Seacurus Daily: Top Ten Maritime News Stories 29/06/2018

Seacurus Daily: Top Ten Maritime News Stories 29/06/2018

1. New Best Practices Released
International shipping industry organisations, with military support, have launched a new website dedicated to providing comprehensive maritime security guidance to companies and mariners. The new website
provides security-related guidance produced by the industry as well as links to other useful maritime and military security resources. 
The aim is to ease access for companies and seafarers to maritime security related
information and guidance. Central to the website are new best practice guides, including a new "
BMP5: Best Management Practices".
2. Selling Off Assets
China State Shipbuilding Corporation (CSSC) has announced that subsidiary yard Waigaoqiao Shipbuilding plans to sell its 43.4% equity share in CSSC Cruise Technology to its controlling shareholder CSSC Group for RMB400m ($60.3m). Following
the sale, Waigaoqiao Shipbuiding will no longer include the loss making CSSC Cruise Technology in its financial results. 
CSSC Cruise Technology suffered a net loss of RMB36.87m in the year of 2017, and a loss of RMB11.39m
in the first five months of this year.
3. Demand for Fair Pay
Hundreds of seafarers have been on hunger strike at several ports across India demanding a pension scheme and an increase in minimum wages. The protest has been organised by the Forward
SeamanÂ’s Union of India (FSUI), which has sought an increase in the minimum wages paid to serving seafarers and pensions for retired sailors. 
FSUI stated its chief demand is the implementation of the MLC, and the implementation
of a minimum wage. While MLC sets the minimum wage at $614 per month, domestic Indian shipping companies can get away with paying crew as little as $105 per month, FSUI claims.

4. New Vessel Check Powers
A bill is to be debated in Congress that will potentially see the powers of the US Coast Guard ramped up in the wake of the El Faro sinking nearly three years ago. The bill would among other things, require Coast Guard commandant
Admiral Karl Schultz to create a report estimating what it would cost to triple the staff for the Coast GuardÂ’s traveling inspection team. That team double checks vessel surveys. The bill would also require the Coast Guard to post a list of failed inspections
or discrepancies online.
5. Breaching of Sanctions
Japan’s defense ministry reported another suspected ship-to-ship petroleum transfer involving a North Korean vessel in the East China Sea. Under United Nations Security Council sanctions on North Korea over its nuclear program, trading of petroleum products
and other commodities with North Korean entities is forbidden (outside of specific limits).  Japanese forces spotted the blacklisted North Korean tanker Yu Phyong 5 alongside an unknown vessel on June 21 at a position about 215
nm off Shanghai.
6. LA Fears Trade Hit
Tariffs on U.S. imports of Chinese goods imposed by the Trump administration could hit up to 15 percent of goods moving through the Port of Los Angeles once they go into effect, the portÂ’s executive director Gene Seroka told Reuters on Wednesday. Seroka
said in a telephone interview that according to his data, imports from China coming through U.S. ports have slowed over the last two months and are down 3.8 percent in April and 8.7 percent in May.
7.  One’s Nice Little Earner
Leasing the seabed to offshore wind developers was the most profitable business last year for The Crown Estate Ltd., the company that generates income for Queen Elizabeth II. Earnings from the clean-energy technology in 2017
jumped 32 percent from the previous year to 37 million pounds ($49 million), according to a statement. The gain boosted the investorÂ’s energy, minerals and infrastructure portfolio income by 20 percent. 
The U.K. is a world
leader in offshore wind with more turbines in the sea than any other nation. At least one machine was installed every day in 2017.
8. Breaking Market Rebalancing
After a flurry of tanker tonnage being sold for demolition, it seems that the market is trying to rebalance. In its latest weekly note, Clarkson Platou Hellas said that “it would appear that many have taken extended leave from the industry as a very quiet
week has occurred with little activity to report. There remains uncertainty within the market as to the direction we will take and with the Eid holidays finally over, this week should give some resemblance as to market sentiment.
9. Committing to Scrubbers
John Fredriksen’s Frontline has become the latest big name to commit to scrubbers as part of the solution meet the 2020 sulphur buying a 20% stake in Fenn Marine Scrubbers Inc (FSMI). Frontline has entered into a Memorandum
of Agreement to buy 20% stake in FSMI with which Frontline and companies affiliated to Fredriksen’s Heman Holdings have agreed to buy scrubber systems for 14 vessels and a further 22 systems at fixed prices.

10. Sad Loss at Sea
A seafarer on board the LPG Seasuccess died while the ship was underway off the Mexican coast. Â“With much regret we confirm the very sad news that a crew member passed away on board the managed vessel Seasuccess on June 25
off the coast of Mexico,” Greek ship management company Thenamaris confirmed to World Maritime News. 
The 2018-built LPG carrier of 38,000 cbm was heading for Ulsan, Korea, when the incident occurred, based on its AIS data. The
ship was reportedly rerouted to Mexico to disembark the body. 
Initial reports said that the cause of the ill-fated marinerÂ’s death was an asthma attack.

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