Seacurus Daily: Top Ten Maritime News Stories 16/05/2018
1. ICS Annual Review
The International Chamber of Shipping (ICS) has published its latest Annual Review 2018. The International Chamber of Shipping (ICS) is the principal global trade association for shipowners, concerned with all regulatory,
operational and legal issues, as well as employment affairs. The Annual Review is intended as a comprehensive overview of all the major issues faced by the global shipping industry, and in which ICS is engaged on behalf
of its member national shipowners associations and it will be of interest to anyone involved with international shipping, including shipping companies, maritime administrations and policy makers.
operational and legal issues, as well as employment affairs. The Annual Review is intended as a comprehensive overview of all the major issues faced by the global shipping industry, and in which ICS is engaged on behalf
of its member national shipowners associations and it will be of interest to anyone involved with international shipping, including shipping companies, maritime administrations and policy makers.
https://bit.ly/2Ihao5r
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2. Mission Rewards Welfare Champions
International seafarer welfare charity The Mission to Seafarers announced the winners of its inaugural Seafarers Awards at a dinner in Singapore on May 11. The Award winners were chosen by judges Capt Kuba Szymanski – Secretary
General of InterManager, Marlon Roño – President and CEO of Magsaysay People Resources Corporation, Esben Poulsson – Chairman of The International Chamber of Shipping, and The Revd Andrew Wright – Secretary General of The Mission to Seafarers. The
awards were made to seafarers and operational staff who made a significant contribution to the welfare of others:
General of InterManager, Marlon Roño – President and CEO of Magsaysay People Resources Corporation, Esben Poulsson – Chairman of The International Chamber of Shipping, and The Revd Andrew Wright – Secretary General of The Mission to Seafarers. The
awards were made to seafarers and operational staff who made a significant contribution to the welfare of others:
https://bit.ly/2wK1qrX
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3. Ship Token Sale Starts
Blockshipping, the creator of the Global Container Shipping Platform (GCSP), debut its public token sale with initial reports suggesting a very firm take-up for the company. The month long sale is targeted to get $24.8m in
investments. Blockshipping is creating a first real-time registry, using blockchain and sensors, to keep track of the 27m shipping containers in use around the world, as well as a platform to unite all container shipping
stakeholders to allow for efficient transactions related to container handling all over the world. Blockshipping estimates that smarter handling of containers could save the industry $ 5.7bn a year.
investments. Blockshipping is creating a first real-time registry, using blockchain and sensors, to keep track of the 27m shipping containers in use around the world, as well as a platform to unite all container shipping
stakeholders to allow for efficient transactions related to container handling all over the world. Blockshipping estimates that smarter handling of containers could save the industry $ 5.7bn a year.
https://bit.ly/2L46fjd
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4. Tanker in Collision
The U.S. Coast Guards New York sector responded to collision Saturday between a loaded crude oil tanker and a commercial fishing vessel which left the tanker with a 30-foot gash in its hull. The collision allegedly occurred
nearly 30 miles southeast of Bridgehampton, New York. According to the Coast Guard, the loaded tankship Tofteviken was transiting to New York when it collided with the fishing vessel Polaris, which was transiting back
to its homeport in Massachusetts after a night of fishing.
nearly 30 miles southeast of Bridgehampton, New York. According to the Coast Guard, the loaded tankship Tofteviken was transiting to New York when it collided with the fishing vessel Polaris, which was transiting back
to its homeport in Massachusetts after a night of fishing.
https://bit.ly/2jYQPAk
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5. Investors Drive Action
The shipping industry has long been criticised by campaigners for allowing vessels to be broken up on beaches, endangering workers and polluting the sea and sand. Now, it is being called to account from a quarter that may
have a bit more clout its financial backers. Norways $1 trillion Oil Fund, a leader in ethical investing, in February sold its stake in four firms because they scrap on the beach. Three
of the firms excluded by Norways fund Taiwans Evergreen Marine, Precious Shipping and Thoresen Thai Agencies of Thailand say they have been unfairly singled out. The fourth, Korea Line, declined to comment.
have a bit more clout its financial backers. Norways $1 trillion Oil Fund, a leader in ethical investing, in February sold its stake in four firms because they scrap on the beach. Three
of the firms excluded by Norways fund Taiwans Evergreen Marine, Precious Shipping and Thoresen Thai Agencies of Thailand say they have been unfairly singled out. The fourth, Korea Line, declined to comment.
https://bit.ly/2wKj3YM
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6. Gone for a Songa
Continuing its consolidation of the sector Star Bulk Carriers is buying Songa Bulk in a cash and share deal worth $327.95m. Nasdaq-listed Star Bulk will acquire Norwegian shipowner Songa Bulks fleet of 15 vessels for $145m
in cash and 13.725m shares in Star Bulk, worth $182.95m based on yesterdays closing price of $13.33 per share. Songa Bulk has a fleet of three capesizes, 10 kamsarmaxes, one ultramax and one supramax totalling 1.48m dwt.
The acquisition would give Star Bulk a fully delivered fleet of 108 bulkers totalling 12.26m dwt with an average age of 7.1m dwt.
in cash and 13.725m shares in Star Bulk, worth $182.95m based on yesterdays closing price of $13.33 per share. Songa Bulk has a fleet of three capesizes, 10 kamsarmaxes, one ultramax and one supramax totalling 1.48m dwt.
The acquisition would give Star Bulk a fully delivered fleet of 108 bulkers totalling 12.26m dwt with an average age of 7.1m dwt.
https://bit.ly/2IlXtva
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7. Retrofit Ballast Treatment
One of the largest Greek shipowners Angelicoussis Shipping Group Limited (ASGL) has opted for Ecochlor to retrofit 36 vessels with Ballast Water Treatment Systems (BWTS). The deal covers both tankers for AGSLs Maran Tankers
Management and bulkers for Anangel Maritime Services. The 36 systems will be fitted to VLCCs, suezmaxes, aframaxes, capesizes and mini-capes between 2018 and 2020 at yards in Singapore, Dubai, Qatar and China. The new
BWT systems will ensure that ASGLs vessels comply with both the IMO Ballast Water Management Convention and more stringent US Coast Guard (USCG) regulations.
Management and bulkers for Anangel Maritime Services. The 36 systems will be fitted to VLCCs, suezmaxes, aframaxes, capesizes and mini-capes between 2018 and 2020 at yards in Singapore, Dubai, Qatar and China. The new
BWT systems will ensure that ASGLs vessels comply with both the IMO Ballast Water Management Convention and more stringent US Coast Guard (USCG) regulations.
https://bit.ly/2rKfrkz
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8. Stress of Sulphur Test
Investors are increasingly concerned that, with only 18 months to go until the IMOs 0.5% sulphur cap regulations, container lines still have no clear strategy on how they will comply, and how the change will be paid for. This
wait and see approach is regarded as a red flag by investors who worry that the lines will stumble into the default solution, in January 2020, of burning the 50%-more-expensive low-sulphur fuel oil (LSFO) in their ships without proper compensation.
wait and see approach is regarded as a red flag by investors who worry that the lines will stumble into the default solution, in January 2020, of burning the 50%-more-expensive low-sulphur fuel oil (LSFO) in their ships without proper compensation.
https://bit.ly/2L5SLmL
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9. Indonesia Eye More Ports
Indonesia is set to open eight more seaports for international trade, local reports said. Transportation Ministry organization and human relations affairs division head, Gus Rional, was quoted as saying that the opening of
more seaports for international trade would cut transportation costs for industry and help Indonesias products become more competitive in the international market. The seaports will help boost export and import activities,
said Gus.
more seaports for international trade would cut transportation costs for industry and help Indonesias products become more competitive in the international market. The seaports will help boost export and import activities,
said Gus.
https://bit.ly/2k0gxEH
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10. Attacks Down, Emotions Up
While the figure of 180 reported attacks is the lowest annual number since 1995, shipping has a right to expect the world to take note that this problem has not gone away. Indeed there are signs that such incidents are again on the increase. The incidence
of first quarter pirate attacks is markedly up in 2018 when compared with the preceding four years. Just because attacks in the Gulf of Aden have reduced does not mean that there is not potential for the problem to flare up
elsewhere. Today West Africa is causing concern. It is only when national governments take the problem seriously that piracy can be tackled.
of first quarter pirate attacks is markedly up in 2018 when compared with the preceding four years. Just because attacks in the Gulf of Aden have reduced does not mean that there is not potential for the problem to flare up
elsewhere. Today West Africa is causing concern. It is only when national governments take the problem seriously that piracy can be tackled.
https://bit.ly/2rH93K6
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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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