Seacurus Daily: Top Ten Maritime News Stories 19/03/2018




Seacurus Daily: Top Ten Maritime News Stories 19/03/2018

1. Maersk Suffers New Blaze
Less than two weeks after a major fire hit Maersk boxship "Maersk Honam", killing at least four crew members, a fire has hit 6,188 teu vessel "Maersk Kensington". The fire started in
a container in a cargo hold while the vessel was en route from Salalah, Oman heading towards Suez.  
The fire was contained thanks to the swift reaction of the crew, acting according to procedure by releasing CO2 into the
cargo hold. All 26 of them reported safe and accounted for.  
Maersk said that while the cause of the fire is unknown, initial investigations show there is no link between the cargoes on the Honam and Kensignton.
https://goo.gl/jqrfLL
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2. Scrap Cannot Keep Pace
The number of older VLCCs sent for scrap so far this year has been “somewhat astounding”, Clarkson Research states in its latest weekly report. Fellow broker Gibson states that 15 VLCCs
have been reported sold for demolition in 2018, with this year’s volume already exceeding the total for 2017. In addition, two former VLCCs (converted into FSOs and used for storage projects) were also sold for permanent removal. Tankers heading for scrapping
are getting younger, relative to those demolished last year, according to Gibson data. This year’s average age is 18.5 years versus 21.5 years for VLCCs demolished in 2017.
https://goo.gl/4vwDyq
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3. Flag State Performance
The International Chamber of Shipping (ICS) has published the latest version of its Flag State Performance Table. The analysis includes how administrations deliver against a number of
criteria such as port state control records, ratification of international maritime Conventions and attendance at IMO meetings. This year, a new criteria on participation in the ‘IMO Member State Audit Scheme’ has been included.   
The
ICS has also released a new interactive version of the Table, which contains a search facility and allows users to compare and contrast the performance of up to four flag states at a time.
https://goo.gl/9VjTSt
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4. UK Chamber New President
Sir Michael Bibby, until recently md of Bibby Line Group, has been elected president of the UK Chamber of Shipping, becoming the 132nd president in the body’s 140-year history. John Denholm, chairman of J&J Denholm and former
Bimco president, was elected vice-president. 
Bibby used his inaugural speech as president at the body’s agm to praise the Chamber’s ongoing work to raise the profile of shipping with Government and in the media, as well
as its recent success with the SMarT Plus maritime training campaign, a joint proposal with Nautilus that became Government policy in February.
https://goo.gl/JiFT5K
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5. Latest Blockchain Tests
A consortium comprising AB InBev, Accenture, APL, Kuehne + Nagel and a European customs organization has successfully tested a blockchain solution designed to eliminate the need for printed shipping documents and save the freight and logistics industry
hundreds of millions of dollars annually. An international shipment of goods for companies in areas such as the automotive, retail or consumer goods industries typically requires more than 20 different documents, many of which
are often paper-based, to enable the goods to move from exporter to importer. Up to 70 percent of the data can be replicated. 
 https://goo.gl/Tz6ESa
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6. Shipping’s Kodak Moments
Shipping has been warned it’s nearer to Kodak than Uber in its slow adoption of technology. Delegates attending this week’s digital session at the Maritime CEO Forum in Singapore were told shipping is anywhere from 30 to 500 years behind the technology
curve. Venkatraman Sheshashayee, CEO of OSV operator Miclyn Express Offshore, said shipping and offshore were 30 years behind many other industries. Many developments maritime companies are working on today other sectors have
had since the mid-1990s. The huge changes coming in the next five years would leave many lost, he predicted. 
https://goo.gl/AKgvqs
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7. Criminal Free Trade
The harmful effects of criminal networks operating in free trade zones highlights a pressing need for governments to improve coordination and address the lack of enforcement, says the Transnational Alliance to Combat Illicit Trade (TRACIT). The
call for action comes after the organization participated in the 6th Annual Meeting of the Organisation for Economic Co-operation and Development (OECD) Task Force on Countering Illicit Trade last week. At the meeting, the OECD presented its latest reportTrade
in Counterfeit Goods and Free Trade Zones: Evidence from recent trends. 
https://goo.gl/CqXMaH
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8. Saying Bye to Statoil
Statoil has announced plans to change the name of the company to Equinor. The name Equinor is formed by combining “equi”, the starting point for words like equal, equality and equilibrium, and “nor”, signalling a company
proud of its Norwegian origin, and who wants to use this actively in its positioning. 
Norman Valentine, senior vice president, corporate analysis, at Wood Mackenzie, says, “Statoil’s rebranding to become Equinor is a bold
reinforcement of the company’s shift towards new energy solutions and low carbon. Statoil’s strategy has become differentiated from the other majors under CEO Eldar Sætre. 
https://goo.gl/8WJ4YV
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9. US Crude Leap
U.S. crude oil exports in 2017 were nearly double those of 2016, and China accounted for 202,000 b/d (20 percent) of the 527,000 b/d total increase.  As a result, China surpassed the U.K. and the Netherlands to become the
second-largest importing destination. However, similar to previous years, Canada remained the top destination for U.S. crude oil exports. Canada’s share of total U.S. crude oil exports continued to decrease in 2017, down from 61 percent in 2016 to 29 percent. 
https://goo.gl/MLaqy3
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10. LR Swoops for Cyber
Lloyd’s Register (LR) announces that it has acquired cyber security services provider Nettitude, which it describes as a research-led organisation with “some of the most sophisticated technical capabilities in the industry”. Founded
in 2003, Nettitude currently employs 140 people and provides cyber security assurance, risk management and managed detection & response services on a 24/7 basis to organisations around the globe. 
“This is an important
acquisition for Lloyd’s Register to enhance our capability in assuring the increasingly complex supply chains in which we operate,” said LR ceo Alastair Marsh. 
https://goo.gl/Dfae7R
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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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