Seacurus Daily: Top Ten Maritime News Stories 07/03/2018




Seacurus Daily: Top Ten Maritime News Stories 07/03/2018

1. Fire Ravages Maersk Ship
A serious fire broke out on the 15,262 teu "Maersk Honam" in the Arabian Sea yesterday afternoon. The fire erupted in one of the cargo holds and appears to have spread across the giant boxship. 23 crew have been evacuated to the nearby vessel "ALS Ceres"
and search and rescue operations are ongoing for four missing crewmembers with the Indian Coast Guard assisting. Two of the evacuated crew are understood to have sustained injuries. The ship – less than 12 months old – was en
route from Singapore towards Suez when the fire started some 900 nautical miles southeast of the Omani port of Salalah.
https://goo.gl/QkhRFk
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2. Frontline Shares Jump
Shares in crude oil tanker firm Frontline jump 10.5 pct to $1.69. DNB Markets: Has upgraded most tanker companies it covers to BUY from HOLD for the first time since April 2016. Shipping
analyst Nicolay Dyvik says tanker shares are down on average 50 percent since time of downgrade by DNB in 2016, "and we think it’s time to buy again". 
DNB Markets predicts VLCC spot rates set to increase from $22,000 a
day in 2018 to $41,000 a day by 2020. This compares to VLCC spot rates below $10,000 in recent weeks
https://goo.gl/SJKqRP
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3. Queen Helps IMO Celebrate
Seventy years to the day since the treaty establishing the United Nations International Maritime Organization (IMO) was adopted, Her Majesty Queen Elizabeth II marked the occasion at IMO Headquarters in London on Tuesday (6 March). Accompanied
by IMO Secretary-General Kitack Lim, Her Majesty Queen Elizabeth II unveiled a commemorative plaque and cut an anniversary cake. Her Majesty also met some of the guests attending the event, including representatives of IMO Member States, inter-governmental
and international non-governmental organizations, and IMO Secretariat staff.  
https://goo.gl/SNqKyR

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4. IRISL Gets Box Giant
Hafiz Darya Arya Shipping (HDASCO), a subsidiary of Iranian containerline IRISL, will soon take delivery of the first of four 14,500 teu ships from Hyundai Heavy Industries (HHI) in South Korea. The 366 m long "Rayen" is more than twice as large as IRISL’s
current largest boxship series – a set of five 6,500 teu ships. The Rayen will join IRISL’s HDM service connecting East Asia with the Middle East. The other three newbuilds are set to deliver from HHI by August this year. “With
their 14,500 teu intake, they will soon become the largest container ships to call Iran,” Alphaliner noted in its most recent weekly report.
https://goo.gl/4NRXhy
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5. Britain is Cruise Hotspot
Figures released by CruiseBritain show that the number of cruise passengers visiting Britain continues to rise for the tenth consecutive year. In the last decade, passenger day calls have quadrupled to reach 1.415 million including an increase of 17 percent
over 2016. Cruise passengers arrived through 68 cruise ports in 2018 on 120 different ships. 56 different cruise lines visited the U.K. ports, and strong regional growth is being experience, including ports such as Douglas (Isle
of Man), Kirkwall (Orkney), Portland and Tyne.
https://goo.gl/ajAoc4
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6. New Intelligent Navigation
Rolls-Royce debuted a sophisticated new "situational awareness system" that uses sensors and intelligent software to help mariners manage safety risks. Rolls-Royce says that its Intelligent Awareness (IA) system is the first
of its kind on the market. “The IA system forms part of our ongoing development of the autonomous ship, but we decided to make the technology available today as it offers real benefits to the existing shipping environment," said Iiro Lindborg, Rolls-Royce’s
general manager for remote and autonomous operations. "IA is undoubtedly one of the most significant advances…[in] navigation safety.”
https://goo.gl/wiHTCs
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7. Time to Speak Up
During World War II, the best way to protect the navy was to remain tight-lipped or risk divulging sensitive data on ship movement to eavesdropping spies. “Loose lips sink ships,” the public was warned. Today, while citizens continue to play a vital role
in ensuring public safety, there is a completely different ask. Instead of holding our tongue, we are encouraged to speak up and report anything that doesn’t look right. “If you see something, say something,” is the modern-day mantra, enlisting everyday citizens
to act as the government’s eyes and ears and report crucial information that could save lives. 
https://goo.gl/19iojA
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8. Shipping Banking Outdated
There’s been some pretty big wake-up calls for traditional ship finance players in recent months with a raft of tech firms coming in trying to usurp their places. The matter of new tech companies emerging for the moment is
this: I do feel the way banking is done today is outdated and is at risk of being picked apart by nimble, new entrants. The key theme in ship finance in 2018 will see Smaller banks in Europe are eyeing the gap left by departing
big names while Asian giants are rapidly becoming the leaders in the field.
https://goo.gl/pfMneK
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9. Fuel Requirements Changed
Ship fuel oil reporting requirements and amendments to the regulation for the prevention of pollution by garbage from ships have entered into force.  Entered into force on March 1, ship fuel oil consumption data reporting
requirements are aimed at enhancing the energy efficiency of international shipping. The data collection will begin on January 1, 2019, with data reported to IMO at the end of each calendar year. The
 data collection system
is intended to equip IMO with concrete data on fuel oil consumption, which should assist member states in making decisions about any further measures needed from international shipping.
https://goo.gl/NtGDWZ
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10. Samsung Heavy Share Plans
South Korea’s Samsung Heavy Industries Co Ltd said on Tuesday the expected value of its planned new share issuance has been cut to 1.41 trillion won ($1.31 billion) from a previously-announced 1.56 trillion won. The shipbuilder
said in a regulatory filing that the value of the issuance had been changed with newly issued shares to be assigned at 5,870 won per share, instead of the originally planned 6,510 won per share. 
Samsung Heavy shares have
fallen about 35 percent since the plan to issue new shares were announced in early December.
https://goo.gl/MigVRn
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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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