Seacurus Daily: Top Ten Maritime News Stories 06/05/2018




Seacurus Daily: Top Ten Maritime News Stories 06/05/2018

1. Aegean in Earnings Shock
Shares in Aegean Marine Petroleum plummeted 75% when the firm announced a $200 million writedown on accounts receivable from four clients. The company said that the deals "may have been,
in full or in part, without economic substance and improperly accounted for."  In response Aegean said that it has dismissed or suspended several employees, reconstituted its board, revamped its management team, and created an
independent audit committee.
https://bit.ly/2Hm7XJm
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2. Agreement on Gas
Shipping industry giants have been debating fuels at Posidonia. Chairman and CEO of Angelicoussis Shipping Group, John Angelicoussis and others see that the future will inevitably be LNG.
Gas has come a long way in the past decade. It seems that once more, especially with rising fuel bills and environmental pressures that gas is being seen as the answer.
https://bit.ly/2sKauIl
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3. Happy VLCC Days
While Athens is in the spotlight of the global shipping community this week, with Posidonia taking place, owners of VLCCs, many of which are indeed Greeks, are able to smile more, as a
result of improved market sentiment, despite the fact that it has not translated, yet, to higher freight rates. In its latest weekly report, shipbroker Affinity Research noted that “with summer practically at the doorstep, trade flows pick up in line with
traditional seasonality.
https://bit.ly/2JkoHTp
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4. Wreck Proving Problematic
The wreck of the container feeder Kea Trader continues to degrade at Durand Reef, New Caledonia, 11 months after it went aground. According to high commissioner Thierry Lataste, the bow
section of the wreck is now listing 18 degrees to starboard, complicating salvors’ efforts to board it and prepare for its removal, even under normal weather conditions. 
https://bit.ly/2JwHAWp
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5. Drone Ship Deliveries
Global ships agency Wilhelmsen is teaming up with Airbus to bring shore-to-ship drone delivery to Port of Singapore. The new service, called Agency by Air,
is set to launch at Singapore port’s Marina South Pier in the third quarter of 2018, where Wilhelmsen Ships Service and Airbus will be piloting the delivery of spare parts, documents, water test kits and 3D printed consumables via Airbus’ Skyways unmanned
air system (UAS) to vessels at anchorage.
https://bit.ly/2Jhx95F
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6. Box Loss Investigation
The Australian Transport Safety Bureau (ATSB) will investigate the loss of dozens of shipping containers overboard from the Yang Ming-operated cargo ship YM Efficiency off of New South
Wales, Australia last Friday. The Liberian-flagged YM Efficiency was sailing from Taiwan to Port Botany with 2,252 loaded containers when it encountered rough weather off Port Stephens, News South Wales shortly after midnight on
June 1, 2018.
https://bit.ly/2JjvHjh
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7. BIMCO Power Panel
BIMCO is holding a ‘Power Panel’ at this year’s Posidonia 2018 event. The panel will debate some key developments impacting shipping business today, with the
focus on challenges and future prospects for the dry bulk and oil tanker shipping markets, including implications of the 2020 global sulphur cap. 
The debate will be hosted by BIMCO chief shipping analyst Peter Sand and BMCO
president Anastasios Papagiannopoulos who will inaugurate the event.
https://bit.ly/2Jst81B
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8. Still Hunting MH370
Ocean Infinity’s “no cure, no pay” contract is up, but the company has not abandoned its search for the missing aircraft MH370. The contract with Malaysia ended
last Tuesday, but the company’s vessel Seabed Constructor is reported to have moved to a new search area at a latitude of 25 degrees South and 101 degrees East where the Chinese navy ship Haixun 01 detected a suspected black box “ping” less than a month after
the plane disappeared on March 8, 2014 during a flight from Kuala Lumpur to Beijing with 239 people on board. 
https://bit.ly/2Jy2HHV
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9. Call for Unmanned Bridges
ABB, the industrial technology company, believes it is time to discuss letting some of today’s ships occasionally sail the oceans with unmanned bridges. Ships can sail with unmanned enginerooms
at times, so why not let the bridges go unmanned for select periods of time? A recently published white paper from the company suggests that technology is robust enough to allow this to happen if the regulatory landscape would
be adjusted to permit it.
https://bit.ly/2xKHLsJ
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10. India Sees Port Cargo Growth
India’s 12 major ports saw cargo traffic increase by 1.78 percent to 56.81 million tonnes (MT) in April 2018. These top ports under the Centre had handled
55.81 MT cargo in April 2017, as per the Indian Ports Association. 
Fertilizer traffic volumes were up 60.66 percent to 0.58 MT during the month as against 0.36 MT in April 2017 while thermal coal volumes surged by 24.34
percent to 9.69 MT.
https://bit.ly/2xHkOGC
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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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