Seacurus Daily: Top Ten Maritime News Stories 11/05/2018
1. Huge New Taiwanese Venture
Taiwanese companies Yang Ming Marine Transport, Taiwan Navigation, TS Lines, Taiwan International Ports Corporation (TIPC), Tungya Transportation and Chunghwa Post have entered into a letter of intent to form a joint venture
for overseas investment. The joint venture, which is arranged by Taiwans Ministry of Transportation, plans to raise initial investment funds of $40m. The Taiwanese government expects
the new investment entity to play an important role in New Southbound Policy, an initiative of Taiwanese government to enhance cooperation and exchanges with countries in Southeast Asia, South Asia and Australasia.
for overseas investment. The joint venture, which is arranged by Taiwans Ministry of Transportation, plans to raise initial investment funds of $40m. The Taiwanese government expects
the new investment entity to play an important role in New Southbound Policy, an initiative of Taiwanese government to enhance cooperation and exchanges with countries in Southeast Asia, South Asia and Australasia.
https://bit.ly/2rADa5P
———————————————————————————
2. Time for Shipping Adjustment
International shipping will likely feel the effects of the Trump administration’s reimposition of American sanctions on Iran. However, operators will have time to adjust, reports law firm Winston & Strawn. Beginning immediately,
the firm reports, the U.S. Department of State and the Department of the Treasury are working on three- to six-month waiver period plans that will give businesses time to wind down trade with Iran. This means that the sanctions regime will not be fully reinstated
until November 4, 180 days after President Trump’s announcement that the U.S. will withdraw from the JCPOA with Iran.
the firm reports, the U.S. Department of State and the Department of the Treasury are working on three- to six-month waiver period plans that will give businesses time to wind down trade with Iran. This means that the sanctions regime will not be fully reinstated
until November 4, 180 days after President Trump’s announcement that the U.S. will withdraw from the JCPOA with Iran.
https://bit.ly/2IfLq2w
———————————————————————————
3. Charter Rates Soar
Charter rates for classic panamax boxships are now at their highest levels in 30 months, lending credence to a bold prediction made at the Maritime CEO Forum two months ago in Singapore. Alphaliner
is reporting in its latest weekly report that charter rates for the much maligned classic panamax have risen by almost 200% from lows in late 2016 when rates sunk to as little as $4,000 to $4,200 per day. Alphaliner reports that charter rates in Asia for ships
in the 4,000 to 5,100 teu range are now commanding $13,000 a day. Rates are expected to strengthen further, sustained by the rising demand, Alphaliner stated.
is reporting in its latest weekly report that charter rates for the much maligned classic panamax have risen by almost 200% from lows in late 2016 when rates sunk to as little as $4,000 to $4,200 per day. Alphaliner reports that charter rates in Asia for ships
in the 4,000 to 5,100 teu range are now commanding $13,000 a day. Rates are expected to strengthen further, sustained by the rising demand, Alphaliner stated.
https://bit.ly/2IfLj76
———————————————————————————
4. 3D Printing and Box Trade
3D printing could decimate the container shipping industry over the next 20. While many of the worlds largest ports sink huge investments into being able to handle 20,000 teu containerships, Diane Edwards, WISTA international
secretary and general manager (people, systems and technology) for the Port of Auckland said she believed containerisation would decrease over the next few years. Edwards said that people were still thinking of 3D printing
in very traditional terms such as manufacturing spare parts for ships, but she sees a much its use spreading much wider as a disruptive technology once its adopted by consumers.
secretary and general manager (people, systems and technology) for the Port of Auckland said she believed containerisation would decrease over the next few years. Edwards said that people were still thinking of 3D printing
in very traditional terms such as manufacturing spare parts for ships, but she sees a much its use spreading much wider as a disruptive technology once its adopted by consumers.
https://bit.ly/2jP3mWP
———————————————————————————
5. Firm Claims Plimsoll Line
In 2009, despite over a century of use by countless parties, the United States Patent and Trademark Office apparently issued a trademark for the exclusive use of this mark on items ranging from magnets, namely, decorative magnets and refrigerator magnets
to plastic license plates, to William C. Leewenburg, a Marine Cargo Surveyor in Morehead City, North Carolina. Mr Leewenburg is now chasing companies to get them to stop using the mark…currently this is only about merchandise – but will ships be stopped
from using the marks? All in all a very strange patent decision indeed.
to plastic license plates, to William C. Leewenburg, a Marine Cargo Surveyor in Morehead City, North Carolina. Mr Leewenburg is now chasing companies to get them to stop using the mark…currently this is only about merchandise – but will ships be stopped
from using the marks? All in all a very strange patent decision indeed.
https://bit.ly/2KSr4Og
———————————————————————————
6. Shipbuilding Subsidy Row
Germanys shipbuilding association, VSM, has hit out at rivals in East Asia for taking on loss making projects. In a release following the associations annual general meeting, the German yards group stated: China is attracting
more and more orders in niche markets with prices below material costs. In Korea, the state-owned banks, which are now often the main owners of the yards after restructuring, are now also financing loss-making projects. In addition, the state has announced
despite overcapacity to want to order 200 large merchant ships. Japan is contemplating once again taking South Korea to the WTO over subsidies.
more and more orders in niche markets with prices below material costs. In Korea, the state-owned banks, which are now often the main owners of the yards after restructuring, are now also financing loss-making projects. In addition, the state has announced
despite overcapacity to want to order 200 large merchant ships. Japan is contemplating once again taking South Korea to the WTO over subsidies.
https://bit.ly/2rFwqon
———————————————————————————
7. New Remote Port for Thailand
Hutchison Ports plans to open a fully-remote-controlled container terminal in Laem Chabang, Thailand, in June. The new $600 million, 1.7 kilometer (one mile) Terminal D will become operational in three phases with final
completion planned for 2024. It will increase Laem Chabang’s capacity by 3.5 million TEUs, and both quay and gantry cranes are remotely controlled. The cranes, three super post-Panamax quay cranes and eight electric rubber tired gantry cranes, were built by
Shanghai Zhenhua Heavy Industry (ZPMC).
completion planned for 2024. It will increase Laem Chabang’s capacity by 3.5 million TEUs, and both quay and gantry cranes are remotely controlled. The cranes, three super post-Panamax quay cranes and eight electric rubber tired gantry cranes, were built by
Shanghai Zhenhua Heavy Industry (ZPMC).
https://bit.ly/2rAIru5
———————————————————————————
8. Promotion Hungry Officer Froze
The UK Marine Accident Investigation Branch (MAIB) has released its report on the investigation into last years grounding of the general cargo ship Islay Trader off Margate, England, finding that poor navigational and bridge watchkeeping practices contributed
to the incident. The Barbados-flagged Islay Trader grounded on the morning of October 8, 2017 near the seaside town of Margate in Kent after dragging anchor, the MAIB found.
to the incident. The Barbados-flagged Islay Trader grounded on the morning of October 8, 2017 near the seaside town of Margate in Kent after dragging anchor, the MAIB found.
https://bit.ly/2rzuuNe
———————————————————————————
9. Amazing New Command Centre
Carnival Cruise Line has previewed its new Fleet Operations Center (FOC) in Miami, the largest and most advanced in the cruise industry. The 35,000-square-foot facility is custom-designed for hands-on, around-the-clock monitoring and support of the line’s
26 cruise ships. The Carnival Cruise Line FOC is the first facility of its kind in South Florida and features a state-of-the-art tracking and data-analysis platform that enables real-time information sharing between Carnival
ships and specialized shoreside teams designed to support fleet operations. It has a 74-foot-long video wall composed of 57 LED screens.
26 cruise ships. The Carnival Cruise Line FOC is the first facility of its kind in South Florida and features a state-of-the-art tracking and data-analysis platform that enables real-time information sharing between Carnival
ships and specialized shoreside teams designed to support fleet operations. It has a 74-foot-long video wall composed of 57 LED screens.
https://bit.ly/2wxXF8X
———————————————————————————
10. Challenges for Training
The maritime industry faces its share of challenges when it comes to training. Maritime stakeholders say their largest challenge is a lack of financial resources, according to the Maritime Training Insights Database (MarTID)
2018 Training Practices Report. Other top challenges include a shortage of competent and dedicated training personnel as well as the procurement and availability of specific training courses. Looking
forward, rapid digitalization and technological advancement as well as a lack of qualified training personnel were placed ahead of financial constraints as the greatest training challenges.
2018 Training Practices Report. Other top challenges include a shortage of competent and dedicated training personnel as well as the procurement and availability of specific training courses. Looking
forward, rapid digitalization and technological advancement as well as a lack of qualified training personnel were placed ahead of financial constraints as the greatest training challenges.
https://bit.ly/2rzf0tb
———————————————————————————
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
This communication is from the Barbican Insurance Group of companies. This email (and any attachment) is intended only for the attention of the addressee and may contain legally privileged and/or confidential information. Its unauthorised use, disclosure,
storage or copying is not permitted. If you are not the intended recipient, please permanently delete the original, destroy all copies and inform the sender by return email. An email reply to this address may be subject to interception or monitoring for operational
reasons or for lawful business practices. Seacurus Ltd is authorised and regulated by the Financial Conduct Authority. Registered Office: Suite 3, Level 3, Baltic Place West, South Shore Road, Gateshead, Tyne and Wear, NE8 3BA. Registered in England and Wales
(company no. 05201529)
storage or copying is not permitted. If you are not the intended recipient, please permanently delete the original, destroy all copies and inform the sender by return email. An email reply to this address may be subject to interception or monitoring for operational
reasons or for lawful business practices. Seacurus Ltd is authorised and regulated by the Financial Conduct Authority. Registered Office: Suite 3, Level 3, Baltic Place West, South Shore Road, Gateshead, Tyne and Wear, NE8 3BA. Registered in England and Wales
(company no. 05201529)
______________________________________________________________________
This email has been scanned by the Symantec Email Security.cloud service.
For more information please visit http://www.symanteccloud.com
______________________________________________________________________
