goo.gl/HkgngU
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5. MOL Flying High
MOL Group announced its financial results for 2017. MOL increased its EBITDA by 14% comfortably outperforming its 2017 target on the back of a strong financial and operational delivery of all business segments. Organic capex
stood at USD 1.04 bln, in line with lowered guidance and slightly higher than in the previous year. MOL continued to generate a massive amount of free cash flow establishing a strong financial framework to cover its ambitious transformational projects.
stood at USD 1.04 bln, in line with lowered guidance and slightly higher than in the previous year. MOL continued to generate a massive amount of free cash flow establishing a strong financial framework to cover its ambitious transformational projects.
https://goo.gl/xYvDzV
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6. Port Concerns on BREXIT
British Ports Association warned that without agreements on cross-border environmental health standards there could be major disruption at UK and EU ports. Richard Ballantyne, Chief Executive of the British Ports Association,
said: Perhaps one of the biggest Brexit challenges ports could face is accommodating new environmental health standards inspections at the border. As the report highlights, delays resulting from inspections at border would lead to increased costs, creating
congestion and particular issues for perishable goods. Any Brexit trade deal must include an agreement to overcome the need for such inspections.
said: Perhaps one of the biggest Brexit challenges ports could face is accommodating new environmental health standards inspections at the border. As the report highlights, delays resulting from inspections at border would lead to increased costs, creating
congestion and particular issues for perishable goods. Any Brexit trade deal must include an agreement to overcome the need for such inspections.
https://goo.gl/EZNcma
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7. Amazing Salvage Effort
Royal Boskalis Westminster has released video footage from the 2016 salvage of the container ship "TS Taipei" off New Taipei City, Taiwan. The "TS Taipei" drifted aground on March 10, 2016 after losing power. She settled
onto the bottom in the surf zone, and after two weeks of pounding from the waves she began to break up. The wreck eventually separated into two sections. When she went aground, the Taipei reportedly carried about 70,000
gallons of fuel, plus lube oil and oily wastewater. A combined task force worked to lighter the pollutants and over 100 workers were dispatched to clean the beaches at New Taipei.
onto the bottom in the surf zone, and after two weeks of pounding from the waves she began to break up. The wreck eventually separated into two sections. When she went aground, the Taipei reportedly carried about 70,000
gallons of fuel, plus lube oil and oily wastewater. A combined task force worked to lighter the pollutants and over 100 workers were dispatched to clean the beaches at New Taipei.
https://goo.gl/qUhanJ
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8. Hedge Funds Eye Shipping
Forced to abandon ship after mistiming their investments five years ago, hedge funds are venturing back in a bid to profit from growing global trade flows. The industry is on course for a recovery this year after a near-decade
long crisis, ratings agency S&P said in a report last week. The IMF has forecast GDP growth at 3.9 percent for 2018 and 2019 versus 3.7 percent last year, which analysts say is boosting sentiment for shipping.
long crisis, ratings agency S&P said in a report last week. The IMF has forecast GDP growth at 3.9 percent for 2018 and 2019 versus 3.7 percent last year, which analysts say is boosting sentiment for shipping.
https://goo.gl/nH5pQC
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9. Storm Threatens Atlantic
A developing hurricane force storm low over the west-central North Atlantic continues to move eastward at 35 knots producing winds of 55-75 knots with significant wave heights up to 12 meters (40 feet) within 180 NM south and 120 NM west of the center.
Over the next 24 hours max winds will be between 50-75 knots with significant wave heights to 15 meters (50 feet) within 240 NM in the western semi-circle. This is a dangerous storm as it is tracking eastward at a fairly low
latitude and is affecting shipping from North Europe and Mediterranean ports and US East Coast and Gulf ports.
Over the next 24 hours max winds will be between 50-75 knots with significant wave heights to 15 meters (50 feet) within 240 NM in the western semi-circle. This is a dangerous storm as it is tracking eastward at a fairly low
latitude and is affecting shipping from North Europe and Mediterranean ports and US East Coast and Gulf ports.
https://goo.gl/MgVPBP
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10. Fourth Industrial Revolution
The digitalisation of ports and terminal operations offers ways to realise a "fourth industrial revolution", bringing with it safety, operational, and environmental benefits, delegates heard at the Port Equipment Manufacturers Association (PEMA) annual
general meeting, which was held in the Spanish port city of Bilbao.
general meeting, which was held in the Spanish port city of Bilbao.
Digitalisation themes that were explored during presentations included artificial intelligence, data management, cyber-physical systems, and interoperability between layers of IoT platforms – all of which are emerging as
ways to improve container throughput at ports and terminals.
ways to improve container throughput at ports and terminals.
https://goo.gl/7FTYYW
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Daily news feed from Seacurus Ltd providers of MLC crew insurance solutions www.seacurus.com
S. Jones
Seacurus Ltd
Seacurus Ltd.,
Barbican Group,
33 Gracechurch Street,
London EC3V 0BT,
UK
www.seacurus.com
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