Seacurus Daily: Top Ten Maritime News Stories 23/07/2018
1. Slavery Report Released
The 2018 Global Slavery Index has been released confirming that modern slavery is a crime that affects all countries globally, including, perhaps surprisingly, highly developed countries. The
Index, produced by the Walk Free Foundation and the International Labour Organization (ILO), together with the International Organization for Migration (IOM), starts by saying: It is a confronting reality that even in the present day, men, women and children
all over the world remain victims of modern slavery. Over 40 million men, women, and children worldwide are trapped in modern slavery, around 25 million in forced labor.
Index, produced by the Walk Free Foundation and the International Labour Organization (ILO), together with the International Organization for Migration (IOM), starts by saying: It is a confronting reality that even in the present day, men, women and children
all over the world remain victims of modern slavery. Over 40 million men, women, and children worldwide are trapped in modern slavery, around 25 million in forced labor.
https://bit.ly/2O9rMbJ
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2. Ageing Broker Deals Fail
Brokers are reporting multiple accounts of ageing bulker deals falling through in the last 10 days thanks to an impending new piece of Chinese legislation. There are plenty of accounts cropping up where deals are falling
through and deposits are being forfeited due to many buyers being unable to register their ships in time for a new September 1 deadline issued by Beijing. Buyers in China cannot import ships for domestic trades unless
they are at least Tier II compliant, built in 2011 or later or retrofitted.
through and deposits are being forfeited due to many buyers being unable to register their ships in time for a new September 1 deadline issued by Beijing. Buyers in China cannot import ships for domestic trades unless
they are at least Tier II compliant, built in 2011 or later or retrofitted.
https://bit.ly/2mzXrq5
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3. Government Takes Blame
A South Korean court on Thursday acknowledged for the first time the governments liability for the 2014 sinking of the Sewol ferry, which killed 304 people, mainly school children, and ordered it to compensate victims families. A
botched rescue and the toll of children in one of Asias most technically advanced economies shocked and angered South Koreans, and the administration of former President Park Geun-hye was the focus of much of the ire. The
ferry was structurally unsound, overloaded and traveling too fast on a turn when it capsized off the southwest coast on April 16, 2014, investigators have said.
botched rescue and the toll of children in one of Asias most technically advanced economies shocked and angered South Koreans, and the administration of former President Park Geun-hye was the focus of much of the ire. The
ferry was structurally unsound, overloaded and traveling too fast on a turn when it capsized off the southwest coast on April 16, 2014, investigators have said.
https://bit.ly/2A0KiQn
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4. Where Are Prices Going?
Where will newbuild prices go through to next year? Its one of shippings perennial $64bn questions. Get it right, and you could be reading the shipping cycle perfectly. Get it wrong and you could be out of business. In an ongoing poll for Splash, roughly
four-fifths of readers think newbuild prices will continue to rise over the coming 18 months, although by how much is keenly debated. Newbuilding prices have been on an upward trajectory over the last 12 months, driven by the
interplay between a rising orderbook, shipyard consolidation, rising dry bulk freight rates and a hike in construction costs.
four-fifths of readers think newbuild prices will continue to rise over the coming 18 months, although by how much is keenly debated. Newbuilding prices have been on an upward trajectory over the last 12 months, driven by the
interplay between a rising orderbook, shipyard consolidation, rising dry bulk freight rates and a hike in construction costs.
https://bit.ly/2uD83Jl
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5. Acquisition Deal Abandoned
Norways Wilhelmsen has abandoned its $400m acquisition of US firm Drew Marine Technical Solutions after a US District of Columbia court granted a Federal Trade Commission (FTC) motion for an injunction to block the deal. Wilhelmsen
and Drew have agreed to abandon the transaction, initiated in April 2017, and settled on a termination fee of $20m.
and Drew have agreed to abandon the transaction, initiated in April 2017, and settled on a termination fee of $20m.
https://bit.ly/2mECOsJ
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6. Shipowner Ban Celebrated
The International Transport Workers Federation (ITF) has applauded the recent decision taken by Australian authorities to ban a Chinese bulker from calling Down Under for 12 months, saying such stringent measures could stamp out cases of crew neglect.
The Australian Maritime Safety Authority (AMSA) had banned the Hong Kong-flagged bulk carrier Shandong Hai Wang for one year from Australian waters after it was discovered that crew had been deliberately underpaid. The ITF
welcomes the action by the AMSA, saying it is the kind of enforcement that seafarers deserve from all authorities in all countries at all times.
The Australian Maritime Safety Authority (AMSA) had banned the Hong Kong-flagged bulk carrier Shandong Hai Wang for one year from Australian waters after it was discovered that crew had been deliberately underpaid. The ITF
welcomes the action by the AMSA, saying it is the kind of enforcement that seafarers deserve from all authorities in all countries at all times.
https://bit.ly/2O8ykas
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7. Is Art of Seafaring Dying?
Ships are safer, and they are certainly a great deal more comfortable for those who make their livings aboard them. Much less cargo gets damaged, and much less filth goes into the sea, per million ton miles, than ever before. The
danger arises when people go through the procedure, but do not think about what they are doing. I recall a scene from my own childhood in which my little brother, about to cross a road, said, out loud, Look right, look left. Look right again without doing
any such thing, and, still looking straight ahead, stepped into the path of an oncoming truck.
danger arises when people go through the procedure, but do not think about what they are doing. I recall a scene from my own childhood in which my little brother, about to cross a road, said, out loud, Look right, look left. Look right again without doing
any such thing, and, still looking straight ahead, stepped into the path of an oncoming truck.
https://bit.ly/2O8vHFD
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8. Evasive Action Confusion
The Australian Transport Safety Bureau has released the final investigation report into the collision between the container ship Beijing Bridge and fishing vessel Saxon Onward noting that the container ship’s evasive action actually increased the risk
of collision. The incident occurred in the Tasman Sea, when Beijing Bridge was en route to Melbourne. There were no injuries or pollution reported by either vessel. The fishing vessel suffered substantial damage to its hull
but was able to make its way unassisted to a nearby port. The container ship resumed its passage and berthed in Melbourne later the same day.
of collision. The incident occurred in the Tasman Sea, when Beijing Bridge was en route to Melbourne. There were no injuries or pollution reported by either vessel. The fishing vessel suffered substantial damage to its hull
but was able to make its way unassisted to a nearby port. The container ship resumed its passage and berthed in Melbourne later the same day.
https://bit.ly/2OaTlkU
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9. Duck Death Toll Rises
Divers on Friday recovered the last of the bodies from the wreckage of a duck boat that sank on Thursday during a storm on a Missouri lake, counting among the 17 who died nine members of a single family. The World War Two-style
amphibious vehicle was carrying 31 passengers including children when a microburst storm hit Table Rock Lake outside Branson, raising waves that battered the vessel and ultimately caused it to capsize. More than three
dozen people have died in incidents involving duck boats on land and water in the United States over the past two decades.
amphibious vehicle was carrying 31 passengers including children when a microburst storm hit Table Rock Lake outside Branson, raising waves that battered the vessel and ultimately caused it to capsize. More than three
dozen people have died in incidents involving duck boats on land and water in the United States over the past two decades.
https://bit.ly/2A1UyYB
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10. Climate Lawsuit Dismissed
The U.S. District Court for the Southern District of New York has dismissed the climate change lawsuit filed against Chevron Corporation by the City of New York. The decision follows California, which dismissed substantively
identical complaints that the same plaintiffs lawyers had filed against Chevron on behalf of the cities of San Francisco and Oakland. The court decision addresses a lawsuit filed by the City of New York City against BP,
Chevron, Conoco-Phillips, ExxonMobil and Royal Dutch Shell that seeks to hold the oil and gas companies responsible for potential future damage to the city from climate change.
identical complaints that the same plaintiffs lawyers had filed against Chevron on behalf of the cities of San Francisco and Oakland. The court decision addresses a lawsuit filed by the City of New York City against BP,
Chevron, Conoco-Phillips, ExxonMobil and Royal Dutch Shell that seeks to hold the oil and gas companies responsible for potential future damage to the city from climate change.
https://bit.ly/2LeyiQC
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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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