Seacurus Daily: Top Ten Maritime News Stories 08/03/2018
1. Crew Still Missing
Four crew remain missing in the Arabian Sea following Tuesdays fire on the 15,000 teu "Maersk Honam". While search and rescue operations continue, chances of finding the missing four men alive are now deemed unlikely. A Thai crewmember died from burns on
Wednesday, while the remaining 22 crew have been sent to Cochin in India. Some of the evacuated crew are suffering from toxic fumes from the fire. The fire on the ship continues to rage.
2. All About Integration
When Maersk announced a major refocusing of its business and combined the maritime and logistics businesses under one roof, the world of shipping took notice. After all, moving millions of containers around the world is Maersks core competency, so there
was a lot to like in the idea of better door-to-door integration, guaranteed transit times, and lower costs. On the other hand, there was the question of why such vision has taken so long.
3. EU Readies BREXIT Stance
The European Sea Ports Organisation (ESPO) has prepared a position paper calling on Brexit negotiators to prioritize maritime transport in the upcoming second phase of Brexit negotiations. Europes ports need certainty and time to adapt to the new realities
post-Brexit if they are to continue to perform their vital function as nodes in intra-European supply chains. If the current short-sea fluidity is compromised, there will be no winners. says ESPO.
4. US Tariff Backlash
The Northwest Seaport Alliance (NWSA), the National Retail Federation and the API have raised concerns about new tariffs on imported steel and aluminum introduced by the Trump administration on Thursday. The U.S. will levy a 25 percent duty on steel and
10 percent on aluminum, the same level U.S. President Donald Trump promised when he revealed the plan on March 1. The tariffs will take effect in 15 days.
5. Wholesale Cultural Change
The shipping industry must undergo a wholesale cultural shift to manage the disruption that is coming or the promise of all the emerging technology that has been capturing recent headlines will never be realised. That was the keynote message of Transass
provocative chief executive Frank Coles yesterday at the companys annual global conference held this year in Vancouver.
6. Propeller Revolution
Nippon Yusen Kabushiki Kaisha (NYK), MTI Co. Ltd., and Japan Marine United Corporation (JMU) have successfully developed a highly efficient propeller by analyzing the conditions surrounding vessel propellers in actual operation. This new propeller will be
installed on two newly built containerships that will be delivered in 2019, and will achieve a 1.2 percent reduction in carbon dioxide (CO2) emissions by improving fuel efficiency.
7. Armed Robbery Review
A total of 5 incidents of armed robbery against ships were reported in Asia in February 2018. No piracy incident was reported. Of the five incidents, three were actual incidents and two were attempted incidents. Of the two attempted incidents, one was an
attempted incident involving the abduction of crew from a container ship at approximately 4.4 nm southwest of Sibago Island, province of Basilan, Philippines.
8. Legacy of Box Fires
The huge fire that continues to rage on the ultra-large containership Maersk Honam brings into focus longstanding concerns in the industry over the severity of fires on boxships. While the cause of the fire onboard the 15,262 teu Maersk Honam remains
unknown Maersk Line say it started in the cargo hold, implying as very often the case the fire started somewhere in the vessels cargo.
9. Call for Reporting Review
Led by Denmark, 13 EU Member States have called on the Commission to present an ambitious proposal on revising the Reporting Formalities Directive. Danish Shipping strongly supports the ambition to sufficiently eliminate the huge administrative burdens
on maritime carriers in the EU.
10. Torm Remains Profitable
Danish shipping company TORM managed to remain profitable in the year ended December 31, 2017, despite a challenging product tanker market.
The companys profit before tax amounted to USD 3 million in 2017, compared to USD -142 million seen in the previous year, while its revenue dropped to USD 657 million from USD 680 million reported in 2016.
For the full year 2017, TORM achieved Time Charter Equivalent (TCE) rates of USD 14,621 per day, which were down from USD 16,050 per day reported a year earlier.
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