Seacurus Daily: Top Ten Maritime News Stories 07/08/2018

Seacurus Daily: Top Ten Maritime News Stories 07/08/2018

1. No Deal Outcome Delay
Shipping industry calls for Brexit talks extension amid fears of no-deal outcome. Failing to secure a deal will mean delays and disruption at ports like Dover, Holyhead and Portsmouth, industry warns Representatives
from the shipping industry have called for Brexit talks to be extended to avoid the "disruption" of a no-deal scenario. 
Maritime UK, whose members facilitate 95 per cent of all of the UK’s imports and exports, has urged the government and EU to extend
the Article 50 process if a deal is not agreed by October.

2. When Losses Are Positive
In announcing a first-half loss of $10.3 million, Orient Overseas (International) Limited is positive about the group’s upcoming acquisition by COSCO Shipping. OOIL owns one of the worldÂ’s largest international integrated
container transport businesses, which trades under the name OOCL. As at June 30, 2018, the Group had total liquid assets amounting $2.2 billion and total indebtedness of $4.2 billion.  
On July 13, a joint offer made by
COSCO Shipping and Shanghai International Port to acquire all the shares of OOIL achieved the necessary level of shareholder acceptance to become unconditional.
3.  Blockchain Comes to Life
Progress has been made with 300cubits, the Hong Kong-based container blockchain initiative, which has been marketing its crypto currency called TEU for the last year. The company has revealed that on July 24 its booking deposit
module started operating and a 20 ft dry container from Mitsui Chemical was shipped on a MCC Transport operated boxship heading from Singapore to Keelung in Taiwan. 
The shipper submitted a booking deposit in TEU tokens
and the carrier, owned by Maersk, responded by putting up an equal amount of TEU tokens on the same day.
4. Sewol Unknown Shock
A year-long investigation into the 2014 Sewol ferry disaster has concluded that the cause of the sinking was either problems with the ship or an unknown external shock such as collision with a submarine or other object. According
to the investigation panel, potential ship problems that could have caused the disaster were a sudden turn made by the ship, the excessive cargo loaded and modifications to the ferry that could have affected her stability and buoyancy. The Sewol was carrying
twice her permitted cargo tonnage at the time of the capsize and the crew had reduced ballast to compensate.

5. Battery Power Project Ends
After 15 years of extensive research, project partners Eidesvik Offshore, Wärtsilä Norway and DNV GL have recently announced the closure of the FellowSHIP project. It aimed to explore the use of battery, hybrid and fuel cell technology in the maritime
industry. Â“FellowSHIP has been a productive project,” says Bjørn-Johan Vartdal, Maritime Programme Director for Technology and Research for DNV GL Group. “Its results have shaped our knowledge of battery and hybrid power on board
ships and enabled the industry to implement innovations which will help to enable the next generation of more efficient and sustainable vessels.”

6. UK Club Eyes Rotterdam
UK P&I Club is in the process of setting up a subsidiary in the Dutch port city of Rotterdam to ensure continued access to trade in the European Union in case Britain loses single market access, its chief executive said. Britain
dominates the global marine insurance market and losing access to specialist Protection and Indemnity (P&I) clubs could weaken its multi-billion pound shipping services sector. 
Andrew Taylor, CEO of UK P&I Club, said the
group had visited various places in Europe and opted for the Netherlands, which was best placed for its business model.
7. Hamburg Sud Drug Raid
Colombian authorities have seized more than one ton of cocaine that was discovered inside a container on a ship bound for Europe, the Colombian Navy reported Friday. The
drugs were found following a joint-agency raid of the Singapore-flagged ship Cap San Tainaro in the waters off Barranquilla, Colombia shortly after the vessel departed Cartegena, Colombia bound for Antwerp, Belgium. 
total of fifteen people have been arrested in connection with the incident, the Navy said.

8. New Fleet View for V Group
V.Group, the leading global marine and offshore vessel management and support services provider, announced the launch of its groundbreaking Fleet Cell of the Future, a prototype for the future of technical management and marine support services. This
new operational design rethinks and redesigns the traditional Fleet Cell model, the building block of technical management at V.Group. With market-leading performance design and an open-plan layout based on the latest in ergonomic research, it enables a shift
away from single-user focus to full-team problem-solving.
9.  Water Levels Dropping
Water levels on the Rhine and Danube in Germany remain low as a drought and heatwave continues and freight vessels cannot sail fully loaded on the rivers, traders said on Monday. The Rhine is too shallow for normal sailings
from Duisburg to southern Germany, traders said. All of the German section of the Danube is too shallow for full loads, they said. 
“Vessels are still sailing but are sometimes operating less than half full,” one vessel
broker said. “Water is so shallow in southern sections of the river that some barge owners are unwilling or unable to operate.”
10. Scoprio Loan Spree
Scorpio Bulkers has received a commitment for a loan facility of up to USD 184 million. The loan facility, secured from Nordea AB, acting through its New York branch, and Skandinaviska Enskilda Banken AB, will be used to
finance up to 60% of the fair market value of six Ultramax dry bulk vessels and six Kamsarmax dry bulk vessels. 
The units in question are SBI Athena, SBI Thalia, SBI Zeus, SBI Hera, SBI Poseidon and SBI Apollo, while the
Kamsarmaxes include SBI Conga, SBI Bolero, SBI Sousta, SBI Rock, SBI Reggae and SBI Mazurka.
Daily news feed from Seacurus Ltd – providers of MLC crew insurance solutions
S. Jones
Seacurus Ltd
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Barbican Group,  
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