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Group Reinsurance Rates 2018/2019

The arrangements for the renewal of the International Group General Excess of Loss (GXL) reinsurance contract and the Hydra reinsurance programmes for 2018/19 have now been finalized. These include the Collective Overspill Cover, Excess War Risks P&I cover and MLC cover. For 2018 Group Reinsurance rates per GT will be as follows: Category 2018 rate per GT % change from 2017 DIRTY TANKERS $0.5845 % – 1.85 CLEAN TANKERS $0.2626 % – 1.83 DRY CARGO VESSELS $0.4038 % – 1.85 PASSENGER VESSELS $3.2707 % – 1.84 This represents a reduction ...

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Stowaways In South African Ports

Loss Prevention The Association wishes to remind Members of the potential for an increase in stowaways trying to gain access to vessels in South African ports during the holiday period. It is understood that illegal persons in the country are perhaps trying to secure their travel home at substantial costs to the shipowners and P&I Clubs. Members are reminded of the previous bulletin and which the Association has repeated in this notification, namely, the loss prevention/mitigation measures that should be adopted when a vessel calls a South African port. The ...

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Brazil Reintroduces Strict Bill Of Lading Regulations

For a few years it has been not a requirement in Brazil to surrender the B/L when taking delivery of cargo, but this requirement has now been reinstated and we are grateful to Brazil P&I for having provided the following advice: Customs’ regulations of each country usually make varied demands with regards to Bills of Lading (B/L) contents, presentation etc.. In Brazil, an article of Decree no. 6759/2009 establishes that the import declaration must be delivered with the original copy of the B/L or document having equivalent effect, or exceptions ...

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Brazilian appeal court recognises Liberian ship mortgage

On 16 November 2017, the Superior Court of Justice (SCJ), Brazil’s highest court (in respect of non-constitutional claims) recognised a Liberian ship mortgage involving an FPSO (i.e. a floating, production, storage and offloading vessel) located offshore Brazil. The SCJ reversed the Appeals’ Court decision which had adopted a narrower approach and refused to recognise the validity of the Liberian mortgage on the grounds that (1) it had not been registered with the Brazilian Maritime Registry and (2) Liberia is not a signatory to any international convention pursuant to which Brazil ...

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Skuld Enhances US Strategy With Senior Appointment

Skuld today announces the appointment of Rachael Simpson as senior vice president, London P&I Operations. Simpson’s primary focus will be on business development in North America, reflecting Skuld’s strengthened commitment to this market. She will report to Matthew Burton, head of London P&I, and assumes her new role in March 2018. Simpson brings more than 20 years’ P&I experience to Skuld. She will join from Steamship Mutual where she is the underwriting manager for its American business. Prior to this, Simpson has held increasingly senior broking roles at Aon, Benfield ...

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Insurance Presentation for the Chios Marine Club

It is with pleasure and some pride that SM Sigma Maritime Technical Consultants announce the high-profile presentation entitled “The Insurance Perspective of Marine Disasters” that took place earlier this month. The event was organized by The Chios Marine Club in the warm and friendly atmosphere of the Angelicoussis Group Auditorium on November 1st 2017. It was sponsored by SM Sigma Maritime Technical Consultants and presented by The Swedish Club Greece. The keynote speaker, Mr. Stelios Magkanaris, Fellow of the Association of Average Adjusters, provided an overview of the applicable policies ...

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High and Lows of Port Risk: TT Club Provides Guidance

Speaking at October’s Mediterranean Ports Conference in Barcelona, Dorota Jilli, a Senior Underwriter at TT Club, outlined the insurer’s broad approach to the risks presented in the port environment, borne out of the benefit of TT Club’s vast experience of providing cover to a large variety of port authorities and terminal operators around the globe. Apart from assessing the differing business models and activities, the Club also carries out detailed analysis of historical claims of all types including property, liability and bodily injury, in order to provide effective advice on ...

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Unmanned and autonomous vessels – the legal implications from a P&I perspective

Unmanned and autonomous vessels are a hot topic in the shipping industry at present but whilst rapid advances are being made on the technical side, is the liability regime keeping pace and what are the implications for P&I cover? Distinguishing unmanned and autonomous vessels To begin with, it is important to draw a distinction between unmanned and autonomous vessels. For the purposes of this article, unmanned vessels (UVs) are defined as vessels without crew on board but which are controlled remotely from the shore. Whereas, autonomous vessels (ASVs) are pre-programmed ...

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Libya – port situation

There have been no further changes to the working status of Libyan ports since the closing of Tobruk port and the opening of Benghazi commercial port in October 2017. Port situation According to information received from Gard’s correspondent Gargoum Legal Marine, the port situation in Libya as at 8 December 2017 is reported to be as follows: Working: Farwah, Bouri, Melittah, Zawia, Tripoli, Al Khoms, Misurata, Es Sider, Ras Lanuf, Marsa El Brega, Zuetina, Benghazi and Marsa El Hariga Closed: Sirte, Derna and Tobruk According to the correspondent, all working ...

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Nortrader explosion safety lessons

The MAIB has released a summary of the findings into two explosions onboard a cargo vessel called Nortrader. The explosions were caused by an accumulation of hydrogen gas emitted by the cargo Nortrader was carrying. The likely source of ignition was later identified as the emergency fire pump starter panel; the emergency fire pump was being tested at the time of the explosion. One crewmember was injured by the explosion and the vessel suffered damage and was out of service for several months. What is remarkable about this incident is ...

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Limited Recognition of Foreign Maritime liens in Australia

Factual background The “Sam Hawk” was owned and registered in Hong Kong, under Greek management, and operated by a Swiss company. It was under time charter to Egyptian Bulk Carriers (‘EBC’). EBC contracted with Reiter Petroleum for the provision of bunkers at Istanbul. The supply of bunkers was subject to Reiter’s general terms and conditions, which required that the contract was to be construed according to the law of Canada, However there was a further term that Reiter was permitted to assert a lien wherever it finds the vessel, and ...

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Zero Percent General Increase Marks The Swedish Club’s 145th Anniversary

At its Board Meeting yesterday, The Swedish Club marked the 145th anniversary of the inaugural meeting of The Swedish Steam Ship Insurance Association, where the Club, internationally known today as The Swedish Club, was officially formed. The Club confirmed at the Board Meeting its long term commitment to its members with the announcement of a zero percent general increase in P&I for the third year running, demonstrating the value of the Club’s continuing balanced approach in a competitive market. Lars Rhodin, Managing Director of The Swedish Club told Board members: ...

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TT Talk – Terrorism & the supply chain, what exposure?

The concept of terrorism is thought to date back to the 18th Century. Indeed, the word ‘terrorism’ is understood to have entered into European languages in the wake of the French revolution of 1789. Further definitions or categorisations are hardly necessary since so many parts of the globe have been exposed to terrorist incidents. Recent terrorist incidents have been less geographically discriminate. Whilst arguably in certain jurisdictions terrorism has a higher profile through media influence, in the 21st Century terrorism is a truly global challenge. With the primary aspiration of ...

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Marine insurance and accidents in the Netherlands

Insurance Mandatory coverage What maritime risks must be covered under the law and what is the mandatory level of coverage? Pursuant to the Nairobi International Convention on the Removal of Wrecks 2007, wreck removal coverage must be obtained for ships in excess of 300 gross tonnes. The Bunker Oil Pollution Convention 2001 and Article 8:645 of the Civil Code require ships in excess of 1,000 gross tonnes to have insurance or other financial security to cover the risk of bunker oil pollution. For ships carrying more than 2,000 tonnes of ...

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North P&I Club Celebrates 10 Years Making Waves In Singapore

Leading marine insurer North P&I Club celebrated the tenth anniversary of its office in Singapore with a reception in Duxton Hill, attended by shipowners and representatives of the Singaporean and Asia-Pacific shipping community. The Club’s Singapore office has expanded to 17 staff over the past decade, providing P&I, freight, demurrage and defence (FD&D) claims, and loss prevention services that complement its additional Asia-Pacific offices in Hong Kong and China, as well as Japan, where North observed its fifth anniversary in Tokyo this year. Together these offices serve the needs of ...

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