Seacurus Daily: Top Ten Maritime News Stories 05/04/2018
1. Most Anticipated Meeting
Addressing the start of the intersessional working group on the reduction of greenhouse gas (GHG) emissions from ships yesterday, Kitack Lim, the secretary general of the International Maritime Organization, stressed the importance of those attending to
reach a firm agreement fast on adopting an initial strategy for shipping to reduce its carbon footprint. Interest in the outcome of MEPC has never been higher, Lim noted, as evidenced from the protesters who were waiting for
delegates outside the IMO headquarters yesterday morning.
reach a firm agreement fast on adopting an initial strategy for shipping to reduce its carbon footprint. Interest in the outcome of MEPC has never been higher, Lim noted, as evidenced from the protesters who were waiting for
delegates outside the IMO headquarters yesterday morning.
https://goo.gl/YnHXzG
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2. Car Shipper Guilty
Japans Kawasaki Kisen Kaisha (K Line) has pleaded guilty to criminal cartel conduct, the Australian Competition and Consumer Commision (ACCC) has reported. The plea is the second in Australia in relation to car carrying
cartel behaviour spotted by the authorities. Nippon Yusen Kaisha (NYK) paid a fine last year after also pleading guilty. The ACCC said today its investigation into other alleged cartel participants would continue.
cartel behaviour spotted by the authorities. Nippon Yusen Kaisha (NYK) paid a fine last year after also pleading guilty. The ACCC said today its investigation into other alleged cartel participants would continue.
https://goo.gl/WzzTr6
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3. Cruise Ship Wave
A wave of new ships is coming in the next few weeks as the cruise lines gear up for their busy summer season in Europe and North America. In fact, half of all the new ships scheduled for this year will be introduced in the next six weeks. The
current year, 2018, promises to be a milestone year for the cruise industry with 10 large new ships scheduled for delivery in addition to the first of new ships targeted at the expedition segment. Over 1.3 million gross tons and over 34,000 new berths are
scheduled for introduction over the course of the year.
current year, 2018, promises to be a milestone year for the cruise industry with 10 large new ships scheduled for delivery in addition to the first of new ships targeted at the expedition segment. Over 1.3 million gross tons and over 34,000 new berths are
scheduled for introduction over the course of the year.
https://goo.gl/Kg4Js2
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4. Tariff Trade War
Beijing has announced tariffs on 106 U.S. products worth $50 billion, matching the Trump administration’s recently announced duties on 1,300 Chinese imports. The affected American goods include cars, aircraft and major agricultural commodities like pork
and soybeans. These tariffs have not taken effect yet, and China has not announced an implementation timeline for its latest round. American stock indexes rose sharply on Wednesday, buoyed by indications from both sides that
the announcements are a prelude to negotiations and will not be put into action.
and soybeans. These tariffs have not taken effect yet, and China has not announced an implementation timeline for its latest round. American stock indexes rose sharply on Wednesday, buoyed by indications from both sides that
the announcements are a prelude to negotiations and will not be put into action.
https://goo.gl/7CJwZj
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5. Change From Within
Transparency International has proposed a number of changes that it says could make the IMO better able to serve the interests of the world’s citizens on issues such as greenhouse gas emissions. Ultimately, though, it’s up to Member States to decide whether
to take on any recommendations from an external NGO.
to take on any recommendations from an external NGO.
The proposals include requirements for state representatives to demonstrate an absence of conflicts of interest in their role as national delegates, including through disclosure of assets, and modifying the ratification process
for IMO conventions so that the importance of tonnage is reduced.
for IMO conventions so that the importance of tonnage is reduced.
https://goo.gl/TShok3
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6. COSCO on the Rise
COSCO Shipping posted a net profit of $264m in 2017, reversing a loss of $1.1bn in the previous year, as it targets a June date for closing the $6.3bn takeover of Orient Overseas International Lines (OOIL) and its container line arm, OOCL. Turnover
at the Chinese state-owned carrier leapt 30%, compared with the previous year, to $12.8bn, although revenue from the merger of Chinese Shipping Container Line (CSCL) was not consolidated until March 2016. Similarly COSCOs
liftings were up by 24% on the previous year at 20.9m teu, an impressive well-above industry growth of 16%.
at the Chinese state-owned carrier leapt 30%, compared with the previous year, to $12.8bn, although revenue from the merger of Chinese Shipping Container Line (CSCL) was not consolidated until March 2016. Similarly COSCOs
liftings were up by 24% on the previous year at 20.9m teu, an impressive well-above industry growth of 16%.
https://goo.gl/V93ZFC
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7. Complacency Shaking Shipping
As U.N. talks on cutting greenhouse gases from the shipping industry open in London, there are concerns that a dangerous complacency is taking hold in the sector. The main point of the meeting is to define a response from
the international shipping sector to the Paris Agreement. This is a commitment by all the worlds countries to reduce GHG emissions in order to avoid dangerous climate change defined in the agreement as stabilising temperature
rise well below 2C and pursuing efforts to limit to 1.5C. Temperatures have already exceeded 1C, there is very little time now remaining to avoid risks damaging global society.
the international shipping sector to the Paris Agreement. This is a commitment by all the worlds countries to reduce GHG emissions in order to avoid dangerous climate change defined in the agreement as stabilising temperature
rise well below 2C and pursuing efforts to limit to 1.5C. Temperatures have already exceeded 1C, there is very little time now remaining to avoid risks damaging global society.
https://goo.gl/VDCxHE
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8. Gas Orders Expand
South Koreas Samsung Heavy Industries (SHI) has received orders for up to four liquefied natural gas (LNG) carrier newbuildings from an undisclosed company. On April 4, the shipbuilder informed that it signed a contract
for two firm 174,000m3 LNG carrier orders with options for two more units, subject to board approval by buyer. The two firm LNG carriers, which are priced at USD 184 million a piece, would be delivered in July and October
2020, respectively.
for two firm 174,000m3 LNG carrier orders with options for two more units, subject to board approval by buyer. The two firm LNG carriers, which are priced at USD 184 million a piece, would be delivered in July and October
2020, respectively.
https://goo.gl/aG1s9F
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9. Going Green Together
German carrier Hamburg Süd and Swedish home appliance company Electrolux are teaming up to reduce sulfur dioxide emissions in ports. During its layovers in Manzanillo (Mexico), Callao (Peru), Iquique and Puerto Angamos (Chile)
between March 11 and 24, the 7,114 TEU Santa Catarina voluntarily used cleaner marine gas oil (MGO) instead of standard heavy fuel oil (HFO) to operate its auxiliary engines and boilers. As explained, both of these must be running in port to supply the ship
with electricity and heat. Hamburg Süd, part of Maersk, and Electrolux already carried out a fuel upgrade in the past.
between March 11 and 24, the 7,114 TEU Santa Catarina voluntarily used cleaner marine gas oil (MGO) instead of standard heavy fuel oil (HFO) to operate its auxiliary engines and boilers. As explained, both of these must be running in port to supply the ship
with electricity and heat. Hamburg Süd, part of Maersk, and Electrolux already carried out a fuel upgrade in the past.
https://goo.gl/DWnP2N
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10. Throughput on the Rise
Combined throughput at the worlds 110 busiest container ports increased by 6.1% in 2017, driven by a recovery witnessed in global economy and trade during the year. According to a report from Alphaliner, the 110 busiest
container ports in the world handled 600 million TEU in 2017, up from 565 million TEU reported in 2016. Out of these, only twelve ports recorded lower volumes during the year, while the remaining 98 ports saw volume gains. The
top ten ports remained in the same rankings, although growth at the individual ports was varied at between 1.6% and 14.1%.
container ports in the world handled 600 million TEU in 2017, up from 565 million TEU reported in 2016. Out of these, only twelve ports recorded lower volumes during the year, while the remaining 98 ports saw volume gains. The
top ten ports remained in the same rankings, although growth at the individual ports was varied at between 1.6% and 14.1%.
https://goo.gl/fkvgtd
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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
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