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Marine Insurance P&I Club News

Decarbonisation developments and challenges: The barriers

With regulatory changes looming as soon as 2023, and the longer-term challenges set by the IMO’s 2030 and 2050 deadlines, our 2022 Alternative Fuels member survey reveals the current state of play as shipowners continue their decarbonisation efforts. In our second of six blog posts highlighting the survey’s main talking points, we focus on the main barriers facing members as they transition away from carbon-based fuels and explore their current thoughts on meeting the IMO requirements. IMO 2030 and IMO 2050 The initial IMO strategy sets out a reduction of ...

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New report from Swedish Club shows spike in reefer claims over pandemic

A new report from The Swedish Club, Container Claims – Refrigerated Containers, has identified a peak in refrigerated (reefer) container claims during the pandemic years as a result of disruptions in the supply chain, with a high number of reefer containers being delayed either in port or during transportation to and from port via road or rail. Between 2021 and 2022 the Club saw an increase in reefer container claims of 270%, with 4.1% of all container vessels having a reefer claim in 2020 compared with 11.4% in 2021. Reefer ...

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Club correspondent Oasis P&I has released a circular issuing guidance on the new announcement released by China MSA

To ensure the smooth holding of the fifth China International Import Expo, the China MSA will conduct special safety supervision on those ships entering the control waters in Huangpu River of Shanghai from 21 October to 10 November. MSA has released various requirements for domestic and international ships which includes: Special information reports Special self-inspection Inspection by China MSA The directive requires ships to: 1. Correct any ship defects prior to arrival 2. Shall not carry and use ‘slow and low flying drones’ 3. Keep the AIS and VHF turned ...

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Tug and Barge Towing Operations Risk Assessment

Non-Propelled barges are widely used to carry commodities and equipment on inland waterways, in coastal waters and open seas. The towing of these barges by purpose-built tugs is a standard operation, however this activity presents complex challenges. While the principles of navigation, stability, and cargo securing on tug and barge units remain the same as for ocean-going cargo vessels, the towing operation of barges comes with its own sets of related hazards. The above graphs highlight the claims that have been notified to the Club between 2019 and 2021. It ...

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Personal Protective Equipment (PPE): De-constructing the last line of defence

A common non-conformity observed during various ship surveys and office audits performed by Skuld as well as during behaviour-based safety reporting, is the unsafe practice found on ships where the crew were found to not be wearing proper Personal Protective Equipment (PPE). This unsafe practice happens despite ample safety procedures and routine training that emphasizes the importance of using PPE for various types of work carried out onboard. PPE are equipment that are designed to protect the crew against any health or safety risks at work. PPE are also the ...

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Neptune – Bunker Info tab updates

A regular update of the bunker quality data has been uploaded to Neptune. The update covers six months, from May to October 2022. Let’s zoom in on VLSFO quality which is being supplied in Antwerp. In the current period, VLSFO bunkers delivered in Antwerp have failed to comply with the Sulphur content limit in 5.6% of cases. 3.9% of samples have shown Sulphur content between 0.50% m/m and 0.53% m/m, while 1.7% of test results exceeded 0.53%m/m – the level above which a buyer can claim that the specification has ...

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Formal approvals keep merger plan on course to establish NorthStandard as marine insurance major

Approvals from Competition and Regulatory Authorities are a major step in plan to merge North and Standard Club and establish NorthStandard. NorthStandard’s planned launch on 20th February 2023 will immediately see the merged organisation becoming one of the largest providers of mutual cover in the maritime industries, with over 300 years of shared P&I heritage and consolidated annual premiums of around US$750 million. Jeremy Grose, Standard Club CEO, and Paul Jennings, CEO at North, said that the new organization will bring together some of the most respected expert teams in ...

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Russian – Ukraine conflict: EU adopts eighth sanctions package against Russia

A number of Regulations and Decisions were published (full details of which can be found here) but of particular significance for clubs and their members is Council Regulation (EU) 2022/1904 (“the Regulation”) which further amends Council Regulation 2014/833. As well as imposing an asset freeze on a number of new individuals and entities, the Regulation contains the following provisions of particular relevance to shipping: Russian Maritime Register of Shipping The Russian Maritime Register of Shipping has been added to the list of Russian state-owned entities as listed in Annex XIX ...

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Seafarer mental health and geopolitics

The IUMI 2022 Policy Forum Workshop in Chicago focused on the war in Ukraine and its impact on marine and war risk insurance. At the workshop, Gard’s global head of People claims, Lene-Camilla Nordlie, turned her attention to seafarers and the challenges they face, not just due to the current geopolitical situation, but also generally due to the stresses and strains of their occupation. She shares some of her comments in today’s Insight. For policy year 2021, claims involving people made up 24% of the total number of claims handled ...

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Formal approvals keep merger plan on course to establish NorthStandard as marine insurance major

NorthStandard’s planned launch on 20th February 2023 will immediately see the merged organisation becoming one of the largest providers of mutual cover in the maritime industries, with over 300 years of shared P&I heritage and consolidated annual premiums of around US$750 million. Jeremy Grose, Standard Club CEO, and Paul Jennings, CEO at North, said that the new organization will bring together some of the most respected expert teams in global maritime risk management. “The approval from several regulatory and competition authorities in key regions around the world is a major ...

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Paperless Electronic Trading Systems: Update to TradeLens Terms and Conditions

Version dated 24 February 2021 – Previously Approved The International Group had previously approved TradeLens’ RuleBook and Service Description version 24 February 2021. These versions continue to be approved. Version dated September 2022 – Approved This circular confirms approval by the International Group of updated versions of TradeLens’ RuleBook and Service Description. These versions are dated September 2022 and supersede the previous versions dated 24 February 2021 which remain approved for the purposes of Club cover. The versions dated September 2022 will come into effect as of Friday 30 September ...

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The stink bug season is here again!

Why is the Brown Marmorated Stink Bug a problem? The Brown Marmorated Stink Bug (BMSB), or Halyomorpha halys, is an agricultural pest that feeds on, and can severely damage, fruit, and vegetable crops. The pest has spread from its native range in East Asia to form established populations in North America and Europe but is not yet present or widely established in countries such as Australia, New Zealand, and Chile. Like the Asian Gypsy Moth, the BMSB is considered a ‘hitchhiker pest’ that can spread via oceangoing vessels in international ...

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West Reports Significantly Improved Operating Result

West of England P&I Club is pleased to announce that the Club has returned an underwriting surplus for the first time in five years in its 20 August financial results, with a combined ratio of 97.9% at the mid-year point. The Club’s claims for the current Policy Year were substantially lower than forecast due primarily to an exceptional six months for the International Group Pool with no claims notified across the whole Group. Additionally, the claims for prior years have developed more favourably than expected notwithstanding latent Pool claim development ...

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Britannia Strengthens Senior Management Team

Simon joined Britannia in 2017 and in 2019 was promoted to Deputy Chief Underwriting Officer, with responsibility for the management of the London-based underwriting team and with particular focus on the Club’s European membership. Prior to joining Britannia, Simon worked at another P&I Club where he was a Group Director. Simon’s promotion allows Mike to focus on his DCEO role, which includes responsibility for the day-to-day management of Britannia’s London office, as well having oversight of Britannia’s regional hubs ensuring that Britannia continues to provide exceptional service to its Members ...

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US MARAD updates its security warning for the Red Sea, Persian Gulf, and Western Indian Ocean region

On 30 August 2022 the US Maritime Administration (MARAD) issued a revised advisory (2022-08) to US flagged commercial vessels operating in the Persian Gulf, Strait of Hormuz, Gulf of Oman, Arabian Sea, Gulf of Aden, Bab el-Mandeb Strait, Red Sea, and Western Indian Ocean. The advisory warns that regional conflict, heightened military activity, and increased political tensions continue to pose threats to merchant vessels operating in these geographical areas. It further states that threats may come from a number of different sources including, but not limited to, drones (unmanned aerial ...

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