The Round Table of international shipping associations and the Oil Companies International Marine Forum (OCIMF) have issued new advice to merchant ship operators on the areas in the Indian Ocean defined as high-risk.
Marine insurer Skuld has reported that 2018 saw a huge increase in bunker quality disputes, starting around March/April, with bunkers stemmed in Houston and gradually spreading to different regions and countries.
Information is key to good decision making and effective underwriting. We can only identify, assess and price risk if we completely understand our environment, its activities and, importantly, its history. Whilst investment companies continue to recite “past performance is no guarantee of future results”, for underwriters, having a firm handle on past performance is a key ingredient to assessing future risk.
Alliance partner Ocean Network Express (ONE) has declared General Average on Hapag-Lloyd containership Yantian Express (IMO 9229831), which suffered a container fire on 3 January in the North Atlantic while en route to Halifax, Nova Scotia. She is now heading for Freeport in the Bahamas under the control of salvors Smit.
Only a fifth of delegates at HFW’s third annual P&I week, held last October at the legal firm’s London offices, felt that their businesses were nearly or fully prepared preparedness for the emergence of Maritime Autonomous Surface Ships (MASS) technology.
Swedish Club has received 28 reports concerning engine room fires over the past 10 years. When compared with other Hull and Machinery (H&M) claims the frequency of engine room fires was low, but the average cost when they did occur was among the highest – averaging $1.85m per occurrence – compared with $320,000 for H&M claims in general.
In response to the introduction of a 0.5% m/m global cap on the sulphur content of fuel oil on January 1st 2020, Britannia Club has published a new Focus: “Prevention Of Pollution From Ships – Emission Standards”.