Allianz says that 75% of shipping insurance losses are caused by human error: miss-labeling, miss-classifying, improper fire-fighting, temperature and stow, etc. Of course, the nature of shipping, as well as the environments in which the industry operates, make casualties more and more common. Ether caused by human error, or by technical failure, vessel accidents have been always hitting the headlines.
“Barges and oil tanker collide in Houston Ship Channel” was the latest one. Such stories are usually human centric while also bring to light ship handling in heavy weather, oil spills, engine breakdowns and/or fire fightings.
2. IMO Special Days
Each year IMO Maritime Days and Special Events are being spread around the world in order to spread awareness on critical issues concerning the industry. For example, the World Maritime Day theme for 2019 has been proclaimed to be "Empowering Women in the Maritime Community” stressing out the importance of gender equality, in line with the United Nations' Sustainable Development Goals, and to the important contribution of women in shipping.
In view of the World Maritime Day, the 3rd International conference on Empowering Women in the Maritime Community at the World Maritime University, Malmö, Sweden brought the attention of media while even more special events being on the agenda as well.
3. Maritime Security Incidents
Sunday, 12 May; International media are sharing the announcement-warning of The United Arab Amirates (UAE), that four oil vessels were “attacked” or “sabotaged” at the mouth of the Persian Gulf near Fujairah Emirate, just outside of the Strait of Hormuz. Almost one week later the event remains the “ talk of the town” being reported by posting updates and discussing the severity of the incident.
The global shipping regulator, IMO, has set the first step in shipping’s quest to become more eco - friendly by heavy regulating the sulphur emissions. Media worldwide are discussing the challenges of changing from heavy oil with a sulfur content of 3.5% to cleaner mixes with 0.5% sulfur in 2020. Besides, according to Drewry, IMO’s 2020 may result to a major carrier bankruptcy.
5. Bankruptcy Scenarios
For instance, the big bankruptcy of the ocean shipping carrier Hanjin hit the headlines back in 2016. The incident along with the recent Aegean Marine bankruptcy this November, verify that financial struggles and mega-huge losses always draw the attention of the readers.
6. Cyber Security Issues
June 2017 was marked by, the non-Petya malware attack to Maersk as part of a national attack. The virus stopped the company’s operations in Rotterdam, Los Angeles, Mumbai, Auckland, and many more ports around the world, going viral both in social and digital media as well as in the news broadcast world wide.
7. Important agreements
Last but not least, vessel sales and purchase agreements generate clicks under the “name recognition”. A good example is the recent ExxonMobil sales and purchase agreement with Zhejiang Provincial Energy Group for liquefied natural gas (LNG) supply. In light of the agreement, Zhejiang Energy is expected to receive 1 million metric tonnes per annum of LNG over 20 years.