InterManager Daily News 04.09.2019.

1. Accident on board Greek ship kills two and injures thirteen
Two deaths and thirteen severe injuries. This is the toll of victims following yet another accident at the shipbreaking beach of Chattogram, Bangladesh. The accident occurred in the afternoon of Saturday 31 August at Ziri Subedar shipbreaking yard. During scrapping operations on the ship CSL VIRGINIA (IMO 9289568) a heavy cable collapsed, hitting several workers at once. Aminul Islam, 35 years old, and Tushar Chakma, 27 years old, lost their lives. Thirteen workers [1] suffered severe injuries and were taken to Chattogram Medical College Hospital for treatment. Following the accident, local authorities ordered the temporary closure of the yard. Investigations are ongoing.

2. GC Rieber Shipping: Claim against GC Rieber Shipping AS and GC Rieber Crewing AS dismissed
Reference is made to the stock exchange announcement 27 April 2018, where it was announced that 17 former employees of GC Rieber Crewing (GCRC), whose employments were terminated when the GC Rieber Shipping Group decided to liquidate the internal crewing company GCRC, had appealed Bergen District Court’s dismissal of their lawsuit against GCRC and GC Rieber Shipping AS (GCRS).

3. REV Ocean Selects V.Ships Leisure As Ship Management Partner For World’s Largest Research And Expedition Vessel
V.Ships Leisure, part of V.Group, has yesterday announced that it will partner with REV Ocean to provide a tailored suite of ship management services for the world’s largest and most advanced research and expedition vessel, scheduled for completion in 2021.

4. Pakistan needs to focus on developing seaports
Logistics and transportation infrastructure in a country not only supports local businesses but also helps in expediting national exports. Especially, the role of seaports is vital in this regard. It is estimated that more than 90% of global trade is facilitated through seaborne shipments. Therefore, the global business success of many countries is directly tied to their investments and management of seaports.

5. Analysts confident in drilling market despite heavy losses
There is money to be made at the world’s major rig companies, although both results and stock prices have been pressured during 2019, according to several analysts. It is only a matter of time before this turns around, Senior Analyst Janne Kvernland of Nordea Markets elaborates to ShippingWatch.

6. Oil fund’s watchdog inquires into Maersk’s Alang beaching
Norway’s sovereign wealth fund has contacted Maersk as part of its critical zoom-in on beaching in Alang, Maersk confirms to ShippingWatch. The fund has previously blacklisted four shipping companies due to their scrapping activities in South Asia.

7. Maersk company takes off in huge rig decommissioning market
Maersk Decom, a cooperation between two Maersk subsidiaries, has just landed what the company calls its first real project, entailing the removal of infrastructure from an oil platform in the UK North Sea.

8. Cosco distances itself from 25,000 teu ship order rumours
An executive from Cosco has denied rumours about the company’s plan to order record-breaking 25,000 teu ultra large containerships at a press conference yesterday. “We are not going to order 25,000 teu ships at the current stage. We have never considered such a newbuilding program,” Wang Haimin, vice president of Cosco Shipping Holdings, said at the company’s interim results press conference yesterday.

9. China Merchants reportedly in discussions for further CMA CGM terminal investments
Bloomberg is reporting that China Merchants Group is looking to invest in more ports owned by French containerline giant CMA CGM. The Chinese company already owns a 49% stake in CMA CGM’s Terminal Link, which it bought for $443m six years ago. Terminal Link has 13 terminals across the world. The French line also has another port subsidiary, CMA Terminals, which has 32 terminals globally either in operation or under construction.

10. Gulf tensions are impacting marine insurance rates … but by how much?
Tensions in the Gulf of Persia continue to rise, with Australia now sending a contingent to join the US-led freedom-of-navigation coalition, which will ensure the safe passage of oil tankers through the Strait of Hormuz. After a summer of attacks on tankers in the region led by Iran, insurance underwriters are increasing war-risk insurance premiums for ships that pass through the Persian Gulf, though the impact on premiums shouldn’t be taken out of context.


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