Seacurus Daily: Top Ten Maritime News Stories 16/03/2018
1. Huge Profits for Ports
Dubai-based port developer DP World reported 15.1 growth in earnings in 2017, with profit attributable to owners of the company reaching USD 1.2 billion. Adjusted EBITDA grew 9.1 pct year-on-year
and achieved an EBITDA margin for the full year of 52.4 pct, DP World said. The port operators revenue marked 13.2 pct increase year-on-year standing at USD 4.71 billion, driven by strong volume growth across the board.
and achieved an EBITDA margin for the full year of 52.4 pct, DP World said. The port operators revenue marked 13.2 pct increase year-on-year standing at USD 4.71 billion, driven by strong volume growth across the board.
https://goo.gl/U82Ar7
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2. Leap in Nigerian Attacks
Despite confidence that piracy was on the wane, Nigeria has recorded 41 piracy attacks on vessels calling at her ports in the whole of 2017, the Nigerian Maritime Administration and Safety Agency (NIMASA) stated in its Nigerias Maritime Industry Forecast
2018-2019. The agency said the nation suffered 135 piracy attacks between 2015 and 2017. However, it had been hoped that 2017 would mark the end of attacks – and this is seemingly not the case. Owners are warned to be vigilant when operating in the region.
2018-2019. The agency said the nation suffered 135 piracy attacks between 2015 and 2017. However, it had been hoped that 2017 would mark the end of attacks – and this is seemingly not the case. Owners are warned to be vigilant when operating in the region.
https://goo.gl/51xfy5
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3. Marine Insurance Boost
Positive prospects for the global economy in 2018 are going to boost the marine insurance business, according to International Union of Marine Insurance (IUMI) president Dieter Berg. We expect a globally synchronised boom
in consumption, investment and international trade for industrialised countries and emerging markets, Berg said in the March 2018 IUMI quarterly issue. This is good news for marine insurance, as premium income correlates
with growth in trade volume and value, he explained. In addition, marine insurers are set to benefit from recovering rates.
in consumption, investment and international trade for industrialised countries and emerging markets, Berg said in the March 2018 IUMI quarterly issue. This is good news for marine insurance, as premium income correlates
with growth in trade volume and value, he explained. In addition, marine insurers are set to benefit from recovering rates.
https://goo.gl/aY1orZ
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4. Dutch Accept Armed Guards
Dutch MPs have approved a bill that will permit armed security guards aboard merchant vessels sailing under the Dutch flag. The shipping sector had been demanding the anti-piracy measure for more than 10 years, the Financieele Dagblad said on Wednesday.
If approved by the upper house at a later date, Dutch merchant ships will join those from other seafaring nations in carrying private armed security guards in waters where pirates abound, such as off the coast of the East African state of Somalia. Merchant
marine vessels will also continue to be able to obtain assistance from Dutch naval ships stationed in the area.
If approved by the upper house at a later date, Dutch merchant ships will join those from other seafaring nations in carrying private armed security guards in waters where pirates abound, such as off the coast of the East African state of Somalia. Merchant
marine vessels will also continue to be able to obtain assistance from Dutch naval ships stationed in the area.
https://goo.gl/7Ec9v7
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5. Greeks Fear Trade War
The President of the Union of Greek Shipowners (UGS), Theodore Veniamis, expressed his concern about the trade tariffs recently imposed by US President Donald Trump. Speaking at a conference at the Eugenides Foundation in Athens
on The Global Impact of Shipping, Veniamis said shipowners are clearly opposed to protectionist policies that undermine free trade and have a negative impact on the maritime industry worldwide. Veniamis revealed that he
will head a delegation of Greek shipowners which will travel to Washington for talks on this and other crucial issues in coming days.
on The Global Impact of Shipping, Veniamis said shipowners are clearly opposed to protectionist policies that undermine free trade and have a negative impact on the maritime industry worldwide. Veniamis revealed that he
will head a delegation of Greek shipowners which will travel to Washington for talks on this and other crucial issues in coming days.
https://goo.gl/FwG29M
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6. P&I Small Fall
Shipowners with loss-free accounts have received low-single-digit rate decreases on protection and indemnity (P&I) cover at general renewals for the 2018/19 policy year. Underwriting sources told The Insurance Insider that
while some loss-hit accounts saw "high profile" rate increases, the majority of shipowners obtained single-digit discounts on mutual calls for the forthcoming policy period. A slight recovery in the dry bulk sector bolstered
shipowners’ confidence, helping to eke out decreases of between 2 percent and 5 percent across the 13 International Group Clubs.
while some loss-hit accounts saw "high profile" rate increases, the majority of shipowners obtained single-digit discounts on mutual calls for the forthcoming policy period. A slight recovery in the dry bulk sector bolstered
shipowners’ confidence, helping to eke out decreases of between 2 percent and 5 percent across the 13 International Group Clubs.
https://goo.gl/pCZHXs
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7. Should Have Sought Shelter
A cargo ship that was blown sideways by gale force winds before hitting a barge should have sought shelter, an investigation has found. The 29,000-tonne "Saga Sky" hit the "Stema Barge II" about two miles off Dover in November
2016. The Marine Accident Investigation Branch (MAIB) said weather forecast receiving equipment was defective. Saga Sky’s master had underestimated the risk of the weather overpowering
the vessel, investigators found. A power cable linking Folkestone and Calais was severed as both vessels dragged their anchors along the seabed in the strong winds.
2016. The Marine Accident Investigation Branch (MAIB) said weather forecast receiving equipment was defective. Saga Sky’s master had underestimated the risk of the weather overpowering
the vessel, investigators found. A power cable linking Folkestone and Calais was severed as both vessels dragged their anchors along the seabed in the strong winds.
https://goo.gl/RFBfwo
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8. Big News for Bibby
Bibby Offshore has secured three major contracts from an unnamed oil and gas supermajor. The initial contract will see Bibby Offshore complete riser replacement works including a production/test riser and riser buoy connector
pipe changeout at one of the majors oil fields, situated in the Central North Sea. The company will deploy dive support vessel Bibby Polaris for the engineering work, which has commenced in the fourth quarter of 2017. Additionally, Bibby offshore will mobilise
a construction support vessel in the second quarter this year. While DSV Bibby Polaris will support operations at a Southern North Sea gas field.
pipe changeout at one of the majors oil fields, situated in the Central North Sea. The company will deploy dive support vessel Bibby Polaris for the engineering work, which has commenced in the fourth quarter of 2017. Additionally, Bibby offshore will mobilise
a construction support vessel in the second quarter this year. While DSV Bibby Polaris will support operations at a Southern North Sea gas field.
including the installation of the manifold and spools required to connect a new pipeline to the platform.
https://goo.gl/VuMjH7
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9. Sat Comms & Digitalisation
Having VSAT technology across a fleet of ships can hasten the adoption of digitalisation in shipping companies. Satellite connectivity from a C-band, Ku-band or Ka-band service enables owners to consider ships as mobile offices at sea. They can then adopt
electronic reporting, remote monitoring, some levels of diagnostics and share information across their fleets. Data can be synchronised between ship and shore databases and vessels are able to send electronic reports to port and
flag authorities. Some of this can be done using L-band, but there is more bandwidth available at fixed costs with VSAT.
electronic reporting, remote monitoring, some levels of diagnostics and share information across their fleets. Data can be synchronised between ship and shore databases and vessels are able to send electronic reports to port and
flag authorities. Some of this can be done using L-band, but there is more bandwidth available at fixed costs with VSAT.
https://goo.gl/UV1u9f
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10. New Welfare Directory
Seafarers charity Apostleship of the Sea (AoS) has launched its global port chaplains’ directory which helps seafarers and fishermen get access to pastoral and welfare support wherever they are in the world. The Port Chaplain
Directory 2018 lists phone numbers and e-mail addresses of 216 port chaplains covering 314 ports in 57 countries, compared to 261 ports across 55 countries in 2017.
Directory 2018 lists phone numbers and e-mail addresses of 216 port chaplains covering 314 ports in 57 countries, compared to 261 ports across 55 countries in 2017.
https://goo.gl/EcGp85
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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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