Safety Regulators Investigating North Sea Spill

By MarEx 2015-10-12 11:30:55

Norway’s Petroleum Safety Authority (PSA) is investigating the oil spill reported by Statoil last week. About 250 barrels of oil was spilled during the loading of oil from Statjord A to the M/T Hilda Knutsen via the OLS loading buoy, which is located between Statfjord A and Statfjord B.

Statoil reported that the spill was caused by a leak located in a flange in the loading hose.

PSA stated: “The Petroleum Safety Authority has resolved to investigate this incident, in part to clarify the course of events and to identify the direct and underlying causes. Issues due to be covered will include the technical condition, maintenance and operation of the offshore loading system.”

In January 2014, Statoil shut down operations at its Statfjord C platform after emergency systems detected an oil leak. More than 250 crewmembers were evacuated to lifeboats.

Statfjord A is one of Statoil’s oldest producing fields, and produces more than 24,000 bpd. Centrica and ExxonMobil are Statoil’s partners in Statfjord A. Production was scheduled to end at the field a few years ago, but in 2013 Statoil, Centrica and Exxon agreed to extend production until 2020.

The entire Statfjord region is produces an average of 80,000 barrels of oil per day.


Passenger Falls off Cruise Ship

By MarEx 2015-10-12 11:28:18

A passenger fell overboard from the P&O Cruises Ventura on October 10 as it returned to Southampton following a two-week Mediterranean journey. The Ventura changed course off the coast of the Isle of Wright at about 3 am local time after the crew received reports that a passenger may have fallen overboard.

UK Coast Guard rescue teams were dispatched soon after and two lifeboats were deployed from Bembridge and Yarmouth, two villages located on the Isle of Wright, as part of response.

Helicopters from Portland, Dorset, and Lee-on-on-the-Solent, Hants, were also been deployed in the search area which is 25 nautical miles south of St. Catherine’s Point on the Isle of Wright.

The Ventura was built in 2008 and there were 3,192 passengers aboard the 956-foot vessel. The Ventura retraced its route before ultimately returning to its homeport of Southampton. The vessel reportedly began another two week cruise late October 11.

Coast Guard officials are continuing to search for the missing passenger.


DSME may face further losses

Daewoo Shipbuilding & Marine Engineering (DSME) could face a further loss of more than KRW1 trillion (USD872 million) in addition to its posted KRW2.3971 trillion loss in the second half of 2015.
The original loss by South Korea’s third largest shipbuilder had been expected after it admitted to

Container rates plummet

Container freight rates fell in August after two months of gains and came close to their 20-month low, according to figures released by UK-based Container Trade Statistics (CTS).
The company’s freight rate index, which covers both spot and contract rates, dropped by two points to 77 in August,

Migrants Suffer Less Hunger than Those Who Stay

By MarEx 2015-10-12 05:23:51

Despite progress in reducing hunger worldwide, hunger levels in 52 of 117 countries in the 2015 Global Hunger Index remain “serious” (44 countries) or “alarming” (8 countries). The Central African Republic, Chad and Zambia had the highest hunger levels in the report, which was released on Monday by the International Food Policy Research Institute, Welthungerhilfe, and Concern Worldwide.

When famine occurs today, it is usually the result of armed conflict. An average of 42,500 people per day fled their homes last year. Approximately 59.5 million people are displaced by conflict worldwide, more than ever before.

Although refugees are more visible, 87 percent of those affected by conflict do not flee their homes and tend to fare worse than those displaced.

“War and conquest have long been the drivers of mass starvation. Although humanitarian responses are far faster and more proficient than in the past, we still need to attend to the perils of armed conflict and inhumane policies generating severe hunger,” said Alex de Waal, author of the report’s essay and executive director of the World Peace Foundation and research professor at Tufts University. “The world has enough food, enough logistics, enough knowledge, to end severe hunger: achieving that is a matter of political will only.”

“More than 80 percent of those affected by armed conflict stay within their countries. They are the ones who suffer most from severe food insecurity,” said Welthungerhilfe president Bärbel Dieckmann. “We need to do more to support these people and to help restore their livelihoods. However, unless we address the root causes of armed conflict, the progress made in reducing hunger will not last.”

The eight countries described as “alarming” include many of the sources of migrants rescued at sea:

Central African Republic




Sierra Leone




Some of the world’s poorest countries could not be included in the report due to unavailable data. As a result, the picture of global hunger is probably worse than reported. Eritreans and Syrians made up half of the migrant traffic to Europe last year, and a 2015 score could not be calculated for Syria, Eritrea or Somalia for example, because data for all underlying indicators were not available.


The report outlined some bright spots in the fight to end world hunger. The level of hunger in developing countries has fallen by 27 percent since 2000, and 17 countries reduced their hunger scores by at least half since 2000. Among those countries are Azerbaijan, Brazil, Croatia, Mongolia, Peru and Venezuela.

Global hunger is a continuing challenge with one in nine people worldwide chronically undernourished and more than one quarter of children too short for their age due to nutritional deficiencies. Nearly half of all child deaths under age five are due to malnutrition, which claims the lives of about 3.1 million children per year.


Between 1870 and 2014, 106 instances of famine and mass starvation each killed 100,000 people or more. Despite a decrease in wars over recent decades, the number of violent conflicts and conflict-related deaths has recently increased from an all-time low in 2006.

“Conflict is development in reverse. Without peace, ending poverty and hunger by 2030 will never be achieved. The time has come for the international community to make conflict prevention, mitigation and resolution a far higher political priority,” said Concern CEO Dominic MacSorley. “Diplomatic muscle and political will is urgently needed in equal measure to prevent the appalling levels of poverty, suffering and horrific brutality that seem commonplace in too many of today’s conflicts.”

The full report is available here.

An interactive map is available here.