Gas exposure claims one life On 31 August, an accident occurred at IŞIKSAN ship recycling yard in İzmir, Aliağa during the dismantling operations of the Bideford Dolphin, a Bermuda-flagged floating oil platform formerly owned by Fred Olsen & Co. The incident took place onboard the offshore unit, leading to the exposure of multiple workers to gas. According to information gathered by the NGO Shipbreaking Platform, four workers were directly affected by the gas exposure. Tragically, one of them, İbrahim Karakaya, lost his life. The other three workers were discharged from ...

Bulkers and combination carriers loading high-density bulk cargoes in Brazil must undergo a vetting regime following maritime authority standards. Correspondent Proinde brings us updates below: All bulk carriers and combined ore-oil or ore-bulk-oil (OBO) carriers aged 18 years or older from the keel laid, calling at Brazilian ports to load solid bulk commodities with specific weight equal to or greater than 1.78 t/m3, such as iron ore, bauxite, manganese and phosphate, are required to pass a condition survey. This survey is conducted by a classification society other than the one ...

Broker Marsh and Lloyd’s underwriter Tokio Marine Kiln (TMK) have set up business interruption insurance for ports to provide cover against growing trade disruption risks such as threats to shipping in the Red Sea, executives involved said. Ports across the globe are dealing with multiple issues that are disrupting flows of goods, including attacks by Yemen’s Houthis on commercial shipping as well as the risk of strikes at terminals in the United States. “Recent geopolitical turmoil has exposed a clear gap in the standard cover available to ports and other ...

Members will be aware of the numerous regulatory requirements that come with trading to the United States and US Territories. These include both federal and state-specific obligations. The Club has created a short guide as a tool to assist Members with their most frequently asked questions. US Regulation is complex and not every requirement is listed here. Many Members choose to use specialist companies within the US to assist with compliance. Please note that guidance is given below to pollution prevention and response, however, the reader seeking more detailed information ...

Charcoal is described in the IMDG Code as “Black material originating from organic sources. Particularly includes carbon blacks, of animal or vegetable origin other non-activated carbon materials and charcoal produced from materials such as bone, & bamboo, coconut shell, jute and wood.” Factors contributing to this risk include improper packaging, inadequate ventilation, and failure to adhere to International Maritime Organisation (IMO) regulation of Dangerous cargo as codified in the IMDG Code. The Cargo Incident Notification System (CINS) in conjunction with the International Group of P&I Clubs and the TT Club ...

Terminals sometimes require an owner to accept certain conditions before allowing the vessel to access or use their facilities, typically in the form of a “Conditions of Use” document, “Port Liability Agreement” or similar (COU). This is particularly common at LNG terminals. While it is normally the shipowner (or the Master on their behalf) who is required to sign the COU, it may also have an impact on the charterers and their P&I cover. The terms of these COUs are often onerous in nature. They may, for example, provide that ...

Void spaces Tanker men are usually familiar with the dangers of cargo tanks and other enclosed spaces; they are used to the problems of gas-freeing and checking for dangerous gases and lack of oxygen. They have the equipment and understand the need for entry procedures and entry permits. There may be less awareness of these problems among the crew on board dry cargo vessels, but still both ballast tanks and void spaces may be very dangerous to enter. The oxygen level of the air inside may be reduced, especially if ...

Speaking at yesterday’s International Union of Marine Insurance (IUMI) annual conference in Berlin, Germany, Mike Brews, Chair of the IUMI Cargo Committee reported a sustained improvement for the marine insurance cargo market. According to IUMI’s own analysis, global cargo premiums for 2023 were USD 22.1 billion representing a 6.2% increase on the previous year. This increase demonstrated positive market development which has been sustained for a number of consecutive years. Similarly, cargo loss ratios (the total of premiums earned less the amount paid out in claims) were improving across many ...

Today, in Berlin at its 150th anniversary conference, the International Union of Marine Insurance (IUMI) made the link between loss prevention and the reality of society meeting its decarbonisation goals. Pascal Dubois, Chair of the IUMI Loss Prevention Committee reiterated the enormous challenge faced by society and highlighted three key requirements to effect change: financial investment, innovation and long-term political will. However, he argued that this would not be enough unless backed by a comprehensive programme of loss prevention. “Climate change continues to impact our daily lives. As a Frenchman living ...

Chairing the Ocean Hull Workshop at today’s International Union of Marine Insurance (IUMI) 150th annual conference in Berlin (Germany), Ilias Tsakiris, General Manager of American Club Europe, CEO of Hellenic Hull, and Chair of IUMI’s Ocean Hull Committee opened by saying: “As we celebrate this milestone, we are reminded of the legacy we’ve inherited but also of our responsibility to prepare for the future. The marine insurance sector has a long history of adaptability, and now, more than ever, we must remain nimble as the world around us changes.” He emphasized ...

Chairing the Policy Forum Workshop at this week’s International Union of Marine Insurance (IUMI) 150th annual conference in Berlin (Germany), Neil Roberts (IUMI Policy Forum Chair and Head of Marine and Aviation at Lloyd’s Market Association) affirmed that maritime safety and security remained at the top of IUMI’s agenda. He gave an update on marine insurance implications related to the Red Sea, saying: “In the Red Sea, the international naval intervention helps provide insurers with the confidence to continue supporting trade as appropriate. However, vessels are still being regularly attacked and ...

The group’s half-year results for the period 1 January 2024 to 30 June 2024, on an Estimated Total Call (ETC)* basis, were as follows: A result of USD 80 million A Combined Ratio Net (CRN) of 93 per cent A technical profit of USD 33 million A non-technical profit of USD 47 million, including taxation and other comprehensive loss Equity of USD 1,529 million (on an Actual Call basis) “These are strong results,” said Gard CEO, Rolf Thore Roppestad. “Overall, they reflect that our Members and clients run quality operations. ...

Opening this week’s International Union of Marine Insurance (IUMI) annual conference in Berlin (Germany), President Frédéric Denèfle focused on how change was likely to impact on all lines of marine insurance business. Referring to the common theme of the conference “building on 150 years of enabling global commerce”, he said: “This year we celebrate the 150th anniversary of IUMI and its extraordinary history which started here in Berlin. We’ve seen our association grow from what was essentially a German organisation into a truly global institution that has become the accepted and trusted ...

Potential impact on shipping Cargo ships regularly carry wood as cargo or to secure cargo (e.g. as dunnage). Consequently, large quantities of wood are transferred into and out of the EU each day. Wood may be discarded by Stevedores, require sorting by crew and be damaged whilst loading or discharging leaving debris. Owners, Charterers and others in the shipping value chain should take note of the EU commission’s advice on Trading and shipping which is extracted below for your ease. “Trading and shipping” Deforestation-free and legal commodities must be kept ...

Skuld is pleased to report a positive half-year (six months ending 20 August 2024) result of USD 25 million. The positive result was driven by a strong contribution from the investment portfolio across all asset classes. Highlights: Positive result of USD 25 million for the half year Continued premium growth Strong investment portfolio return The investment return contributed 5.1% in the first half of the year. All the main drivers moved favourably over the period, with global equities increasing by 11.5% while US bond yields and the USD declined. Skuld ...