Seacurus Daily: Top Ten Maritime News Stories 21/08/2018

Seacurus Daily: Top Ten Maritime News Stories 21/08/2018

1. Banning Its Own Ships
The Italian government refused to allow one of its own coast guard cutters to enter an Italian port after the ship rescued nearly 200 maritime migrants. Italy’s transport ministry relented on Monday and said that it would
permit the vessel to dock at Catania, Sicily, but the interior ministry signaled that it would still not allow the migrants aboard to disembark. Th
e crew of the Diciotti rescued 190 migrants from an overloaded boat about
15 nm off the island Lampedusa, within Maltese waters. 13 individuals needed emergency treatment and were medevaced to shore, but 177 remained on board.
2. Clearly Showing The Way
Digitalisation is throwing up daily challenges to the shipping industryÂ’s established order with faster connectivity and enhanced functionality driving the transparency of information flow. Shipping is embracing this effect
– and cautiously welcoming the disrupters too – and speed of adoption is quickening. What is still developing is how to apply this thinking to a traditional business-to-business market where the speed of technology adoption needs to fit market cycles. 
the advocates of smart shipping have recognised is that product-oriented organisations cannot adhere to 20th century business models, apparently.
3.  New Blockchain Start-Up
Chinese blockchain startup Yuanben has signed a blockchain technical service cooperation agreement with Maritime Silk Road Platform to provide blockchain services for the global maritime sector. The
Maritime Silk Road is an online public booking platform established by Zhuozhi Logistics Group. 
According to the agreement, the blockchain technology will be used to provide node deployment, digital content deposit certificates,
and a search interface for cargo tracking. 
“This cooperation is a successful example of the combination of emerging blockchain technology and traditional information management system technology.
4. Drillship Champing at Bitt
Drillship owner Pacific Drilling has announced that its reorganisation plan now has the full support of the companyÂ’s majority shareholder Quantum Pacific. The company now expects a smooth confirmation process and a quick
emergence from chapter 11. 
At the end of July, Pacific Drilling announced the reorganisation plan based on a proposal presented to the company by a group of secured creditors. The company raise $1.5bn of new capital, with
Quantum Pacific committed to injecting at $250m. 
Under the Plan, existing holders of Pacific Drilling common shares would receive no recovery.
5. Rates and Turkish Chaos
Rising Asia to Med freight rates might not last long as economic crisis engulfs Turkey, EuropeÂ’s fifth largest importer of goods from Asia, according to DrewryÂ’s latest weekly insight. As explained, the Asia to Europe trade
lane has experienced difficulties this year, but the weakness was largely confined to the North Europe region in the early months as Mediterranean imports from Asia surged ahead by nearly 7% in the first quarter. 
that malaise has now spread with the Med barely showing any growth in the second quarter. The chances of an immediate upturn look slim as a significant chunk of demand drops.
6. New Way to Fuel
A.P. Moller – Maersk and Royal Vopak have agreed to launch a 0.5 percent sulfur bunkering facility in Rotterdam – a first joint initiative that will cater for around 20 percent of Maersk’s global demand. The new facility,
at Vopak Terminal Europoort, will enable A.P. Moller – Maersk to deliver approximately 2.3mt of compliant fuel per year. 
As an anchor tenant in the modified facilities, Maersk and other interested third parties will be
able to bunker the fuel while trading with and inside Europe.  
The project is expected to be completed in the second half year of 2019.
7. New Princess Announced
Princess Cruises will name its fifth Royal-Class ship Enchanted Princess. The vessel is scheduled to debut on June 15, 2020 sailing on a series of European voyages, and her arrival will be followed by the debut of the line’s
sixth Royal-Class vessel in 2022.  
Construction of the 143,700gt, 3,660-passenger Enchanted Princess will take place in the  Fincantieri Monfalcone shipyard with the ship set to feature an evolution of the design platform
used for the cruise line’s previous Royal-Class ships. She will accommodate 3,660 guests and 1,346 crew. 
Enchanted Princess is a sister ship to four other Royal-Class ships in the fleet.
8. Ready to Deepen Mississippi
A plan to deepen the Mississippi River Ship Channel to 50 feet, equal to that of the Panama Canal, has received the key backing of the US Army Corps of Engineers. A report by Corps of Engineers Director of Civil Works James
C. Dalton stated the project was “economically justified and environmentally sustainable” and recommended approval of funding for the deepening of the channel. The deepening of the Mississippi ship channel would be the first port complex on the US East Coast
to offer a draught of 50 feet, and equal the depth of the Panama Canal.

9.  Dubai on the Rise
Dubai has scored a new milestone in its bid to cement its leadership in the international maritime sector after it was selected as one of the worldÂ’s top five in the International Shipping Centre Development Index (ISCD). Backed by legal and legislative
excellence, Dubai is known for its advanced infrastructure, world-class maritime and logistics capabilities, a competitive environment conducive to trade, business and investment, and innovative free zones that match the worldÂ’s best. According to a recent
report by the London-based Baltic Exchange and the Xinhua News Agency, Dubai has overtaken Hamburg.
10. Crew Goes Overboard
The U.S. Navy reported Monday that it is once again engaged in a search and rescue effort for a missing sailor in the Pacific theatre, less than two weeks after a marine went missing from the amphib USS Essex in the Sulu Sea.  At
about 0700 hours local time Sunday, a sailor aboard the cruiser USS Lake Erie failed to report for duty. The crew conducted several extensive searches of the vessel but could not locate the individual, and the ship initiated man-overboard procedures.  
Lake Erie was under way in the Eastern Pacific at the time of the incident as part of the USS John C. Stennis Carrier Strike Group.

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