Seacurus Daily: Top Ten Maritime News Stories 23/03/2018




Seacurus Daily: Top Ten Maritime News Stories 23/03/2018

1. Trade War Damages All
A trade war resulting from President Donald Trump tariffs on imports of aluminium and steel would turn out bad for all countries involved and especially for international shipping, according to BIMCO, the largest of the international shipping associations
representing shipowners. While the proposed tariffs on aluminum and steel themselves are seen as having a limited impact on most international bulk trades, BIMCO warns the tariffs could trigger something bigger, like an all-out
trade war, that would negatively impact global shipping in a much wider way, including container shipping trades.
https://goo.gl/YyUrVL
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2. DNV to Ditch GL
Having finally assumed full control of the group in December top management at class society DNV GL is contemplating dropping the GL branding of the company. Norway’s Foundation Det Norske Veritas bought out its German partner’s
stake in merged class society DNV GL three months ago ending a protracted wrangle for control of the group. The Norwegian company had agreed with German investment vehicle Mayfair to merge with Germanischer Lloyd to form class giant DNV GL in 2012, with the
new brand DNV GL being unveiled in December the following year.
https://goo.gl/cWbnFg
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3. Huge Noble Lawsuit
Hong Kong commodity trader Noble Group has announced that PT Atlas Resources, an Indonesian coal trader, has filed a lawsuit in Indonesia against the company seeking compensation in excess of $260m. Noble
Group said so far it has not been served with any writ relating to such claim and the company is not aware of the grounds for the claim. 
The company intends to vigorously defend any claim if served. Richard
Elman, the founder of Noble Group, resigned from the board of the company this week soon after it emerged that he and other senior executives are being sued by major shareholder Goldilocks Investment.
https://goo.gl/PCXoyS
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4. Upturned Hull Towed In
On Thursday afternoon, the rescue tug Abeille Liberte towed the upturned hull of the freighter Britannica Hav into the port of Le Havre and brought the wreck alongside at the Quai d’Osaka, a disused container terminal. According
to AIS data, the Liberte departed Le Havre after delivering her tow. Local outlet Paris-Normandie reports that naval divers are now cutting off the Britannica’s masts so that they do not strike the bottom at low tide –  a delicate operation due to the unknown
stability of the upturned hull.
https://goo.gl/P8WHhA
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5. NY Sees Dry Fund
The launch in New York of the first and only freight futures exchange-traded fund focusing exclusively on dry bulk shipping has been announced. The Breakwave Dry Bulk Shipping ETF has been created by Breakwave Advisors and
ETF Managers Group (ETFMG). 
The fund, called BDRY for short, provides long exposure to the dry bulk shipping market through a portfolio of near-dated freight futures contracts on dry bulk indices. This offers investors exposure
to dry bulk freight without the need for a futures trading account. 
https://goo.gl/Bm9Cea
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6. Honam Heads to Jebel Ali
2M alliance partner MSC confirmed that the fire-damaged boxship Maersk Honam will be towed to the port of Jebel Ali, UAE, where her cargo will be offloaded. The transit and related operations are likely to take two weeks, and the exact ETA is not yet confirmed.  The
Honam is attended by the offshore tug Amazon Chieftain Z. As of Thursday, the Chieftain’s AIS signal showed her at a position 240 nm off the coast of Gujarat and headed north at three knots, with Jebel Ali as her destination. 
https://goo.gl/qmjwWj
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7. LR on Blockchain
Lloyd’s Register Foundation and Blockchain Labs for Open Collaboration (BLOC) announced a funding partnership to set up Maritime Blockchain Labs (MBL), which will explore the use of blockchain for the assurance and safety of critical infrastructure and
drive new business models for the global maritime industry.
The Foundation is one of the founding members and lead funder of the initiative. Over the next 18 months, the collaboration will provide resources for MBL to pursue three demonstrator projects focussed on aspects of risk
and safety where distributed systems can enable breakthrough solutions.
https://goo.gl/Qo4s9a
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8. US Gas to UK
The first LNG cargo from the newly operational Cove Point terminal on the U.S. East Coast arrived at the U.K.’s Dragon terminal on Wednesday, according to S&P Global Platts. It is only the second cargo of U.S. LNG to land in the U.K. since U.S. shale-gas
based LNG exports began in February 2016. The cargo was delivered aboard the Gemmata, which was diverted from its original route toward the Pacific basin, and landed in the U.K. at a time when LNG stocks are severely depleted
following two periods of extreme cold weather. Despite northwest Europe suffering, U.S. LNG shipments have been rare. 
https://goo.gl/DybV5u
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9. EU Tackling Pollution
European ambition to clean up the shipping sector’s greenhouse gas emissions is being led by Germany, Belgium and France, a new ranking shows. The top three, followed by the Netherlands, Spain, Sweden, and then the UK, Denmark, Luxembourg and Finland,
were the most active in pushing for an effective climate plan to be agreed by the International Maritime Organisation (IMO), the UN’s shipping body. The ranking, based on written and oral submissions to the IMO by EU countries, was compiled by sustainable
transport NGO Transport & Environment (T&E).
https://goo.gl/84F5qM
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10. Crew in Oil Dispute
Chemical/oil products tanker "San Padre Pio" (IMO 9610339) and 16 Ukrainian crew are being investigated by Nigeria’s Economic and Financial Crimes Commission (EFCC), in Port Harcourt, River State. The vessel was handed over
to the EFCC by the Nigerian Navy’s Forward Operations Base in Bonny, Rivers State.
The suspects were arrested on January 23rd by a Nigerian Navy Ship, NNS SAGBAMA’s patrol team for allegedly operating illegally in Nigerian waters against the provisions of Nigerian Cabotage Trade Law. The suspects would
soon be charged to court when investigations are concluded, the EFCC said. 
https://goo.gl/A3jJNZ
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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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