Seacurus Daily: Top Ten Maritime News Stories 24/12/2018
1. Money Go Round
Describing 2018 as a âyear of extremesâ for the tanker trades, brokers Gibson note that this year has marked the highest number of tanker demolitions over the past 15 years. All in all, more than 150 tankers above 25,000 dwt have been sent to the recycling yards, with weak industry returns and attractive scrap prices offering a strong impetus to scrap. Gibson noted in its most recent weekly report the market has seen lower than expected number of new additions: over 25% of the tanker orderbook scheduled for delivery in 2018 has slipped into next year.
2. Japanese Money Ball
Japanese owners boast the worldâs largest orderbook, according to data from Clarksons Research. While the Asian nation might be behind market leader Greece and neighbour China in terms of its existing fleet, Japanâs orderbook is by far the largest in the world, more than 40% bigger than Greeceâs. With data available from December 1, Japan has 25.2m gt on order, equivalent to 15% of its extent fleet. China has the second largest orderbook, with 20.5m gt on order while Greece, which has led the world when it comes to S&P for the last couple of years, is in third spot with 17.5m gt.
3. Calls on Europe
The Global Shippers Forum (GSF has called upon the European Commission to revoke and replace the Consortia Block Exemption Regulation (BER). The European Commission is currently determining whether to extend the BER for a further five-year period from April 2020 with four shipowning bodies coming together last week to put their case forward for extending the BER. James Hookham, GSF secretary general, commented: âGSF has joined the worldwide shipping community in calling for the European Commission to not renew the BER.â
4. US Shake Up
U.S. President Donald Trump is forcing Defence Secretary James Mattis to leave on January 1. General Mattis, 68, submitted his resignation last week and had offered to stay until February 28. He will be replaced by Deputy Defence Secretary Patrick Shanahan. Shanahan, a former executive at Boeing, joined the Pentagon in July 2017 after Trump nominated him. He is reportedly a supporter of Trump’s plan to establish a space force.
5. Hey Big Spenders
VesselsValue’s Senior Analyst Court Smith gives a rundown on which countries have splashed the most cash on second hand vessel purchases over 2018: The biggest buyer in 2018 of second hand vessels is the Greek company Star Bulk Carriers. The vessels involved in the 2018 transactions were valued at just under $1 billion on the day of sale. Star Bulk have acquired vessels from a variety of sources: six capesize bulkers in a part share and part cash deals from ER Schiffahrt, 15 more bulkers from Songa Bulk with $145 million cash plus 13.7m shares
6. Letâs Save Seafarers
There can be few shipboard accidents as readily avoidable as those associated with enclosed space entry. Deaths and injuries that follow such incidents are dreadful and made worse because they often stem from recurring circumstances, which are highly preventable. Often seafarers know what they should do; if asked about enclosed spaces, most crew members would be able to recognise the dangers and describe correct entry procedures, but when it comes to applying that knowledge in an emergency situation, they often act differently.
7. SOS SBS
25 Royal Navy Marines from the Special Boat Service’s X Squadron abseiled on to the Grande Tema from helicopters on Friday night and arrested the four stowaways that had threatened the crew. No one was injured as they regained control of the 236-meter (774-foot) ro-ro container ship around midnight on Friday. The onboard operation lasted about 25 minutes and took place about 14 hours after the Service was called in to help. The stowaways had demanded that the crew of the Grimaldi Lines vessel take them to the U.K coast. They have now been detained, and the vessel has sailed to the port of Tilbury.
8. What a Load of Scrap
Oil tanker owners scrapped a record number of ships this year. Those who did missed out on a sharp rally in rates. Owners purged a record 100 of the industryâs main crude carriers so far, with most of that happening in the first half of the year, according to data from Clarkson Research Services Ltd., part of the worldâs biggest shipbroker. Thatâs no surprise, as up to September the vessels â which transport roughly 40 percent of the worldâs crude â were on course for the worst average earnings in at least three decades.
9. Scrubbers Lead Charge
Theyâre large, theyâre expensive and theyâre increasingly controversial. Scrubbers, a type of exhaust filter installed in ships, have been hailed by some as the key to efforts by the industry to comply with new pollution regulations due in 2020. Yet ports and shipping companies are starting to question their credentials when compared with cleaner fuel, and environmental organizations have warned they may enable shippers to dodge obligations to move on from dirty fuel.
10. Armed Ship Raid
On Dec 22 armed militants boarded Libyan Aframax crude oil tanker BADR anchored off Burgas, Bulgaria, Black sea. They identified themselves as law enforcement officers, hit the Captain, threatened crew and Captain with arms, and took control over tanker, they said, that the crew will be repatriated to Libya, while tanker will be handed over to BULGARGEOMIN Company Bulgaria, understood after claim and some not clarified commercial disputes. Owner of tanker, Libyan General National Maritime Transport Company, already stated protest, and are awaiting official protest from Libyan Government.
Daily news feed from Seacurus Ltd â providers of MLC crew insurance solutions www.seacurus.com