From my perspective, one of the biggest challenges we face as global marine insurers is a need to bring in fresh new talent. The gap between the older stalwarts and the young pretenders continues to widen, and that’s worrying. A wave of industry veterans will be retiring over the next decade and replacements must be found.
Netherlands-based MPP owner ForestWave Navigation has said that general cargo vessel FWN Rapide (IMO 9320520) was attacked by pirates early on April 21st, prior to entering Port Harcourt in Nigeria, with many of the crew being taken hostage.
A pro-active approach to cargo sampling on tankers could save millions of dollars in claims, as well as preventing delays, said Gard in a recent “Insight”. Disputes relating to “off-spec” or contaminated liquid cargoes were a recurring problem, the insurer said, noting that shipowners might have no independent evidence as to the cause of an alleged cargo contamination. “The source of the problem could be in the shore tank at the load port, in the shore pipeline during loading or on board the vessel itself. The cargo could even have been manufactured out of specification prior to delivery to the terminal for shipment”, Gard observed.
UK-based insurance technology company Concirrus has linked with consultancy EY in an initiative which Concirrus claimed would "accelerate the adoption of behavioural-based underwriting and risk management in marine insurance".
BIMCO has said that, although the recent US tariffs on steel and aluminium would have a limited impact on most international bulk trades, they could trigger something bigger that would negatively impact global shipping in a much wider way.