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Marine Insurance P&I Club News

Bulker Owners in Deep Water Warns The Swedish Club

Bulk carrier owners are warned to pay extra attention to the basics in a new report issued by The Swedish Club. The Club has found that for bulk carrier operators, wet damage is the most costly claim type and the second most common claim that they experience. The report, Wet Damage on Bulk Carriers, which has been prepared in conjunction with DNV GL, and MacGregor, identifies heavy weather and leaking hatch covers as both the most common and the most costly type of wet damage claim. With the average cost ...

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TT Club Highlights Cyber Activity is the Norm not the Exception

Speaking at the 6th Med Ports Conference in Livorno (Italy) last month, TT Club’s Andrew Huxley highlighted that cyber activity is a daily operational risk which needs to be addressed urgently. According to freight transport specialist insurer TT Club, supply chain operators are vulnerable to disruptive cyber activity, from criminals or other perpetrators, impacting operations and putting commercially sensitive or confidential data at risk. Huxley explained, “Many in the marine supply chain business have operations characterised by widespread office networks and a reliance on multiple third party suppliers. Often IT ...

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Russia – Increased Sanctions – Rusal – New Contracts

It was reported in our News Item of 25 April 2018 that OFAC had issued two new licences which in effect gave parties until 23 October 2018 to wind down their activities and contractual commitments with Rusal. Our U.S. attorneys Freehill Hogan & Mahar have clarified however that this does not necessarily mean that non-U.S. persons can enter into new contracts with Rusal, even if they are intended to be completed by 23 October. OFAC have in fact informally advised that if a non-U.S. person enters a new contract with ...

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USCG Houston Ship Channel MSIB 10-18

The USCG has issued a bulletin (Marine Safety Information Bulletin 10-18) related to problems encountered by vessels in the Houston Ship Channel complex. Since early April 2018 vessels in the channel have suffered problems caused by fish clogging up their sea strainers. This is considered a seasonal event involving mainly the Gulf Menhaden species of fish. May-October is considered the highest risk period, although issues of this nature have been reported at other times during the year. Problems relating to the blocking of sea strainers include, loss or reduction in ...

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North P&I Club Strengthens Cargo Claims Team

North P&I Club has further strengthened its specialist cargo claims team with the appointment of David Richards as Deputy Director (Cargo). This appointment is an important element in North’s ongoing commitment to provide the highest standards of service delivery to its members in a continuing challenging environment for shipping. Richards, formerly a partner with Ince & Co and a Legal 500 recommended dispute resolution lawyer, is a specialist in commercial shipping and trade and brings a vast range of experience and expertise in dealing with commodities, bill of lading and ...

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Enhanced Hazcheck Restrictions Portal Launched

Exis Technologies, with the support of leading shipping and freight insurers, TT Club and UK P&I Club, is announcing its next phase of implementation of its Hazcheck Restrictions Portal at the transport industry’s Multimodal 2018 event at Birmingham’s NEC. In order to help reduce incidents caused by undeclared or misdeclared dangerous goods (DG), Exis Technologies’ Hazcheck software has been facilitating the operations of a number of major container shipping lines. However, a key element of streamlining is now being offered through the development of a portal integrating port restrictions. This ...

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China – Fines For Not Having Valid SPRO Agreement

It has of course been a requirement since 2012 for certain vessels to pre-contract with a Ship Pollution Response Organisation (or “SPRO”) before entering Chinese ports. The International Group has published various standard documents to assist Members in doing so, including a recommended SPRO agreement wording. Huatai have recently warned that ships which arrive at a Chinese port without a valid SPRO agreement in place risk incurring a fine of between RMB 10,000 and RMB 50,000, and local MSA offices are said to be undertaking spot inspections to check that ...

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China implements special security inspections in Qingdao

Gard’s correspondent in China, Huatai Insurance Agency & Consultant Service Ltd., advises that, for a limited period starting 20 April 2018 until mid-June 2018, the China Maritime Safety Agency (MSA) will conduct special security inspections onboard ships entering Qingdao waters. As part of the announced inspection campaign, vessels intending to enter Qingdao waters during this period must also submit a ‘special information report’ to the MSA prior to arrival in Qingdao. Although not explicitly stated, it seems likely that the enhanced security inspections relate to the upcoming summit of the ...

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Managing stress with relaxation techniques

We talk about feeling stressed when the pressures or demands of life get on top of us. We all feel stressed at times. Stress is not only normal but essential for survival and can be beneficial to us. Although stress has a useful function, the effects of stress can be unpleasant or uncomfortable. If the stress is prolonged or repeated, many of the changes in our body can have longer term effects on our physical health and our wellbeing. For all these reasons, it is important to recognise stress and ...

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Combatting cargo crime: Project ROADSEC

Cargo theft and transport security during road transportation is an issue raised by IUMI on several occasions. In the European Union (EU) cargo theft occurring through the distribution chain is a multibillion dollar problem. It is high up on the Political Forum’s Current Issues List as it causes the marine insurance industry massive losses and disrupts supply chains. Transport security is also applicable to even more important issues such as terrorism risks, movement of illegal immigrants, driver security and organised crime financing. As a first step from IUMI to address ...

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Beast from the East

The difficult ice conditions have forced many shipowners and charterers to carefully review insurance contracts and charterparty ice clauses. In this Insight, we take the opportunity to review the treatment of ice under Hull and Machinery terms and charterer’s liability policies. Hull and Machinery insurance has always paid attention to the hazards of ice and underwriters have regulated their exposure through different ice related warranties and exclusions. There are permanently excluded areas, such as Arctic and Antarctic areas, where ice and navigational risks are very high due to such factors ...

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General Average – The Importance of Due Diligence

A recent UK court decision has found cargo insurers not liable for general average contributions as the owner failed to exercise due diligence, leading to the breakdown of a vessel’s main engine. The 2005 built crude oil tanker CAPE BONNY was on passage between Argentina and China in 2011 when No.1 main bearing failed catastrophically. The breakdown occurred when the vessel was trying to avoid a tropical storm and towage assistance was needed. The shipowner declared general average and contributions were sought from the parties to the common maritime adventure, ...

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USCG increases marine casualty reporting thresholds

Members should be aware that the USCG has increased the marine casualty property damage thresholds for reportable marine casualties that take place in US waters or involve US-flag ships. These changes took effect on 18 April 2018. Background Ships are required to notify the USCG immediately of certain ‘marine casualties.’ A marine casualty is any incident involving a ship that occurs on navigable waters of the US and/or involves a US ship that results in any of the following: Loss of life, injury (beyond first aid), grounding, bridge allision, main ...

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Get ready for New Zealand’s new biofouling requirements

New Zealand releases guidance on how international vessels can comply with the country’s new biofouling requirements which enter into force on 15 May 2018. New Zealand is known for its unique nature and marine environments and has strict biosecurity requirements for arriving vessels and will soon become the first country in the world to introduce a nationwide standard for biofouling. New Zealand’s new biofouling requirements becomes mandatory as of 15 May 2018 and from this date, vessel operators must demonstrate that they have managed biofouling on their vessels well before ...

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The Shipowners’ Club reports a steady year

Shipowners’ Club, the leading mutual P&I insurer in the smaller and specialist vessel sector, has reported positive results for the year ending 31 December 2017, despite the challenging market conditions to both the insurance and shipping sectors. The Club has reported a combined ratio of 99.1%, stability in Member and vessel numbers, a small uplift in gross tonnage to 25.48m and an overall surplus of US$ 47.7m, including a return on the investment portfolio of US$ 47.5m. In announcing the results, Chairman Philip Orme highlighted that “the Club continues to ...

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