Seacurus Daily: Top Ten Maritime News Stories 30/05/2018
1. Trump Presses Chinese Tariffs
President Donald Trump said hes moving ahead with plans to impose tariffs on $50 billion of Chinese imports and curb investment in sensitive technology, ratcheting up pressure on Beijing days before the next round of trade
negotiations. The White House said a final list of targeted imports will be released by June 15 and the tariffs will be imposed shortly thereafter. Its the most specific the administration has been about the timing
for the duties to take effect. The administration also said new restrictions on Chinese investment and enhanced export controls will be announced by June 30 and then implemented shortly after.
2. North Korean Smuggling
The Japanese Ministry of Foreign Affairs reported another instance of a banned ship-to-ship fuel transfer involving a North Korean vessel in the East China Sea. The alleged sanctions-busting activity took place on the night
of May 19 at a position about 190 nm southeast of Shanghai, a region in which several other smuggling incidents have been spotted. A Japan Maritime Self-Defense Force P-3C maritime patrol aircraft photographed the sanctioned North Korean vessel Ji Song 6 rafted
up alongside a smaller, unidentified ship. Both had their lights on, and they were connected with hoses.
3. Profit in Flipping Ships
Unlike other capital assets whose value depreciates over the economic life of the asset, ships are known to appreciate in value if markets are strong. When freight markets are exuberant, the value (price) of ships can appreciate
as investors expect stronger cash slow streams and higher earnings. Its not unheard of ships having doubled or trebled in value in a matter of years, generating exceptional windfalls for their owners.
4. Dealing With Waste
The recently published proposal for a new Directive on Port Reception Facilities is welcomed by ECSA, as it addresses major issues with the current system in place. The new proposal will help in ensuring there are adequate port reception facilities available,
require an advance waste notification from ships as well as a waste delivery receipt for reception facilities, and facilitate monitoring and enforcement through existing systems for electronic reporting and the exchange of information.
5. Full Cyber Solution
OSERV, a part of OSM Maritime Group focusing on supply chain management and value-added services, has geared up to offer integrated risk management systems for the shipping industry to address the increasing threat from cyber attacks. Peter
Schellenberger, managing director of OSERV, says cyber threat in the sector is increasing rapidly as hackers and organised crime start to realise how vulnerable shipping is as a target. This is doubly troublesome as shipping companies connect their fleet to
VSAT broadband without upgrading security to match.
6. Finding Box Troubles
Maersk Line selected ABS to lead a workshop to identify and evaluate potential hazards posed on containerships from dangerous cargoes stowage. The workshop assembled industry stakeholders to conduct a comprehensive Hazard
Identification (HAZID) study to better understand key risks associated with cargo.
The workshop identified hazards associated with dangerous goods stowage on a range of containership designs, many which are not fully addressed by the IMDG Code. The outcome will include recommendations to improve stowage
planning and hazard mitigation, leading to better management of risks.
7. Huge Costa Growth
Costa Cruises is continuing to expand and renew its fleet of ships flying the Italian flag. At Fincantieri’s Marghera shipyard, construction has begun on a new 135,500-ton ship with 2,116 cabins, due for delivery in 2020. Like its twin Costa Venezia, it
will be designed specifically for the Chinese market. Between 2019 and 2021, four new ships will enter service for Costa, with an overall increase in capacity of 43%. Costa Venezia, currently under construction in the Fincantieri
shipyard in Monfalcone, is due to arrive in February 2019, while the flagship Costa Smeralda, the first cruise ship for the world market powered by LNG.
8. Rip Fees Resolved
A British-based maritime services company has agreed to pay $20 million to resolve allegations it overbilled the U.S. Navy for goods and services provided to American warships at ports around the world, the U.S. Justice Department said on Tuesday. Privately
held Inchcape Shipping Services Holdings Ltd and some of its subsidiaries provided U.S. Navy ships with waste removal, telephone access, ship-to-shore transportation, security and other services at ports in the Middle East, Africa and Latin America, the Justice
Department said in a statement.
9. Honam Finally Berthed
The fire-stricken containership Maersk Honam has now berthed at the Port of Jebel Ali where cargo discharge operations are now underway nearly three months after a major fire broke out on board the vessel. Maersk Line confirmed
in a statement to gCaptain that the Maersk Honam berth on Sunday, May 27.
The discharge operations for all undamaged cargo have commenced and are estimated to last approximately four to six days, Maersk said.
10. Ro-Ro Fire Extinguished
Firefighters completely extinguished the fire aboard vehicle carrier Auto Banner (IMO 8608066) at the port of Incheon on May 24th after three days. The fire gutted about 1,500 used cars. A total of 2,438 used cars were on the ship when the blaze broke
out on deck 11 during the morning of May 21st. The blaze also gutted decks 12 and 13. About 840 firefighters and some 240 fire trucks were mobilised to fight the fire. Fire officials were trying to determine the exact cause of
the blaze and the amount of damage, but said that it would take at least a month to examine the scene completely.
Daily news feed from Seacurus Ltd providers of MLC crew insurance solutions www.seacurus.com
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