Seacurus Daily: Top Ten Maritime News Stories 15/03/2018

Seacurus Daily: Top Ten Maritime News Stories 15/03/2018

1. Huge Cost of Fire
Shipping giant Maersk Line confirmed that the berthing and discharging operations of the fire-stricken Maersk Honam would result in high extraordinary costs. The company has therefore
decided to declare General Average, according to a notice released by Maersk’s 2M alliance partner Mediterranean Shipping Company (MSC), under which all parties with a financial interest in the voyage are to proportionally share the losses resulting from the
Maersk Line has not yet confirmed when and where the vessel will be berthed and discharged.
2. Losing Legitimacy on Cyber
The International Maritime Organization could lose its legitimacy if it fails to show leadership on cyber matters has prompted a response from the UN body. K D Adamson, the CEO of consultancy Futurenautics, opened a digital
debate by saying that IMO’s failure so far to handle cyber issues could relegate it to irrelevance. “IMO will lose their legitimacy in the medium term,” she predicted. It was noted 
IMO has discussed cyber security in both
the Facilitation and Maritime Safety Committees and issued guidance, while adoptingResolution MSC.428(98) – Maritime Cyber Risk Management in Safety Management Systems.
3. Russian Gas War
The spy poisoning scandal in the U.K. is spilling into energy. Prime Minister Theresa May responded to a chemical weapon attack against a former spy with a range of measures against Russia
such as asset freezes and diplomatic expulsions. The U.K. will also look at getting natural gas from sources outside Russia. 
While Europe as a whole gets more than a third of its gas from Russia, that share is lower in
the U.K., which receives the bulk of its fuel from North Sea fields and Norway. Still, Moscow-based Gazprom PJSC was the second-biggest supplier to major industrial consumers in the U.K. last year.
4. Volcano Warning for Ships
Officials in the Caribbean island of Grenada are warning ships to steer clear of an underwater volcano due to increased seismic activity that could indicate the start of an eruption at any moment. On Tuesday, the Government
of Grenada announced that the alert level for the submarine volcano Kick “em Jenny, located 8 km (5 mi) north of the island of Grenada, has been raised to ORANGE, meaning an eruption could take place within 24 hours. 
the increase in the alert level, ships and other marine operators are asked to observe the exclusion zone of 5 km (3.1 miles) around the summit of the volcano.
5. Seaspan Major Acquisitions
Canada’s Seaspan has acquired the remaining 89% equity interest of Greater China Intermodal Investments (GCI) from affiliates of The Carlyle Group and the minority owners of GCI. The total consideration of the deal will be
cash of approximately $330m and a $50m issuance of Seaspan Series D preferred shares.
GCI currently owns a fleet of 18 containerships with total capacity of 204,000 teu. Of the 18 vessels, there are currently 16 vessels in operatios with the remaining two newbuild vessels scheduled for delivery during the
second quarter of 2018.

6. Bliss Departs Down Ems
Norwegian Bliss departed Meyer Werft in Papenburg, Germany, on Tuesday, beginning her conveyance along the Ems River stern-first. Measuring 994 feet long, 136 feet wide, and at a gross registered tonnage of 168,028, she cleared
the narrow passage through Meyer Werft’s sea lock with less than four feet clearance. The maneuver took about two hours at a speed of 0.2 knots. The precise navigation included a team of experienced Ems River pilots, navigation officers, the yard captain and
the local German waterway authorities.

7. Oh No Pluto
A court in San Diego has sentenced a former crewmember of the cruise ship Disney Wonder to 15 months for embezzling hundreds of thousands of dollars.  Brazilian national Renan Dias Da Rocha Gomes, 32, was an employee at a
shipboard merchandise store on the Wonder. From 2015 through 2017, Gomes made $275,000 in charges on a Disney bank account and put the money onto gift cards using the store’s VeriFone payment system, prosecutors said. He used $35,000 of this amount to pay
for a family vacation to Disney World, including $8,700 for lodging and $26,400 for food, beverages, merchandise and entertainment.
8. Tankers Set for Scrap
The expected reopening of the Pakistani market to imports of tanker ships for demolition is taking the demolition market by storm, as tankers are the most traded type of vessels, when it comes to the scrap market, due to the freight market’s demise. In
its latest weekly report, shipbroker Allied Shipbroking said that “the strong flow of activity has continued yet again this past week, with the firm scrap price levels helping entice owners and drive for fairly quick deals. The main bulk of these, has been
tanker vessels which due to Pakistan remaining out of competition, still leaves for a poor price premiums against dry vessels.
9. Call for New Reporting
The European Commission proposal for a revision of the Reporting Formalities Directive (RFD) is expected in early May 2018, intended to remedy the current costly, unharmonised and burdensome reporting requirements facing ships calling at EU ports. Current
complex, repetitive and duplicative reporting requirements not only result in productivity losses for maritime carriers and their customers but also create unnecessary workload and stress for ship crews. A genuine “European Single Window” is required that
will enable the same data to be submitted in the same way for the same operations and processes in all EU ports.
10. Cargill Exiting Shipowning
Commodities giant Cargill is looking to exit its brief flirtation with shipowning. Great Wave Navigation, a joint venture between Cargill and Mitsui, has three capesizes on order due for delivery in 2020. However, Cargill’s
interest in ownership is purely from a trading asset play perspective and being a shipowner is not part of the commodities trader’s long term plans. 
Fiete Kallenberg, head of capes in Asia Pacific at Cargill Ocean Transportation,
speaking at the Maritime CEO Forum held in Singapore earlier this week, told delegates: “We are not looking to be a shipowner.”
Daily news feed from Seacurus Ltd – providers of MLC crew insurance solutions
S. Jones
Seacurus Ltd
Seacurus Ltd.,
Barbican Group,  
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London EC3V 0BT,
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