Seacurus Daily: Top Ten Maritime News Stories 17/05/2018




Seacurus Daily: Top Ten Maritime News Stories 17/05/2018

1. New Head of UK Chamber
UK Chamber of Shipping has appointed Bob Sanguinetti as its new CEO, taking over from Guy Platten who is moving over to the International Chamber of Shipping. Sanguinetti is moving from the
role of CEO at Gibraltar Port Authority, which he has held since April 2014. 
Sir Michael Bibby, president of the UK Chamber of Shipping commented: “Bob comes with a distinguished track record of service to the industry,
both in a civilian and military context. His excellent track record at the Gibraltar Port Authority speaks for itself, and his leading role in developing Gibraltar’s Brexit contingency plan will stand him in excellent stead.”
https://bit.ly/2IpRIN0
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2. Statoil Drops the Oil
Shareholders of Norwegian energy giant Statoil have approved a proposal to change the company’s name from Statoil ASA to Equinor ASA reflective of the company’s (and Norway’s) growing focus on green energy. During annual general
meeting (AGM) of shareholders held Tuesday, Statoil shareholders voted in favor of the board of directors’ proposal to change the company name to Equinor ASA, and amended the company’s Articles of Association accordingly. 
The
company expects to implement the change immediately, and shares are expected to trade on Oslo Børs under the new ticker “EQNR”.
https://bit.ly/2IoGE2t
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3. A Confusion of Lights
Maritime NZ has prosecuted the master of one of Fullers Group Limited’s Auckland ferries, Seaflyte, after the vessel collided with a recreational boat. The collision occurred on a still night
with a lot of light reflection on the water, and Maritime NZ Northern Regional Manager Neil Rowarth this is a known risk in the inner harbor. “Many Auckland shipping operators’ have written this into their safety plans as a time when particular care is needed
to prevent collisions on one of our busiest harbors.
https://bit.ly/2IppZvX
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4. Psst Wanna Buy Some Bad Debt
As of today in Italy there are roughly $1bn of shipping-related non-performing loans (NPLs) up for sale, according to Fabrizio Vettosi, managing director of the private equity fund Venice Shipping & Logistics. Speaking at a conference in Italy, Vettosi
added that banks have already dismissed some. Furthermore he added that “the banks has already dismissed some $1.6bn of NPLs in recent years, drastically transforming the landscape of the Italian shipowning scene. Key buyers to
date have mainly been speculative financial investors such as Taconic Capital, Attestor Capital, Pillarstone, Goldman Sachs, Deutsche Bank and Bain Capital.
https://bit.ly/2wLBb4J
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5. Seeing Sense in Shipping
NYSHEX, the New York Shipping Exchange, has attracted plenty of investor, industry and media interest but is it really managing to make sense of what ceo Gordon Downes describes as a chaotic marketplace. The exchange was the
subject at a lively meeting hosted by NYMAR (New York Maritime), at a recent midtown gathering. Historically, NYMAR’s focus has tended towards bulk shipping, and attendees learned that the deregulation of liner shipping, underway in fits and starts since the
mid-1980s, has come with a price attached. 
https://bit.ly/2rNk8ZZ
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6. China’s Indian Ocean Vision
China is moving to establish a network of naval and air bases in the Indian Ocean to support its growing strategic imperatives in the region. This likely includes plans to build bases in the eastern Indian Ocean. In July 2017,
China opened its first overseas military base in Djibouti, and Beijing is currently in negotiations with Pakistan to establish an additional base at or near Gwadar on the Arabian Sea. But it will not be enough for China to only have capabilities in the north-west
Indian Ocean. China’s strategic imperatives need a network of military facilities of various types across the ocean, including in its central/eastern zone.
https://bit.ly/2GmzWbm
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7. LR Sulphur Guidance
Lloyd’s Register (LR) has launched the Sulphur 2020 – Options Evaluator to help the industry identify the best strategy for compliance with the global sulphur in fuel oil limit of 0.50% m/m, which comes into effect on January 1 2020. The
Options Evaluator aims to bring some much-needed clarity to what the potential cost and investment implications could be for the various compliance strategies, such as transition from fuel oil to MGO, use of scrubbers and HSFO or use of other compliant fuels
such as LNG or Methanol.
https://bit.ly/2rL4yPt
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8. Laying off Trade Personnel
Responding to news of potential job cuts at the Department for International Trade, Maritime UK Chairman, David Dingle CBE said: “This is deeply worrying news. “At a time when the UK is preparing
to leave the European Union and then position itself as an outward-looking, global trading maritime nation, we need maximum government support to encourage UK companies to export, and government support to match UK capability with global opportunities. 
“To
hear that this critical trade promotion support could be reduced is unbelievable", he added.
https://bit.ly/2rNPJvB
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9. Strong Braemar Leap
Braemar Shipping Services plc, a leading international provider of broking, financial, consultancy, technical and logistics services to the shipping, marine, energy, offshore and insurance industries, yesterday announced results for the year ended 28 February
2018. The company saw a 93% increase in underlying operating profit to GBP8.2m (2016/17: GBP4.2m) at the top of the previously announced range. Revenue broadly unchanged at GBP133.4m (2016/17:
GBP135.9m), while n
et debt reduced following the successful acquisitions of Braemar Naves Corporate Finance GmbH and Braemar Atlantic Brokers Holdings Limited.
https://bit.ly/2jZeEb9
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10. IMO Welcomes Smallest Island Nation
The International Maritime Organization (IMO) has welcomed a new member, the Republic of Nauru. On May 14, 2018, Nauru deposited its instrument of acceptance to the IMO Convention with the United Nations depositary – becoming
IMO’s 174th member state. 
With an area of 21 square kilometers, Nauru is the world’s smallest island nation with a population of just under 10,000 inhabitants. This developing country is situated north-east of Australia,
some 42 kilometers south of the equator.
https://bit.ly/2rM50fL
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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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