Seacurus Daily: Top Ten Maritime News Stories 19/06/2018
1. Gas Tariff Immune
In response to U.S. President Donald Trump’s announcement of tariffs on $50 billion in Chinese imports, Beijing has published a long list of American products that will be subject to 25 percent tariffs beginning in July.
These exports include soybeans, dairy products, cars, oil, and propane, among other categories. However, liquefied natural gas (LNG) is conspicuously absent, and analysts with Wood Mackenzie say that this is not a mistake. "LNG
is clearly seen as an essential good by the Chinese government. Given this, in the event of an escalation, LNG is likely to remain outside the bounds of any additional tariffs."
These exports include soybeans, dairy products, cars, oil, and propane, among other categories. However, liquefied natural gas (LNG) is conspicuously absent, and analysts with Wood Mackenzie say that this is not a mistake. "LNG
is clearly seen as an essential good by the Chinese government. Given this, in the event of an escalation, LNG is likely to remain outside the bounds of any additional tariffs."
https://bit.ly/2K55toc
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2. Call for Sulphur Deal
The shipping industry’s major trade associations issued a statement calling on IMO to finalize details of the 2020 sulfur cap rollout, and they suggested that port states should take a pragmatic approach to enforcement. The
associations – including BIMCO, ICS, Intercargo, Intertanko and WSC – asked IMO member states to consider suggestions on: a "practical and pragmatic approach", the safety implications; a
draft standard for reporting on fuel oil non-availability; proposals for amendments to MARPOL Annex VI to require sampling points for fuel oil; and verification issues, control mechanism
and actions.
associations – including BIMCO, ICS, Intercargo, Intertanko and WSC – asked IMO member states to consider suggestions on: a "practical and pragmatic approach", the safety implications; a
draft standard for reporting on fuel oil non-availability; proposals for amendments to MARPOL Annex VI to require sampling points for fuel oil; and verification issues, control mechanism
and actions.
https://bit.ly/2K1zPoj
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3. New Player on NASDAQ
Grindrod Shipping Holdings, the shipping business spun out of South Africas Grindrod, began trading on the Nasdaq on Monday. Listed under the ticker GRIN with a net asset value of $320m,
the spin-off was not a capital raise and so initial trading was rather quiet, however the share price was stable at $17. Martyn Wade, chief executive officer of Grindrod Shipping, commented, Grindrod has been involved
in various segments of the shipping and transport industry for more than 100 years. As a separate and independent entity, Grindrod Shipping will be able to pursue a growth strategy focusing only on the shipping business.
the spin-off was not a capital raise and so initial trading was rather quiet, however the share price was stable at $17. Martyn Wade, chief executive officer of Grindrod Shipping, commented, Grindrod has been involved
in various segments of the shipping and transport industry for more than 100 years. As a separate and independent entity, Grindrod Shipping will be able to pursue a growth strategy focusing only on the shipping business.
https://bit.ly/2I1rq2J
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4. Ton Mile Demands
Growing ton-mile demand offers some hope for hard-pressed owners of suezmax and aframax tankers, according to the latest weekly report from Poten & Partners. The New York broker reports that over the first four months of
this year, ton-mile demand for suezmax tankers actually increased by 7% compared to the prior year as suezmaxes performed on average 27.5 more voyages per month. The strongest growth was on the Middle East to India route,
which increased from an average of 28 cargoes per month in 2017 to 39 this year.
this year, ton-mile demand for suezmax tankers actually increased by 7% compared to the prior year as suezmaxes performed on average 27.5 more voyages per month. The strongest growth was on the Middle East to India route,
which increased from an average of 28 cargoes per month in 2017 to 39 this year.
https://bit.ly/2tlpMmS
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5. Ocean Rower Rescue
On Friday, the crew of the Dutch freighter Dolfijngracht rescued ocean rower Niall Macdonald off the coast of Cape Cod after his rowboat began taking on water. At 0030 hours on Friday, Macdonald activated his EPIRB and called
watchstanders at the UK Mission Control Center via satphone to report that his vessel was in distress. He said that after 36 hours in rough seas, his ocean rowboat had taken on water. Macdonald elected to abandon ship onto his inflatable liferaft. UK
Mission Control contacted the U.S. Coast Guard First District based in Boston to relay Macdonald’s message and to coordinate a rescue.
watchstanders at the UK Mission Control Center via satphone to report that his vessel was in distress. He said that after 36 hours in rough seas, his ocean rowboat had taken on water. Macdonald elected to abandon ship onto his inflatable liferaft. UK
Mission Control contacted the U.S. Coast Guard First District based in Boston to relay Macdonald’s message and to coordinate a rescue.
https://bit.ly/2MCsoWo
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6. Limiting Disaster Liability
On August 21, 2017, ten U.S. Navy sailors were killed when watchstanders aboard USS McCain lost situational awareness and collided with the tanker Alnic MC off Singapore. The company that owns the Alnic, Energetic Tank, has filed a lawsuit in New York
Federal Court that seeks to limit its liability for the collision to the value of the vessel and its cargo. The suit seeks protection for Energetic Tank under the U.S. Limited Liability Act of 1851. The law was enacted to spur
investment in America’s early shipping industry, and it limits the liability of shipowners to the value of the vessel in the event of a casualty.
Federal Court that seeks to limit its liability for the collision to the value of the vessel and its cargo. The suit seeks protection for Energetic Tank under the U.S. Limited Liability Act of 1851. The law was enacted to spur
investment in America’s early shipping industry, and it limits the liability of shipowners to the value of the vessel in the event of a casualty.
https://bit.ly/2lgibT0
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7. Cargill Emissions Cut
Cargill Inc aims to cut carbon emissions from its international shipping unit by as much as 15 percent by 2020, to meet U.N. regulations to reduce pollution and demands from some of its food manufacturer customers for more environmentally-friendly operations. The
global commodities trader, which was scheduled to announce the emissions goal late on Monday, told Reuters the reduction of CO2 per cargo-ton-mile was targeted at its time-chartered fleet. But overall, Cargill plans to cut total greenhouse gas emissions on
an absolute basis across all company operations by 10 percent by 2025.
global commodities trader, which was scheduled to announce the emissions goal late on Monday, told Reuters the reduction of CO2 per cargo-ton-mile was targeted at its time-chartered fleet. But overall, Cargill plans to cut total greenhouse gas emissions on
an absolute basis across all company operations by 10 percent by 2025.
https://bit.ly/2tlfkfh
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8. Buyer Orbits Sat Giant
EchoStar Corp. is considering raising its offer for rival Inmarsat Plc after its initial approach for the British satellite company was rejected as being too low, according to people familiar with the matter. EchoStar, founded
by billionaire Charlie Ergen, is discussing financing for an improved offer in the coming days, said the people, who asked not to be identified because the plans are private. EchoStar is working with financial advisers on its bid, the people said. A final
decision hasnt been made, and the U.S. company may decide not to proceed with an offer, they said. Inmarsats U.S.-listed shares rose as much as 9.3%.
by billionaire Charlie Ergen, is discussing financing for an improved offer in the coming days, said the people, who asked not to be identified because the plans are private. EchoStar is working with financial advisers on its bid, the people said. A final
decision hasnt been made, and the U.S. company may decide not to proceed with an offer, they said. Inmarsats U.S.-listed shares rose as much as 9.3%.
https://bit.ly/2tfSUMk
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9. Jail for Bunker Bandits
Nine men face up to 15 years in jail for illegally selling marine fuel at an anchorage in Singapore. The Singapore Police said on Monday the Police Coast Guard had received information that, a foreign registered tugboat
and a Singapore registered vessel were believed to be involved in an illegal sale of MGO (marine gas oil) at the sea of Selat Pauh Anchorage.
and a Singapore registered vessel were believed to be involved in an illegal sale of MGO (marine gas oil) at the sea of Selat Pauh Anchorage.
https://bit.ly/2JQmLq0
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10. Seal Pup Saved
At a recent call at Verbindungshafen in the port of Bremerhaven, the crew of the offshore construction vessel SPS Blue Giant saved a gray seal pup that was about to be jammed between the ship’s hull and a fender. There was a small gap, but the wind was
pushing the vessel closer to the pier. The crew acted swiftly to slacken the mooring rope, and thanks to their quick action, the seal was freed.
pushing the vessel closer to the pier. The crew acted swiftly to slacken the mooring rope, and thanks to their quick action, the seal was freed.
https://bit.ly/2JMyZjn
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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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