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Marine Insurance P&I Club News

Asian Gypsy Moth (AGM) – 2019 Risk Period

The club would like to remind its members on the upcoming high risk season for Asian Gypsy Moth (AGM). During this time it is expected that port state inspectors in the United States, Canada, Chile, Australia and New Zealand will increase their efforts to prevent the spread of this invasive species. The regulated areas and risk periods for 2019 are mentioned below. United States and Canada Ships that have called above mentioned regulated areas in the past 24 months, shall ensure that required pre-departure certificates are obtained and additional self-inspections ...

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Bunker suppliers upset balanced BIMCO bunker terms

As many members are aware, whether they purchase bunkers as an owner or charterer of a vessel, sometimes the standard terms and conditions of the relevant bunker supplier can be slanted in favour of the bunker supplier. Often they contain short time limits for making a claim, in the event the bunkers turn out to be not of the agreed quantity or quality. So where the purchaser of the bunkers finds out later that there is a problem with the fuel, often it is too late for him to bring ...

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Skuld reports 16th year of positive underwriting results

Skuld yesterday announced a positive bottom line result of USD 11 million (USD 58 million in 2017) for its 2018 financial year ending 20 February 2019, and a total combined ratio of 98%. Gross earned premium in 2018 amounted to USD 402 million. The result marks continuity in a record-breaking 16th consecutive year during which Skuld has reported a positive underwriting result. The year was characterised by challenging conditions in global insurance and investment markets. However, commercial marine liability underwriting contributed notably to the overall result, alongside a balanced performance ...

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Supporting our oceans through sustainable marine insurance

In 2017, Gard signed the world’s first insurance industry statement on sustainable marine insurance. Through this statement, we are committed to tackling illegal, unreported and unregulated (IUU) fishing through education, awareness building, risk management and insurance underwriting. Oceana recently launched a set of guidelines to assist insurers in controlling or mitigating the risk of insuring vessels and companies associated with illegal, unreported and unregulated (IUU) fishing. The guidelines were developed together with UN Environment’s Principles for Sustainable Insurance Initiative, with input from insurance associations, companies, and other key stakeholders. Through ...

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Britannia becomes first P&I Club to be accepted as a member of MACN – the Maritime Anti-Corruption Network

Britannia has become the first P&I Club to be accepted as a member of the Maritime Anti-Corruption Network (MACN). Established in 2011 by a group of maritime companies committed to eradicating the industry of all forms of corruption, MACN has grown into a global business network of over 100 members, representing a sizeable percentage of the global fleet. “We’re proud to be the first P&I Club to have been accepted as a member of MACN,” said Andrew Cutler, CEO of Britannia’s Managers Tindall Riley. “Tackling corruption is vital to ensure ...

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US Treasury Department Publishes A Framework For OFAC Compliance Commitments

On May 2, 2019, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) published A Framework for OFAC Compliance Commitments in order to provide organizations subject to US jurisdiction, as well as foreign entities that conduct business in or with the United States or US persons, or that use US-origin goods or services, with a framework on the essential components of the sanctions compliance programs. The document also outlines how OFAC may incorporate these components into its evaluation of apparent violations and resolution of investigations resulting in ...

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Seafarer Desertion – The Club’s Experience

The Club has recently undertaken an analysis of claims involving seafarers who have deserted their vessel over the previous ten years. Although these types of claims are not common and nor are they particularly expensive, they can be disruptive to a vessel’s operation, and take up management time to rectify. In some cases, the deserter will turn up shortly after going missing, in others, they have disappeared for a considerable period of time. The ranks of those that desert a vessel are many and varied, including cadets, crew and officers ...

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USCG re-instatement of BWM extensions: Are you affected?

The US Coast Guard (USCG) has reconsidered its interpretation of ‘next scheduled drydocking’ with regard to extensions given under its ballast water management requirements in 33 CFR 151 Subparts C and D and is providing additional guidance on what constitutes entry into drydock and the end of an extension period. Background A number of vessels received an extension of the ballast water compliance date that was stipulated as the ‘first scheduled drydock after [date]’. The [date] was the date of entry reported to the Coast Guard for the upcoming statutory ...

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Wood pellets and risk of fire

In recent years a number of formerly coal fired power stations have started to turn to biomass as feedstock in order to improve sustainability of fuel sources. This has resulted in worldwide shipments of wood pellets intended to be burned. Most of these shipments are executed without incident but there are significant hazards associated with the carriage of wood pellets. The commodity consists of wood fragments/shavings etc compressed into pelletised form. These pellets can include a binder additive but not all wood pellets use binders. Either type can self-heat when ...

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Prepare crews for PSC spot sampling of ships’ fuel

“Prepare crews for PSC spot sampling of ships’ fuel”. This may seem like pretty minor advice at a time when shipowners are in the midst of preparing their fleets and crews for compliance with the 2020 global sulphur cap. Onboard spot sampling of ships’ fuel is nothing new. Since the 0.10% sulphur cap entered into force in EU ports and the designated ECAs, spot sampling and analysis of ships’ fuel have been common as a means for port state control (PSC) to verify the actual sulphur content of the fuel ...

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Strasbourg Convention of 2012 on the Limitation of Liability in Inland Navigation (CLNI 2012) – New Limitation Regime

This article is intended to be used as a reference to aid members to understand the CLNI 2012 terms in particular the new increased limitation of liability. Background The Central Commission for the Navigation of the Rhine (CCNR) initiated the Strasbourg Convention on the limitation of liability in inland navigation (CLNI) 1988 based on the model of the Convention on limitation of liability for maritime claims (LLMC). The purpose was to allow owners and crew members of inland vessels and their salvors to set a maximum amount to limit their ...

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Best practices for carriage of dangerous goods by container

Class society ABS and representatives from the Cargo Incident Notification System (CINS) have formed a joint industry project to develop best practices for carriage of dangerous goods. ABS has been working with CINS members over the past six months to develop best stowage strategy guidelines. Following a three-month trial, the best practice guidelines are intended to be published on the CINS website. ‘Carriage of dangerous goods, not properly identified or accounted for, can be detrimental to the safety of the ship – and more importantly, to the people on board ...

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The silent and invisible killer onboard vessels

The United States Coast Guard (USCG) recently issued Marine Safety Alert 04-19, “Confined Spaces: Silent & Invisible Killers”. The risks associated with enclosed space entries are illustrated by a recent casualty where three persons were asphyxiated while working onboard a laid-up Mobile Offshore Drilling Unit (MODU). Once again, two additional persons were killed when trying to rescue a fellow crewmember – because they entered the space without wearing personal protective equipment and self-contained breathing apparatuses. Although it may be mandatory to carry out enclosed space entry drills on board, it ...

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Concerns remain for global marine underwriting, says IUMI

Whilst in general, major losses remain stable, the continued erosion of the global premium base means that attritional losses are becoming much more significant. The increased risk of large, more complex and costly claims has the potential to impact all marine underwriting sectors in 2019. The International Union of Marine Insurance (IUMI) gave expert opinion on the current state of the hull, cargo and offshore energy insurance markets at its Spring Conference in Hamburg on 7-8 April 2019. Hull casualties Although the global fleet continued to grow at around 3% ...

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Liabilities arising under the Turkish Straits clauses

The Turkish Straits are among the busiest waterways in the world. They have crucial importance for the international shipping industry especially for trades involving the Black Sea, Sea of Azov (Northeast of Crimean Peninsula), Marmara Sea, Aegean Sea and Mediterranean Sea. The Bosphorus Strait is about 10 nautical miles in length and just 700 meters wide at the narrowest point. It has strong currents and sharp turns. The Dardanelles Strait is about 38 nautical miles long. The passage is generally straightforward, except for two significant turns, near the City of ...

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