• 2020 September 26 11:02

    IUMI: Loss prevention remains a vital element in ensuring the insurability of maritime risk

    The International Union of Marine Insurance’s (IUMI) two-week online conference continued on September 24 with a comprehensive loss prevention workshop chaired by Uwe-Peter Schieder, from German Insurance Association, GDV and Mariella Dauphinee from Intact Insurance Company.

    Both were keen to highlight the role of loss prevention managers and their role in identifying, quantifying and mitigating risk as an enabler of the underwriting process. Schieder explained:

    “Risk is inherent within the marine sector and the profile changes as our industry evolves. It is the job of the loss prevention manager to be aware of these changes and to identify how the associated risk has altered. Before a risk can be priced, it must first be fully understood in terms of its likely impact and also the measures that might be implemented to lessen that impact.”

    Schieder highlighted a number of issues that IUMI is currently debating:

    Autonomous shipping is not a new concept. Various on-board systems and processes have been operating autonomously for a number of years and these have been adequately covered by underwriters. However, the growing practice of increasing the amount of autonomy onboard and bringing them together as a single and fully autonomous vessel is a reality that underwriters must continue to manage carefully.
    The silk-road connecting Asia with Europe is an ancient concept but the resurgence of this route by China and partners as part of the One Belt, One Road initiative will impact heavily on marine insurance. New cargo centres, new stations and new transport modes will all generate a new series of risks that will require careful scrutiny.
    The availability of data is nothing new but the emergence of digitalisation and big data will significantly change the overall risk profile – perhaps for the better. Loss prevention managers will need to investigate and react to this change, advising their underwriters at the same time.
    The trend towards electric vehicles and the inclusion of lithium-ion batteries is a further example. When conventional vehicles are transported by sea, efforts are made to ensure their fuel tanks are as empty as possible. Similarly, to reduce risk, some commentators are suggesting that electric powered vehicles should discharge their batteries to 25% or less. This is achievable when moving vehicles in PCTCs but less realistic for domestic cars being transported by commercial ferry. Fires resulting from these batteries are becoming more commonplace and on-board fire-fighting is challenging. Loss prevention teams must advise their clients and their underwriting colleagues accordingly.

    Schieder continued:

    “Many of the issues we currently face are new variations on old themes. The role of IUMI’s Loss Prevention Committee is to bring together a group of experts from across all marine business lines and all geographies to share knowledge and best practice. By doing this, we raise awareness of changing risk-related issues and, as an industry, work together to implement the optimum mitigation measures and best practice.” 

2020 October 26

14:52 RF Prime Minister approves list of checkpoints that can be crossed by foreigners with e-visas
14:31 Ocean Network Express to launch new intra Asia service
14:03 Port of Helsinki passenger traffic down 53.9% to 4.1 million in Jan-Sept 2020
13:06 Passenger turnover in Russian ports plunged by 73.9% in 9M’2020
12:59 ICS welcomes legally binding agreement to significantly improve the carbon efficiency of shipping
12:37 Delo Group and Russian Railways signed Agreement on cooperation in organization of rail container transportation
11:59 Stena Bulk branded class for tanker personnel opened at Admiral Makarov SUMIS
11:58 The Ocean Cleanup introduces first product made with ocean plastic pollution
11:30 NIBULON ranks first among Ukrainian shipyards
10:31 EMA and Keppel jointly awarded a research grant to pilot Singapore’s first floating Energy Storage System
10:15 Admiralteiskie Verfi shipyard delivered diesel-electric submarine Volkhov to RF Navy
09:50 MABUX: Bunker Market this morning, Oct 26
09:26 Oil market starts week with decreasing prices
09:09 Baltic Dry Index as of October 23

2020 October 25

15:27 USCG: Oil spill cleanup of Delaware Bay coastline continues
14:53 Richmond Council to host first public meeting with Hammersmith Bridge Taskforce
14:38 Deep water berth extension at Port of Halifax fully operational
13:27 Gothenburg Port Authority's Elvir Dzanic named as a member of Electrification Commission
12:43 Maritime NZ welcomes report to MPI
12:18 Oil spill response equipment and vessel rates in Singapore
11:04 GPA holds first virtual State of the Port

2020 October 24

15:47 Ocean transport of the first lot of railway coach to Myanmar completed
14:51 OOCL announces services changes and enhancements on Asia-Europe trade
13:28 Port Authority launches new campaign against litter
12:41 Hapag-Lloyd announces Ocean Tariff rates on East Asia - NEC and Mediterranean trade
11:06 CSD Hussein Tantawy successfully launched at IHC's shipyard in The Netherlands

2020 October 23

18:09 Baltic Data Flows: New HELCOM project seeks to harmonize and harvest environmental data at a pan-Baltic level
17:47 ICS welcomes legally binding agreement to significantly improve carbon efficiency of shipping
17:10 Anti-submarine ship Vice-Admiral Kulakov completes its business call to Greece
16:32 Bollinger Shipyards delivers 41ST fast response cutter to the U.S. Coast Guard
16:05 APM Terminals Poti signs a contract with Poti New Terminals Corporation for the development of dry bulk facility in the Poti Sea Port
15:31 HySHIP project clinches EUR 8M funding award
15:13 Krasnoye Sormovo shipyard launches dry cargo carrier Alfa Mercury
14:50 Self-propelled crane built for RF Navy’s Pacific Fleet arrived in Vladivostok having passed the Northern Sea Route
14:25 Equinor changes chief financial officer
14:06 Membrane technologies of GTT is an optimal solution for gas carriers, LNG bunkering and storage
13:23 MarineMax participates in the Fort Lauderdale International Boat Show
13:05 Wärtsilä selected to power new ‘super ferries’ series for P&O Ferries
12:55 An agreement made to explore the possibilities of green hydrogen export from Iceland to Rotterdam
12:04 Tallink Silja AB is forced to issue redundancy notice to Swedish crew members
11:41 Tallink to become the first shipping company to receive Sustainable Travel Finland label
11:09 Austal to further expand Australia support business through acquisition of BSE Maritime Solutions
10:53 NYK to make Gazocean a wholly owned subsidiary
10:19 Bunker market sees slight change of prices in the Port of Saint-Petersburg, Russia (graph)
09:55 National Gas Vehicle Association to propose priority measures for LNG bunkering support
09:33 Oil prices continue decreasing
09:18 Baltic Dry Index as of October 22
08:49 MABUX: Bunker market this morning, Oct 23
08:19 CMA CGM announces GRR from Asia to West Africa

2020 October 22

19:00 “K”Line online training for seafarers obtained DNV GL certification
18:04 Milaha reports QR 384 million in net profit for the nine months of 2020
17:41 Port of Los Angeles receives $9.9 million infrastructure development grant
17:36 Feasibility report on ship repair cluster development in Arkhangelsk Region to be completed in November 2020
17:29 MABUX releases weekly review of bunker market
17:05 Gothenburg Port Authority CEO becomes the member of newly established Electrification Commission
16:44 ABP’s ports in East Anglia keep agricultural products moving
16:14 ONE adds new service from Asia to Indian Subcontinent
15:50 Bunker prices are flat in the Far East ports of Russia (graph)
15:34 EU awards funding to Kapellskär-Naantali Maritime Bridge environmental initiative
15:04 Environmental Protection Agency signs a proposed rule for reducing the environmental impact of discharges