InterManager Daily News 16.08.2021

1. Grounding of Wood-Chip Carrier Crimson Polaris off Hachinohe
Crimson Polaris, a dedicated wood-chip carrier chartered by NYK, was swept away by a strong wind while anchored and resultantly ran aground off Hachinohe in Aomori prefecture at around 7:35 am (JST) on August 11. Afterward, a portion of the ship’s wood-chip cargo was lost from the damaged part of the hull, NYK is currently confirming the amount of cargo and the impact on the sea area at the site. Fortunately, no oil pollution has occurred. All crew members have been evacuated from the ship with the cooperation of the Japan Coast Guard, and those seafarers have been confirmed to be safe.

2. Low vaccination rate among seafarers, suggests Neptune Indicator
Covid-19 vaccinations of seafarers are critical in solving the crew change crisis. Hence, as of August 2021, the Neptune Declaration Crew Change Indicator has been expanded to include the aggregate percentage of seafarers who have been vaccinated. Data from August shows that only 15.3% of seafarers have been vaccinated. In comparison, the share of the population fully vaccinated against Covid-19 in large shipping nations in Europe, North America and Asia is at around 50%. This shows that despite progress in seafarer vaccinations, their rates are much behind those of large shipping nations.

3. International safety rules for High Speed Craft brought into force
International rules on safety levels for High Speed Craft (HSC) are being brought into force under UK law.
The regulations bring three main changes – additional safety drills and record keeping, opening-up the satellite providers’ market which should reduce costs and introducing an automatic update to any future changes internationally covering HSC.
Vessels covered include such craft as fast ferries and cataraman.

4. Flawed implementation of International Laws leaves seafarers in legal vacuum
The consequences of port closures during the COVID-19 pandemic have highlighted flaws in the implementation of international law designed to protect the human rights of those at sea, according to a study by Dr Sofia Galani, Senior Lecturer in Public International Law at the University of Bristol and Human Rights at Sea Advisory Board member.

5. Maritime security and the Security Council
Within the past two weeks the United Nations Security Council held two debates on maritime security. One was a discussion on August 6th of the recent incident in the Gulf of Oman, the drone attack on the MV Mercer Street that had two crew killed. A major open debate on maritime security was held three days later. The Council has been pro-active in maritime security for a while, in particular, in order to address piracy off the coast of Somalia and in the Gulf of Guinea. Yet, the new debates prove that the Council increases its awareness for maritime matters. There are at least five lessons for the maritime industry.

6. Seanergy looks to buy back $17m of shares
Greek capesize owner Seanergy Maritime is looking to repurchase up to $17m of its outstanding common shares, representing around 10% of the company’s market cap. The Nasdaq-listed firm’s board of directors has approved a share repurchase plan, boosting the price by some 10% in just two days.

7. Cyber Security Threats Challenge International Shipping Industry
The crippling ransomware attack against the Colonial oil pipeline in the U.S. in May 2021 should be a wake up call for the maritime industry. As a critical part of the global supply chain, the shipping industry could become an attractive target for cyber criminals and politically motivated attacks. Marine insurer Allianz Global Corporate & Specialty explores these challenges in its latest Safety & Shipping Review 2021.

8. Scorpio Tankers President Robert Bugbee Continues to Binge on STNG Call Options
Robert Bugbee, the well-known President of NYSE-listed Scorpio Tankers (NYSE: STNG), spent another $465,000 on STNG call options on Wednesday, bringing his weekly total to more than $3.6 million across three transactions. Bugbee has been an active buyer of STNG call options since the second half of 2019 and has continued buying throughout the pandemic. Year-to-date, company disclosures indicate he has spent over $9.1 million across 10 transactions.

9. Strong Vessel Demand Propels Baltic Index To Highest In Over A Decade
The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, jumped to its highest level in over a decade on Thursday, powered by strong demand across vessels segments. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, jumped about 3% or 93 points at 3,503, the highest level since mid-2010.

10. Hapag-Lloyd Achieves Very Good Result In First Half Year Of 2021
Hapag-Lloyd published its figures for the first half year of 2021 today. It concluded with an EBITDA of USD 4.2 billion (EUR 3.5 billion). The EBIT rose to USD 3.5 billion (EUR 2.9 billion), and the Group profit climbed to USD 3.3 billion (EUR 2.7 billion). “In a market with very strong demand for container transports, we have benefitted from significantly improved freight rates and look back on a very good first half year. Among other things, we were able to reduce our net debt by USD 1.5 billion, although we paid out a significantly higher dividend compared to the prior year,” said Rolf Habben Jansen, CEO of Hapag-Lloyd.


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