Seacurus Daily: Top Ten Maritime News Stories 03/08/2018




Seacurus Daily: Top Ten Maritime News Stories 03/08/2018

1. Ports Taking The Strain
Can the World’s Ports and Terminals Take the Strain as Container Throughput Rises? “Cautious investor sentiment towards greenfield container terminal projects” could lead to steeply increasing box terminal utilisation and a possible decline in port productivity. According
to Drewry’s latest five-year container port demand forecast, volumes are set to increase on average by just under 6% a year. 
This would add 240m teu to global container port throughput by 2022 – 45m teu a year – “broadly
equivalent to the size of the world’s largest container port, Shanghai”.
http://bit.ly/2KnS6f0
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2. Panamaxes Cleaning Up
Two Panamax vessels were observed carrying clean products in July, going through the process of cleaning and switching to the Long Range 1 market in the Americas. The Panamaxes owners are believed to be positioning themselves
for increased ton mile demand and hence higher revenues in the LR1 sector, as large volumes of low-sulfur gas oil need to be moved into position at bunker terminals ahead of the IMO 2020 global 0.5% sulfur bunker mandate. 
The
Talara, owned by Navig8, and the King Dorian, owned by Mercator Navigation, were seen placed on subjects carrying clean products on the US Gulf Coast-trans-Atlantic run. 
http://bit.ly/2KnqC9m
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3. Undelivered Ship Dispute
China Ocean Industry has announced that it intends to settle a shipbuilding dispute regarding undelivered ships by arbitration. Jiangzhou Union Shipbuilding, a subsidiary yard of China
Ocean Industry, has been in negotiations with two shipowners regarding six undelivered vessels. The two owners are believed to be German companies Auberbach Schiffahrt and Briese Schiffahrt, who ordered four multipurpose vessels and two multipurpose vessels
separately at Jiangzhou Union Shipbuilding in 2014.
http://bit.ly/2LMsNsP
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4. DP World Victory
The London Court of International Arbitration (LCIA) has ruled that DP World’s concession agreement for the Doraleh Container Terminal is valid and legally binding, and confirmed that the Djiboutian government’s’s action of seizing control of the terminal
illegal. In February, the government of Djibouti illegally seized control of the Doraleh Container Terminal from DP World, who designed, built and operated the terminal after a concession awarded in 2006. The move follows the
government’s campaign to force DP World to renegotiate the terms of the concession.
http://bit.ly/2n8kKaE
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5. MSC Scrubbing Up
Box shipping giant Mediterranean Shipping Company (MSC) has signed a framework agreement with French bank BNP Paribas and China Export & Credit Insurance Corporation (Sinosure) for the financing of a major scrubber conversion deal. Under
the agreement, MSC will award scrubber conversion work for its containership fleet to a number of shipyards including subsidiary yards of Cosco Shipping Heavy Industry and China Shipbuilding Industry Corporation. BNP Paribas will provide financing support
for the deal while Sinosure will offer export credit insurance services.
http://bit.ly/2MdQnus
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6. Hurricane Seasons Fizzles
The Atlantic hurricane season may have gotten off to an early start this year, but it’ll probably end with a whimper — at least when it comes to the total number of storms. Twelve named storms are likely to form in 2018,
fewer than last year’s 17 and below the 1981-2010 average, according to a forecast Thursday from Colorado State University. That reduces the chance of Gulf of Mexico disruptions for energy and agriculture. But the outlook is a slight increase from July’s 11
and comes as the Atlantic Basin is about to enter its most active period.
http://bit.ly/2nd8vtP
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7. Indian Coastguard Rescue
On Wednesday, the Indian Coast Guard rescued 343 passengers and crew from the ferry Swaraj Dweep after a serious flooding incident.  The vessel had departed Port Blair, South Andaman on Wednesday for Nancowry Island, about
200 nm to the south. She had 250 passengers, 93 crewmembers and containerized cargo on board. During the voyage, flooding began in the number two hold, forward of the deckhouse, and the water rose to a level of five meters (16 feet). The crew’s efforts to
pump it out did not alter the water level. 
http://bit.ly/2vcGzKE
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8. Ship Lives Again
After five years of lying idle, a Chinese-built boxship has been refurbished and is trading again. Alphaliner is reporting the 957 teu Anne, purchased earlier this year by German owner Jens & Waller, is back at work after
a long hiatus. 
Formerly called Tinghir, the ship was the the last unsold container vessel in the fleet of bankrupt Moroccan owner International Maritime Transport Corporation (IMTC). The vessel had been under arrest after
IMTC encountered financial difficulties in 2013.
http://bit.ly/2Mf1TWo
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9. Inmarsat Plotting New Course
Inmarsat talked up its prospects as a standalone company after it rebuffed an approach from EchoStar last month but its shares slipped after a lacklustre performance from its maritime business. The British satellite operator
was able to reiterate guidance as it reported a 5 percent rise in quarterly revenue, driven by demand from airlines and governments. 
Its shares were down 6 percent after the results at 545.2 pence at 1315 GMT, although
they remain well above the levels they were trading at before it rejected EchoStar’s first approach in June.
http://bit.ly/2vw1N5H
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10. Cruise Line Tickled Pink
Miami-based cruise company Royal Caribbean Cruises reported record second quarter results and reaffirmed its full year adjusted EPS guidance. The company’s net income for the second quarter of 2018 surged to USD 466.3 million,
compared to a net income of USD 369.5 million reported in the same period a year earlier. 
The company beat the adjusted earnings per share (EPS) guidance for the second quarter by USD 0.39. “Such
a high level of favorability is unusual" the company said, stating better than expected revenue, performance from the joint ventures and lower than expected expenses w.
http://bit.ly/2ODv5Il
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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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