Seacurus Daily: Top Ten Maritime News Stories 06/05/2015
1. Vessel Seized for Unpaid Bunkers
Dubai-based Prima Marine FZE has said it has arrested the bulk carrier "m/v Jo Jin Maru" and is seeking to recover $550,000 over an unpaid bunker bill. It is understood the 2012-build 98,000 DWT bulk carrier was arrested Tuesday in Newcastle, Australia, with a filing indicating the warrant of arrest was issued on Monday May 4, 2015. Prima Marine says it is seeking $258,339 for unpaid bunkers that were supplied on March 9, 2015 in Fuzhou, China, plus $291,661 in other charges. The party responsible for buying the bunkers was named as Seoul, South Korea-based sub-charterer SW Shipping Co Ltd (SW Shipping).
2. New Ferry Service to Cuba Beckons
The U.S. Treasury Department on Tuesday approved licenses for passenger ferry service between the United States and Cuba, a Treasury Department official told Reuters. One of the licenses was issued to Baja Ferries, part of a major shipping group with passengers and cargo operations, including on Mexico’s west coast, according to a lawyer who handled the license application. Ferry services between Cuba and the United States were cut off in the early 1960s, following the Cuban revolution that brought Fidel Castro to power. “The ships are ready to go,” said Robert Muse, a Washington-based lawyer who represented Baja Ferries.
3. Warning of Piracy Resurgence
United Nation and Somalia fishing officials have warned resurgence of Somalia Piracy should the illegal fishing from foreign nationals continues. Somali Piracy initially started their activity to defend illegal foreigners from Somalia waters whom they said had encroached Somalia territory. Ahmed Mohamed Iman , General Director of Ministry for Fisheries said Piracy in Somalia is on its weakest point but the recent increase of illegal fishing is threatening to reverse Piracy. “The ever increasing illegal fishing may gave room for Pirates “, said the Director.
4. Stranded Seafarers Finally Sent Home
Fourteen Indian soldiers, who were stranded on board an oil tanker off the coast of Bahrain since December last year have finally left for home, media reports said on Tuesday. They were among the 16-member crew of Mongolian vessel MT Surya Kuber, which was banned from leaving the country because its Singapore-based owner 7Seas Ship Management allegedly owed Arab Shipbuilding and Repair Yard (ASRY) and Kanoo Shipping more than $220,000, Gulf Daily News reported. The Indians left for home on Monday night on tickets paid for by the Indian embassy in Bahrain, but without their outstanding wages.
5. New Software for Clocking Ship Speeds
Classification agency ClassNK has introduced a new software called PrimeShip-GREEN/ProSTA to analyse and calculate a ship’s speed trial. Results can be used to calculate the energy-efficiency design index (EEDI) in compliance with the latest International Maritime Organization (IMO) guidelines. In its guidelines on survey and certification of the EEDI, the IMO has provided two methods to avoid the effects of external factors during sea trials and deliver a way to analyse and calculate a ship’s speed in calm sea conditions. The software helps ship designers calculate the vessel’s speed to meet the ISO 15016: 2015 standard.
6. OSG Set to Return
Overseas Shipholding Group, one of the world’s largest tanker operators, is planning a return to the New York Stock Exchange less than a year after exiting Chapter 11 bankruptcy, according to reports. On Monday, the company filed with the SEC plans to raise up to $100 million in an initial public offering. The news was first reported by the IPO specialist firm Renaissance Capital. OSG exited Chapter 11 in August 2014 as a newly reorganized company, with two term loan facilities and two revolving loan facilities totalling $1.35 billion. OSG had its delisted from the New York Stock Exchange after voluntarily filing for bankruptcy protection.
7. Vessels Meeting 2020 Mark
A new CE Delft study has revealed that many recently constructed ships already meet the IMO’s design efficiency standard for 2020, indicating that there is significant room for tightening these standards when the IMO meets next week, European environmental lobby group Transport & Environment said. The study calculated the Estimated Index Values (EIVs) of new ships built between 2009 and 2014. Of the ships in the study that were built in 2014 some 34% of containerships and 43% of general cargo ships also met the EEDI target for 2030.
8. Tanker Market Hotting Up
The VLCC market is thriving as major market players announce impressive earnings for the first quarter of 2015. According to a weekly report by Poten & Partners, the VLCC market is “firing on all cylinders” and set to continue this trend into the second half of the year. So far for 2015 VLCC rates have averaged between a high of around $80,000 to a low slightly under $50,000, which considerably outpaces last year’s averages. Euronav and DHT, whose fleet largely consist of VLCCs, have reported “stellar earnings” for this year amid the strong market.
9. Rig Accident Kills Workers
Mexican oil company Pemex said an accident on Tuesday has left an offshore maintenance rig in the southern Bay of Campeche listing, killing two workers, but has not affected crude production. Pemex said the Troll Solution rig, which was contracted to operate in Pemex’s Abkatun-Pol-Chuc shallow water oil field, was positioning itself to carry out maintenance on wells linked to the Caan Alf platform. Local media put the injured toll at 28 workers. A spokesperson added that there was no oil or gas spilled as a nearby well was closed prior to the incident. Pemex said around 100 workers were evacuated.
10. Panama Canal Tolls Set for Changes
Panama’s Cabinet has officially approved a proposal to modify the Panama Canal tolls structure, following a recommendation from the Panama Canal Authority (ACP) Board of Directors. The newly approved toll adjustments for all market segments are scheduled to enter into effect on 1 April 2016. The accepted proposal, which modifies the pricing structure for most canal segments, will better facilitate the canal’s goal of providing outstanding service and reliability to the global shipping while allowing the ACP to safeguard the competitiveness of the waterway, ACP said in a statement.
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