Seacurus Daily: Top Ten Maritime News Stories 28/06/2018

Seacurus Daily: Top Ten Maritime News Stories 28/06/2018

1. Maersk Cutting Back
With spot rates on the transpacific to the US West Coast now being banded around for as low as $1,000 per feu, 2M has become the first casualty in the transpacific freight war, just as the summer peak season hoves into view. Alphaliner
is reporting that Maersk and MSC will suspend their Asia to Pacific Northwest route – TP1/Eagle – from July amid overcapacity and declining rates on the transpacific and the ongoing threat posed by a Sino-US trade war.
2. Gas Just a Distraction
LNG has been branded as a “$22bn distraction for EU shipping” that will not decarbonise the sector in a new study carried out for NGO Transport & Environment (T&E) by UK-based consultancy UMAS. The report claims LNG would
deliver, at best, a 6% reduction in ship greenhouse gas emissions by 2050 compared to the replaced existing bunker fuel. 
To date Europe has spent half a billion US dollars on LNG infrastructure for refuelling ships, the
report calculates.
3. New Shipping Index
Norwegian container freight rate benchmarking platform Xeneta has launched its own shipping index, which it claims will transform the way shippers, freight forwarders and carriers conduct freight rate negotiations. The
Xeneta Shipping Index (XSI) allows all parties to set rates at transparent prices that directly follow market fluctuations. 
“After several years working closely with cargo buyers and sellers, the one thing that is a clear
pain point for many organizations is the inefficiency and opacity of contract negotiations,” explained Xeneta CEO Patrik Berglund.
4. Bad Time to Sell
Despite the buzz within the shipping industry surrounding this monthÂ’s announcement that Monaco-headquartered GoodBulk had filed to list in New York, the company has ceased marketing of the IPO citing adverse market conditions. GoodBulk
was looking to list on the Nasdaq Global Select Market, but now says it will “evaluate the timing for the proposed offering as market conditions develop” leaving the door open for the listing in the future. 
Formed in October
2016, GoodBulk has built up a fleet of 25 bulkers including 22 capesizes.
5. Ballast Price War
Now that the enforcement deadline for the Ballast Water Management Convention (BWMC) is drawing near analysts are starting to see very real movement in the market. Manufacturers and suppliers need to shift gears to meet demand, although weÂ’re far from
the peak. The biggest trend is the emergence of a price war between technology manufacturers, driven by the demands of capex-sensitive owners. The reality is that although the message from manufacturers and suppliers is all about
finding the right system, the incoming questions aren’t about applicability or maintenance requirements – they are about price.
6. Remote Tug Operations
Towage operator Kotug conducted what it believes to be the first-ever long distance, remote controlled operation of a tugboat. From a command station set up at a booth at the ITS trade show in Marseille, a Kotug captain took
control of the miniature Rotortug RT Borkum, which was located in Rotterdam. Using a secure internet connection, video camera feeds and a duplicate bridge console, he piloted the tug from a distance of 600 miles away.

7. Panama Ramps Gas
The Panama Canal Authority will ramp up the movement of massive liquefied natural gas tankers through the waterway starting in October, as U.S. exports of the fuel are set to expand. Under the new rules, the ships can traverse
the canal at night, and two at a time can be on Gatun Lake, the man-made waterway at the canalÂ’s north end. The changes will let two tankers move through the canal in different directions at the same time, officials said. The authority will also better identify
“ghost bookings” by companies that reserve slots in advance, then fail to show.
8. Port State Report
ClassNK has released its annual report on Port State Control. The report aims to assist ship operators and management companies in maintaining compliant operations by providing information about ships detained by PSC as well as deficiencies that were found
on board from many port states in 2017. PSC inspections ensure that vessels departing the port meet international standards and have proved to be highly effective in eliminating substandard ships that are in operation. They oversee
not only the hardware of a ship, but also the software by examining the maintenance and operation methods being used.

9. Oil on Rise
Oil rose to a level last seen in late 2014 after U.S. crude stockpiles tumbled by the most since September 2016. Futures rose as much as 3.4 percent in New York on Wednesday. Domestic crude inventories declined by 9.89 million
barrels last week, while refiners boosted oil processing rates and exports soared to a record, the Energy Information Administration said. Oil stored at the key pipeline hub in Cushing, Oklahoma, shrank for a sixth straight week.
10. No Sat Bidding War
FranceÂ’s Eutelsat Communications SA said it wonÂ’t make a takeover offer for Inmarsat Plc, a sudden reversal that strengthens EchoStar Corp.Â’s hand in its pursuit of the British satellite operator. Eutelsat had said on Monday
it might bid for Inmarsat, confirming a report by Bloomberg News. The change of heart means that, under U.K. takeover rules, the Paris-based company now canÂ’t make an offer for six months except in certain circumstances, Eutelsat said Tuesday in a statement.

Daily news feed from Seacurus Ltd – providers of MLC crew insurance solutions
S. Jones
Seacurus Ltd
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