International News

According to a new market research “Marine Propellers Market by Number of Blades (3, 4, 5), Type (Controllable Pitch Propeller and Fixed Pitch Propeller), Application (Ship-Defense and Merchant, Boat-Inboard Engine and Outboard Engine, Underwater Vehicles-Submarine and Unmanned), Material (Aluminum, Bronze and Stainless Steel) – Global Forecasts, Trends & Analysis to 2014 – 2020”, the marine propeller market is estimated to be valued $3.67 Billion by the end of 2015. It is projected grow to $5.94 Billion by 2020 at a CAGR of 10.07%. The key challenge faced by the marine propeller market is that the life cycle of a propeller is fairly high and hence replacement occurs after considerable amount of time.

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A small coastal tanker is hijacked by pirates in South East Asia every two weeks on average, a report from the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) has revealed.

South East Asia accounts for 55% of the world’s 54 piracy and armed robbery incidents since the start of 2015. After a steady drop in global piracy over the last few years, attacks rose 10% in the first quarter of 2015 on the same period of 2014. Worldwide, pirates took 140 hostages in the first three months of 2015, three times as many as during the same period in 2014. A total of 13 seafarers were assaulted and three injured.

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An excellent standard of seamanship is more difficult to achieve and maintain against the issues of reduced sea time, accelerated promotion and little opportunity to practise. This was the message at the launch of the 12th edition of The Admiralty Manual of Seamanship, authored by the Royal Navy and published by The Nautical Institute.

“Seamanship issues between navy and merchant service are not very different these days,” said Captain Robert McCabe FNI, President of the Institute. “Cuts to both services mean that ancillary staff, including cooks and stewards, find themselves part of the mooring party with less training than the able seaman. For the officers in charge, the emphasis in training is on technology and weapons rather than seamanship.

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Shipping losses continued their long-term downward trend with 75 reported worldwide in 2014, making it the safest year in shipping for 10 years, according to Allianz Global Corporate & Specialty SE’s (AGCS) third annual Safety and Shipping Review 2015, which analyses reported shipping losses of over 100 gross tons.

Losses declined by 32% compared with the previous year and were well below the 10-year loss average of 127. Since 2005 shipping losses have declined by 50%. More than a third of 2014’s total losses were in two maritime regions. South China, Indo China, Indonesia and the Philippines (17 ships) and Japan, Korea and North China (12 ships). Cargo and fishing vessels accounted for over 50% of all losses.

The most common cause of total losses is foundering (sinking/submerging), accounting for 65% of losses in 2014 (49). With 13 ships wrecked or stranded, grounding was the second most common cause with fires/explosions third, but significantly down year-on-year.

Continue reading “Shipping losses lowest for 10 years but cyber attacks pose new threats”