News Bulletin – 26 May 2018

1. Maersk-Backed Blockchain Platform for Marine Insurance Launched.

25 May 2018 : A new marine insurance blockchain platform backed by Maersk Group has been launched today to support marine hull insurance. Named Insurwave, the platform has been built by a joint venture between EY and Guardtime and leverages blockchain and distributed ledger technologies Microsoft Azure infrastructure and ACORD data standards.

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2. Number of LNG Bunkering Vessels to Double by 2020

25 May 2018 : The number of LNG bunkering vessels has grown from one at the beginning of 2017 to six in early 2018, with these numbers expected at least to double by 2020, multi-sector industry coalition SEA\LNG said. Furthermore, it is forecast that in the next five years 30 LNG bunker vessels could be operating worldwide.

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3. India, Oman explore a wider maritime partnership

24 May 2018 : India and Oman are exploring greater cooperation in the areas of maritime domain, energy security and the food sector as the two old partners seek to expand their partnership.These were some of the key sectors on the agenda for the recent visit of the Oman India Joint Business Council to India.

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4. JNPT looks to buy out smaller cash-strapped ports to ramp up capacity

24 May 2018 : Jawaharlal Nehru Port Trust (JNPT), the largest container port in India, wants to use its sizeable cash reserves to buy out smaller cash-strapped ports to quickly ramp up capacity. The Mumbai-based port operator has hired a consultant to carry out a feasibility study and identify potential acquisition targets, said Neeraj Bansal, chairman-in-charge, JNPT.

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5. PM Modi expresses pride over all-women Indian Navy crew returning from historic world cruise aboard INSV Tarin

23 May 2018 : The six-member all-women team of the Indian Navy has been cruising the world on their ‘Navika Sagar Parikrama’ mission since September 10, 2017. After braving eight-foot waves, hurricanes, sub-zero temperatures, broken steering gear and spending 194 days at sea, the team has now returned to Goa after circumnavigating the globe aboard Navy’s 56-foot sailing boat, INSV Tarini.

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6. ITF, Nautilus Calling for Increase in Global Seafarer Wage

23 May 2018 : The International Transport Workers’ Federation (ITF) and Nautilus International are to call for a significant rise in the global minimum wage for seafarers – the only internationally-agreed pay floor applied to an entire industry.

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7. America Celebrates National Maritime Day

23 May 2018 : On Tuesday, maritime organizations across America celebrated National Maritime Day, a time to remember those who have served at sea and a time to think of the industry’s future. From coast to coast, port authorities, shipowners, regulators, unions and individual mariners took time to recognize the merchant marine’s contributions to America’s economy and security.

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8. ITF: Abandoned Qaaswa Crew Returns Home after 11 Months

21 May 2018 : The remaining crew members of the abandoned tanker Qaaswa were finally repatriated in late April after spending almost a year off Tunisia. According to the International Transport Workers’ Federation (ITF), the seafarers and their vessel were abandoned in May 2017 by Alco Shipping Services in the SFAX anchorage off Tunisia.

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9.India Ports Global may ease norms for picking operator

21 May 2018 : The spectre of being impacted by the US sanctions on Iran could force Indian firms from bidding on a tender to manage, operate and maintain (MOM) the container and multi-purpose terminals at Chabahar port. This will make it tougher for New Delhi to develop the Iranian port for strategic reasons.

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Categories: News Digest

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