Seacurus Daily: Top Ten Maritime News Stories 19/10/2018
1. Greeks Fear Deadline
The Union of Greek Shipowners (UGS) has warned that tramp shipping remains at risk come the January 1, 2020 introduction of the global sulphur cap. The boss of the world’s largest national shipowning association has also cast doubt on the effectiveness of scrubbers to meet the goals set out by the impending IMO legislation. We cannot turn a blind eye to the uncertainties regarding the availability and supply of MARPOL compliant fuels which are also SOLAS compliant, safe, fit-for-purpose and available worldwide, particularly in the bulk/tramp sector, the president of the UGS, Theodore Veniamis said.
2. IMO Leads UN Plan
The 73rd meeting of the Marine Environment Protection Committee (MEPC) will take place at the IMO next week and pressure is building to deliver some concrete commitments to decarbonise the industry. The gathering will be the first United Nations multilateral meeting to address climate change since the high profile International Panel on Climate Change (IPCC) special report published last week, which highlighted the devastating consequences of failing to achieve the goals of the Paris Agreement, and that global warming of 2°C or more will not be safe for any country.
3. CMA CGM Pilot Slammed
The UK’s Marine Accident Incident Branch (MAIB) has released its report into one of the most high profile accidents of 2017. At 11.37 on May 4 last year, the UK registered container ship CMA CGM Centaurus made heavy contact with the quay and two shore cranes while under pilotage during its arrival at Jebel Ali in the United Arab Emirates. The accident resulted in the collapse of a shore crane and 10 injuries, including one serious injury, to shore personnel. The MAIB report states that the accident occurred because the ship was unable to attain a sufficiently high rate of turn into a basin in preparation for berthing. http://bit.ly/2CrY2Do
4. Container Ponzi Scheme
The first creditors’ meeting concerning the insolvency of the German shipping container lessor P&R took place in Munich yesterday, in which it emerged the leasor sold around 1m containers that actually did not exist, making the scam one of the largest economic scandals in German post-war history.
Based in Grünwald near Munich, P&R sold new and used containers to investors, rented them back and offered to repurchase them after five years for 65% of the original value. In total, P&R claimed it had sold some 1.6m containers to around 54,000 investors for a total EUR3.5bn euros ($4.12bn).
5. Port Environmental Report
The European Sea Ports Organisation (ESPO) has released its annual Environmental Report which includes member ports’ top 10 environmental priorities for 2018. Air quality has remained the top priority of the European ports since 2013. An increasing interest in relationships with local community, in position 4 of the list, demonstrates that air quality has been increasingly a concern for citizens of port cities and urban areas.
6. Dry Bulk Surge
Panamax dry bulk vessel rates have surged 18% over the past month to near five-year highs amid strong Pacific coal transportation demand and a lingering Chinese appetite for Brazilian soybeans, participants said on Wednesday. The Baltic Panamax Index was last assessed at 1,793 points, a level not breached since December 2013. Coal activity in the Pacific continues to be very high, particularly for shipments to China and India, said an analyst with a large European shipbroking firm.
7. Oil on Riviera Beaches
Some of France’s spectacular Riviera beaches have been shut as volunteers with shovels and sacks try to rid the coastline of a thick oily residue that washed ashore after two ships collided off Corsica earlier in October. The clean-up operation is taking place on beaches in the glitzy resort of Saint-Tropez, where pristine waters and mountainous backdrops draw tycoons and A-list celebrities. Last year it was forest fires, now the pollution is coming from the sea, said Roland Bruno, a local mayor. In spite of our misfortune, at least it’s happened in October, when the tourist season is behind us.
8. Box Ship In Trouble
Liberia-flagged Panamax containership MSC Arushi R. got into trouble on Wednesday, October 17, while underway on the Western Scheldt, near Hansweert, Netherlands. The ship suffered a mechanical failure while en route from Antwerp to Wilhelmshaven, in Germany. The ship was held in place with the assistance of tugs before being anchored. Images above show the ship waiting for the high tide and being turned around at approximately 1.p.m., local time, with the help of tugs. Later in the afternoon the ship was put under tow and started sailing toward Vilssingen.
9. Standard Backs From Lloyd’s
The world’s fourth largest P&I club is withdrawing from underwriting at Lloyd’s from 2019. The Standard Club had established a syndicate in 2015 to underwrite marine and energy risks. It represented one strand of the club’s broadly-based strategy to provide its members with a wider range of insurance covers. The club said it in press release that remains committed to these strategic aims but it has concluded that current overcapacity and a weak pricing environment have made Lloyd’s a challenging environment for it to develop a profitable underwriting business with sufficient scale.
10. Must Do More on Cyber
The global maritime industry must do more to protect shipping firms against growing cyber-security threats, experts said yesterday at the opening of a maritime innovation centre. An important first step is to create awareness and encourage the reporting of incidents, said Mr Mark Milford, vice-president in charge of cyber security at Finnish technology firm Wartsila. There is a reluctance to report because of (the fear) of reputation damage, he told The Straits Times, as the firm marked the official opening of its Acceleration Centre in Singapore. The centre contains a cyber-security offshoot.
Daily news feed from Seacurus Ltd – providers of MLC crew insurance solutions www.seacurus.com