Seacurus Daily: Top Ten Maritime News Stories 27/09/2018
1. Maersk Tackles Dangerous Goods
After a thorough review of current safety practices and policies in the stowage of dangerous cargo, Maersk has now completed implementation of new guidelines to improve safety across its container vessel fleet. Following the deadly fire aboard the 15,000 teu Maersk Honam in March this year, Maersk took measures and implemented additional preliminary guidelines for stowage of dangerous goods. The company evaluated over 3,000 UN numbers of hazardous materials in order to further understand and improve dangerous cargo stowage onboard container vessels and developed a new set of principles.
2. IMO Looks Back on Success
The IMO is celebrating the 70th annual World Maritime Day. The day’s theme for this year is “IMO 70: Our Heritage â Better Shipping for a Better Future.” 70 years â¦an international conference in Geneva adopted a convention establishing the Inter-Governmental Maritime Consultative Organization, or IMCO. This body began its work in 1958, and two years later it adopted its first major treaty, SOLAS 1960. Many other landmark regulatory achievements followed, including MARPOL and the STCW Convention. The organization’s name was changed to the International Maritime Organization in 1982.
3. Shipping Slow on Digital
The maritime industry has usually been slower when it comes to transformation. However in recent years, the digitalisation and automation of its supply chain has significantly changed shipping from the inside. Disruptive technologies are expected to take centre stage even more in the coming years to make improvements on issues of capacity, data integrity, connectivity and standardisation. For example, only last month Maersk and IBM introduced their global blockchain solution TradeLens with 94 organisations participating.
4. Volatility The Norm
Volatility and uncertainty are not necessarily what insurance executives want, yet for Paul Jennings, CEO of the North P&I Club, this is the new normal for businesses the world over, something that has required much adaptability in recent years. âBusinesses across the globe are having to adapt to volatility and uncertainty as a way of life and North P&I is no different. An uncertain international economic outlook driven by Brexit and President Trumpâs tariffs, combined with an ever-widening range of commercial threats continue to test even the strongest organisations. Businesses are now facing a variety of challenges.
5. Mini Bulker Pool Created
NovaAlgoma Short Sea Carriers, a joint venture of Algoma Central Corporation and Nova Marine Holdings SA, and Peter DÃ¶hle Schiffahrts-KG have announced the creation of DNA Shipping, a commercial agreement to pursue consolidation and growth within the multi-purpose project vessel and 13,500 to 15,000 mini-grabber dry-bulk markets. The new entity will result in the creation of the largest mini-grabber pool in the world. The multipurpose vessels will be managed by Peter Dohleâs existing commercial management in Hamburg while the bulkers will be managed from the NASC commercial office in Lugano.
6. MOL Tests AI
Japanese shipping group MOL has tested an artificial intelligence (A.I.) system aimed at improving safe watch keeping on board a ferry operating in one of Japanâs busiest waterways. The test of the so-called Intelligence Awareness System was conducted in collaboration with Rolls-Royce Marine using the Sunflower car and passenger ferry. The ferry, which is operated by Ferry Sunflower Co., which is part of MOL, serves Japanâs Seto Inland Sea route. MOL said the aim of the project is to conduct research related to the advancement of watch keeping from the bridge.
7. Strict on Sulphur
The person charged with overseeing controversial new rules on shipping fuel says heâs growing increasingly confident the regulations will be implemented on time, and that the vast majority of vessel owners will comply. From Jan. 1, 2020, most of the merchant fleet will have to burn fuel containing less sulfur than it does today under rules set out by the International Maritime Organization, part of the United Nations. Thereâs been some speculation that the regulations might get delayed, since theyâre expected to affect everything from oil prices to world trade. The IMOâs not budging.
8. Piraeus Makes Big Profit
The BoD of PPA S.A. approved the financial statements for the first semester of 2018, according to which the basic figures are the following: The turnover amounted to â¬ 63.5 million, which compared to the same period of 2017 (â¬ 52.0 million) increased by â¬ 11.5 million or 22.1%. This change is mainly due to the significant increase in revenue from the concession agreement of Pier II+III (+29.5%), container terminal sector (+20.1%), car terminal sector (+29.7%), as well as ship repairing sector (+48.3%).
9. Looking at Executive Roles
Many executives found a safe port during the tough times, and while it did not always fulfil their career ambitions, it did provide shelter. In the sectors where there are signs of the market improving, executives are emerging into the sunlight, dusting off their CV’s and considering their options. With many shipping and maritime executives not having had a pay rise in some years, bonuses that have been underwhelming at best, long-term incentives that are underwater and organisations mostly still defensive in their remuneration strategy, it is no wonder that many executives are not feeling the love! http://bit.ly/2Q5G6lu
10. Scrubber Longevity Questioned
The use of scrubbers will not last for more than ten years because the high acidity of the wash-water is a challenge for the integrity of the installation, Dragos Rauta, Technical Director at Intertanko, said in a report. Rauta pointed out that even with less than eighteen months to go before the new sulphur cap is enforced, there are still not many viable solutions for the long-run. âOther than clean fuel, I do not see many other potential long-term solutions that the industry can implement for the sulphur cap. Most of the solutions can work in the short-run but will not be sustainable,â he said.
Daily news feed from Seacurus Ltd â providers of MLC crew insurance solutions www.seacurus.com