Seacurus Daily: Top Ten Maritime News Stories 14/10/2016
1. Hanjin Shares Leap
Shares in Hanjin Shipping surged by as much as 25% after the indebted firm announced that it was beginning the process to sell its US assets. In a regulatory filing, Hanjin said it would look for letters of intent from buyers by the end of the month. According to the Reuters news agency, the spokesman for the Seoul Central District Court said the deadline for binding bids was expected to be 7 November. Before the bankruptcy, Hanjin was the world’s seventh-largest container line and had been unprofitable for four of the past five years.
———————————————————————————
2. IMO Under Emissions Pressure
A range of shipping organizations are putting pressure on IMO to act on air emissions ahead of the Marine Environmental Committee Meeting (MEPC 70) to be held October 24–28. The meeting is scheduled to discuss policy measures for the shipping sector in terms of CO2 reduction and whether or not to postpone the global 0.5 percent sulfur cap planned for 2020. The European Port group ESPO believes that the deadline of 2020 for introducing a global cap of 0.5 percent sulfur content in marine fuels must be maintained to align the IMO timing with the E.U.’s Sulfur Directive timing.
———————————————————————————
3. Guide to Seafarer Trauma
A new publication Managing Traumatic Stress – Guidance for Maritime Organisations aims to provide top-level guidance to senior management to help improve the mental health of seafarers. It offers education and evidence-based approaches specifically designed for the maritime industry. The guidance is authored by Professor Neil Greenberg, Managing Director of March on Stress and Professor of Defence Mental Health at King’s College London. “Better mental health support for maritime not only provides moral benefits, there are also legal and financial benefits to organizations who focus on supporting their most important asset".
———————————————————————————
4. Some Cautious Optimism
Dryad Maritime said that there is cause for cautious optimism regarding maritime crime and piracy, with the latest Q3 numbers showing a significant reduction of activity in hotspot regions: the Gulf of Guinea, Southeast Asia and the high risk area off Somalia all saw a marked decline in reported crime over the last three months. In Southeast Asia, leaving out the Abu Sayyaf kidnappings in the Sulu Sea, maritime crime is at its lowest levels in seven years, due in no small part to a law enforcement campaign in the Straits of Malacca and Singapore. However, the threat from Abu Sayyaf in the Sulu Sea appears to remain.
———————————————————————————
5. DP World Invests in Future
Los Angeles-based company Hyperloop One, which is developing technology for a futuristic transit system, said it had raised an additional $50 million as it prepares for a full-scale test of a Hyperloop system in the first quarter of 2017. A Hyperloop involves using magnets to levitate pods inside an airless tube, creating conditions in which the floating pods could shuttle people and cargo at speeds of up to 750 mph (1,200 kph). The system has been likened to a mix between the Concorde plane, a rail gun and an air-hockey table. The concept originated in a paper by Tesla Motors Chief Executive Elon Musk in 2013.
———————————————————————————
6. Genco Chairman Steps Down
Peter Georgiopoulos has resigned as chairman and a director of NYSE-listed Genco Shipping & Trading Limited. No reason was given for his departure. Arthur L Regan, one of Genco’s current directors, has been appointed as interim executive chairman of the board. Peter Kirchof has also announced his intention to step from down from Genco’s board, on which he represents one of Genco’s largest shareholders, Strategic Value Partners. Genco said it will consider qualified candidates to replace Kirchof on the board, including a candidate from Strategic Value Partners.
———————————————————————————
7. Navy Criticised for Collision
The U.K.’s Marine Accident Investigation Branch (MAIB) has criticised the Royal Navy for its lack of participation in the investigation into the collision between a dived submarine and the trawler "Karen" in the Irish Sea in April last year. On April 15, 2015, a submarine snagged the fishing gear of the U.K. trawler Karen, east of Ardglass, Northern Ireland. Karen was towed backwards and had partially submerged before being released from the submarine when the trawl warps gave way. The submarine did not surface to render immediate assistance as evidence of the collision on board was either ignored or misinterpreted.
———————————————————————————
8. Providing Support to Grieving Crew
Crew have received support from seafarers’ charity Apostleship of the Sea (AoS) after a Port of London pilot died while boarding their vessel in Gravesend Reach, England. Pilot Gordon Coates was killed last Wednesday night at around 6.10pm (local time) while boarding the general cargo vessel "Sunmi". The ship is operated by Norway’s Misje Rederi. The ship’s Russian crew received support from AoS’s Tilbury and Thames port chaplain Wojciech Holub, who visited the ship on the night of the accident and the morning after. “They were disturbed and deeply saddened as a result of the accident,” said Holub.
———————————————————————————
9. Peel Readies Liverpool 2
The UK-based Peel Ports Group has welcomed the latest batch of cantilever rail-mounted gantry (CRMG) cranes, ready for installing and commissioning at the Liverpool2 deep-water container terminal which is scheduled for official opening in November. The six cranes sailed up the Mersey on October 6.
Built by Chinese crane manufacturer Shanghai Zhenhua Heavy Industry Co. (ZPMC), the new cranes complete the set of twelve required for phase 1 of the Liverpool2 development project. Ultimately, the site will have eight ship-to-shore (STS) and 22 CRMG cranes as part of a USD 122.5 million investment.
———————————————————————————
10. Indian Box Ports Shine
Container volumes at major Indian Ports increased by 6.32 percent year-over-year in the first fiscal half through September, a sign that productivity and capacity improvements via the Government’s Sagar Mala investments are beginning to produce results. The newest statistics show the ports together handled 4.35 million 20-foot-equivalent units in the first half, up from 4.09 million TEUs a year earlier. Of that, Jawaharlal Nehru Port Trust accounted for 2.26 million TEUs, up 0.8 percent from 2.24 million TEUs during April to September 2015, representing more than 50 percent of India’s total containerized traffic via Major Ports.
———————————————————————————
Daily news feed from Seacurus Ltd – providers of MLC crew insurance solutions www.seacurus.com
Best regards,
S Jones
Seacurus Ltd
Registered in England No. 5201529
Authorised and regulated by the Financial Conduct Authority
A Barbican Group company
Telephone: +44 191 4690859
Facsimile: +44 191 4067577
Email: [email protected]
Website: www.seacurus.com
Registered Office: Suite 3, Level 3,
Baltic Place West, Baltic Place,
South Shore Road,
Gateshead,
NE8 3BA,
United Kingdom
This message, and any associated files, are intended only for the use of the individual or entity to which it was addresses and may contain information that is confidential, subject to copyright or constitutes a trade secret. If you are not the intended recipient you are hereby notified that any dissemination, copying or distribution of this message, or files associated with this message, is strictly prohibited. If you have received this message in error, please notify us immediately.
