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‘FONAR’ systems in view of the 2020 sulphur regulations

The IMO has attempted to reduce airborne emissions from ships through Annex VI of the MARPOL Convention, which first came into force in 2005. This includes a global limit for the sulphur content of ship’s fuel oil, as well as more stringent controls within designated ‘Emission Control Areas’ (ECAs). Currently, ECAs established under MARPOL Annex VI are located in the Baltic Sea, the North Sea, North America and the United States Caribbean Sea. From 1 January 2015, the sulphur limit for fuel oil used by ships within these areas was ...

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How might the IMO’s 2020 fuel changes alter shipping firms’ exposures?

The global maritime industry is heading full sail towards a new 0.5% global sulphur cap on fuel content, which will be imposed by the International Maritime Organization (IMO) on January 01, 2020. From that date onwards, shipowners and charterers around the world can only legally take on bunkers with a maximum sulphur content of 0.5%, down from the current level of 3.5%. If they’re found in breach of the IMO’s new regulation, they will face penalties and their vessels will be declared unseaworthy and therefore uninsurable. There’s no silver bullet ...

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P&I Clubs’ Balance Sheets Strong but Performance under Pressure amid Strong Competition

Pricing is under pressure ahead of the February 20, 2019 deadline for the marine protection and indemnity (P&I) renewal for ship-owners. Competition in the sector remains strong, exacerbated by a growing fixed-premium market, according to a new special report by AM Best. The P&I sector is dominated by the members of the International Group of P&I Clubs (International Group), which collectively insure approximately 90% of the world’s ocean-going tonnage. Of the 13 clubs, 12 have announced that they will not apply a general increase to P&I premium rates for the ...

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Ship Insurance: Dublin to Become Hub for 40% of Business After Brexit

Ship insurer Standard Club based in the UK, estimates that about 40% of its business will be written through its new Dublin unit, which has been set up to allow the business to continue to service customers in the European Economic Area (EEA) in the wake of Brexit, according to its chief executive. The Standard Club’s chief executive, Jeremy Grose, has told The Irish Times that the insurer currently generates about $290 million (€257.3 million) of premiums annually. “Dublin was a natural choice for the Standard Club, particularly [given] the ...

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Anthropogenic sound – the pollution you may not have heard of

The vast acoustic potential of the deep ocean has created wildlife that has evolved to use (and rely on) sound as a medium to exist. However, these organisms’ ability to communicate with one another, perceive prey or find potential mates can be disturbed by noise pollution, also known as anthropogenic sound. The shipping industry is the primary cause of anthropogenic sound but at present international laws and guidelines do little to negate this. This begs the question whether anything more stringent will be introduced and, if so, what effect this ...

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INSIGHT: Venezuela Sanctions

Introduction The United States first imposed sanctions targeting the Venezuelan government in 2015. Both the US and EU have designated individuals associated with the regime. The US measures against the government of Venezuela were significantly extended in January 2019 to target PdVSA. It should be noted that sanctions regulations are subject to change without notice and with immediate effect. The situation in Venezuela is volatile and the US, EU and other States may expand or remove sanctions to reflect political developments. US A significant ramping up of US sanctions took ...

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SIACI SAINT HONORE And CAMBIASO RISSO Join Their Forces To Build A New Insurance Brokerage Champion

SIACI SAINT HONORE, one of the leading providers of insurance brokerage and consulting services with its headquarters in France, and CAMBIASO RISSO, an Italian worldwide leading broker for marine insurance, announce that they have signed a strategic partnership to foster a strong positioning in their markets. Cambiaso Risso Group, a world marine insurance brokerage leader based in Genoa, has signed a strategic partnership agreement with French insurance broker SIACI SAINT HONORE, a leading company in the fields of industrial risk protection, marine, international mobility, and employee benefits for large and ...

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The “PACIFIC VOYAGER” – Court of Appeal decision

In November last year the Court of Appeal handed down judgment in the PACIFIC VOYAGER [1], a case concerning the circumstances in which an owner under a voyage charter is under an absolute obligation to proceed to the loadport by a certain date. The Club has previously reported on the earlier High Court decision. To recap the facts • The parties entered into a charter on amended Shellvoy 5 terms for loading in Rotterdam and with a laycan that expired about a month after the charter was fixed. • At ...

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Maritime autonomous surface ships on the horizon

Gard’s mission is: Together we enable sustainable maritime development. To deliver on this mission, we explore and support the development of emerging technologies including maritime autonomous surface ships. The Nordic countries are leading the way in this area and we are proud to be collaborating with Yara International (Yara) and their newly established company Yara Birkeland AS that is developing the well-known Norwegian autonomous logistics project, YARA BIRKELAND. Construction of the zero-emission autonomous containership has already begun. When the ship enters service in early 2020, she will be operated by ...

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Standard Club: Renewal 2019/20 Policy Year

Please find below an update to members on various renewal matters: 1. Changes to the P&I, Offshore, Defence, War Risks and London class rules The changes set out in our circular dated 21 December 2018 were approved at the meetings of members held on 29 January 2019. 2. Limits of cover for the 2019/20 policy year The proposed cover limits are the same as the current policy year, and are set out below: Owners’ entries • Oil pollution claims will continue to be limited to $1bn any one event, subject ...

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The Swedish Club Delivers Expert Advice on Dealing with the Sulphur Cap 2020

On 1 January 2020 vessel owners must have made the decision to install exhaust gas scrubbers or to burn low sulphur or alternative fuels. The cost implications of any decision will be difficult to predict and there is no shortage of opinions in the marketplace. To assist the shipowner, The Swedish Club has cut through the chatter and obtained expert advice from a leading marine engineering consultancy and from experts in contract law. The Swedish Club’s Sulphur Guide provides both technical and legal advice. It explores technical considerations when making ...

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TT Club appoints new Senior Underwriter

TT Club, the international transport and logistics industry’s leading provider of insurance and related risk management services, has appointed Andrew Peers as the Senior Underwriter for its UK, Benelux and Nordic underwriting team. Andrew joins the Club from RSA, where he spent 17 years and led a team of 12 marine liability and marine property insurance underwriters, delivering value to his clients and London market brokers. Andrew has also held senior positions at GE Frankona and Willis. Reporting to the Club’s EMEA Regional Director Mark Argentieri, Andrew will head up ...

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INTERTANKO’s guide to New Zealand’s biofouling and ballast water requirements

INTERTANKO has produced a ‘Guide to New Zealand’s biofouling and ballast water requirements’ to offer guidance to Members on New Zealand’s biofouling and ballast water requirements for commercial vessels. New Zealand Ministry of Primary Industries (MPI) has issued Notices of Direction to vessels informing them to stay outside New Zealand territorial waters until their hulls are cleaned; this being despite the fact that there are no cleaning facilities in New Zealand. INTERTANKO’s Environmental Committee opened a dialogue with the MPI and has produced this guidance for ships calling New Zealand. ...

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Marlins teams up with UK P&I Club to support seafarers’ health and wellbeing

Marlins, V.Group’s leading brand of Maritime English language testing, recruitment and elearning solutions for seafarers, has teamed up with the UK P&I Club to promote a range of elearning courses aimed at improving seafarers’ physical and mental health. Within the next few months, Marlins will launch three new courses covering dignity at work to help address issues of bullying and harassment on board cargo and cruise ships, also stress management, and physical health. Several more new elearning courses on the subject of Crew Wellbeing will follow. As part of the ...

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Letters of Indemnity (LOIs) and recent English court decisions

This article outlines the use of letters of indemnity (LOIs) and the impact on members’ P&I cover discusses some recent English law court decisions concerning the enforcement of LOIs offers recommendations to members when negotiating, issuing, and using LOIs. What is an LOI and why are they used? An LOI is an agreement whereby the issuer requests the recipient to do (or refrain from doing) something in exchange for an indemnity for any losses that result from complying with the request. In shipping, in the interest of expedience, a shipper ...

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