Home / Shipping News / Marine Insurance P&I Club News (page 4)

Marine Insurance P&I Club News

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 ...

Read More »

Uncollected Cargo – mitigating the risks

The problem of uncollected cargo is a perennial problem for NVOCC operators, often resulting in considerable bills on warehousing, container demurrage, and disposal costs. Apart from anything else, there is a significant drain on management resource to bring resolution. Uncollected cargo is not a new challenge to NVOCC, but in many parts of the world appears to be an increasing problem. The NVOCC is particularly exposed to liability to costs that arise rapidly where house bills have been issued and it acts as carrier. There may not be a ‘silver ...

Read More »

Vessel Incidental Discharge Act (VIDA) of 2018

VIDA establishes a new framework for the regulation of vessel incidental discharges. The wide implications of this new law are still under assessment but the crucial provisions of VIDA may be summarised as follows: • It provides for the establishment of uniform standards for the management of discharges incidental to the normal operation of a vessel. • It charges the Environmental Protection Agency (EPA) with primary responsibility to establish standards relating to the discharge of pollutants from vessels. • It charges the USCG with primary responsibility for prescribing, administering and ...

Read More »

The IMB NVOCC Register – Reducing bills of lading risks

While there may be valid trading reasons that give rise to bill of lading difficulties, there is an unhealthy under-belly of criminal activity. TT Talk canvassed some trading issues relating to bills of lading in the December 2018 edition. Reference within those articles was made to the English law position articulated in Motis Exports case1, explaining the risk exposure to bill of lading issuers and stakeholders relying on the documentation. This article applies to the industry vulnerability to fraudulent activity. Banking scrutiny The International Chamber of Commerce’s Commercial Crime Services ...

Read More »

Manual handling: an ever-present risk

Despite continued industry awareness and guidance published on manual handling, numerous musculoskeletal injuries are reported to the Club every year [1]. A manual handling task should never be attempted without referring to or carrying out a risk assessment. This means a formal risk assessment of all manual handling tasks, both routine and one off, performed by a person who is trained and competent to do so, using the company’s approved form and ensuring that records are maintained in line with procedures. To ensure that a full assessment of the task ...

Read More »

Nordic Marine Insurance Plan – allocation between marine and war perils

The Nordic Marine Insurance Plan (NMIP) is a document agreed between Nordic insurers and Nordic shipowners through the mechanism of a Standing Revision Committee. The roots of the current Plan go back to the first Norwegian Plan of 1867. The current Plan, the Nordic Marine Insurance Plan 2013, provides cover for all traditional marine insurances other than P&I. The NMIP, and its Commentary, are subject to regular revision in 3-year cycles. Recently, the 2019 revision of the NMIP was approved by all parties and the document officially published for use ...

Read More »

North P&I Club Launches Can Test Training Pack

North P&I Club has launched its comprehensive new series of bite-sized training packs to help seafarers avoid the contributing factors to workplace casualties, as well as unplanned events that did not result in injury, illness, or damage – but had the potential to do so. 112 seafarers’ lives have been lost since 2007 as a result of suspected bulk cargo liquefaction, therefore the first in North’s series of bite-sized training packs focuses on the Can Test, the International Maritime Solid Bulk Cargo Code’s complementary test for bulk cargoes. The Can ...

Read More »

Britannia Granted Licence to Underwrite Business in Singapore and Launches Two Chinese Language Websites

On 25 January Britannia P&I Club was granted a licence to underwrite business from its Singapore branch. The licence was granted by the Monetary Authority of Singapore (MAS) and follows the recent further positive news of Britannia’s Hong Kong branch also receiving its underwriting licence from Hong Kong’s insurance regulator, the Insurance Authority. The Singapore branch will be managed by Tindall Riley (Britannia) Singapore (TR(B)S) and is headed by John O’Flaherty, Chief Executive, who has had many years of experience in marine insurance and shipping. John’s team of seven colleagues ...

Read More »

Bad weather closes Algerian ports

Most of Algeria’s ports have been closed to traffic as a result of bad weather. Ports closed include Arzew, Oran, Mostaganem, Skikda and Tenes. Vessels which were already in sheltered berths have been able to remain at quay, while all other vessels have been obliged to sail to anchorage pending calmer conditions. Members should be aware that considerable congestion is building up in the ports and delays in berthing are very likely. Members are advised to check individual ports for the current situation and to discuss alternative arrangements with shippers ...

Read More »

Proper Response to Engine Room Fires Vital says The Swedish Club

Engine rooms on ships have all the ingredients for a fire – oxygen, heat and flammable liquids under pressure. With an average cost of USD 1.85 million, engine room fires cost nearly six times more than the average for H&M claims in general. Yet the quality of the crew’s response can have a significant impact not only on the cost of the fire, but more importantly on the safety of those on board. In response to this, The Swedish Club has published Dealing with Engine Room Fires, a publication which ...

Read More »

Sanctions Against Venezuela – Designation of PDVSA

On 25 January 2019 President Trump issued an Executive Order to the effect that Petroleos de Venezuela SA (PDVSA) is included in the definition of “Government of Venezuela” as referred to in several Executive Orders including 13808 of August 2017 and 13850 of November 2018, thereby bringing PDVSA within the terms of those Executive Orders. On 28 January 2019 PDVSA was designated and added to the U.S. SDN list. Concurrent with that action a range of General Licences have been issued by the U.S. Department of the Treasury. Those licences ...

Read More »

Steamship Mutual P&I Club: Financial Update and 2019 Renewal

At a Board Meeting in Tokyo on 29 January the following developments were reported. Tonnage The Directors were pleased to note the continued growth in the Association’s owned entry, 1.5 million tons in the period 20 February 2018 to 20 January 2019, increasing the combined owned and chartered entry to 160 million tons. Underwriting Results 2018/19 Policy Year Claims up to US$250,000 in the current year are slightly lower than at the same point last year, in line with the average experience of the previous five years. The number of ...

Read More »

IMO 2020 sulphur cap update – Port of Fujairah to ban use of open-loop scrubbers

The Port of Fujairah, the largest bunkering port in the Middle East, will ban the use of open-loop scrubbers and will require all ships to use compliant fuel oil when the IMO 2020 sulphur cap comes into force. The move by Fujairah is an example of yet another major bunkering hub to ban open-loop scrubbers by the implementation of the IMO 2020 regulations. It follows a similar move announced in December of last year by Singapore, the world’s largest bunkering port. The list of ports and countries banning the use ...

Read More »

Unrecoverable General Average contributions from cargo interests

P&I insurers normally provide cover in respect of general average (GA) contributions which are not recoverable from cargo or other interests and resulting from the shipowner’s breach of the contract of carriage. The Standard Club provides such cover under Rule 3.14[1]. In the recent case of The Cape Bonny [2], the English Commercial Court ruled that neither the Chinese cargo interests nor their subrogated underwriters were liable for cargo’s proportion of GA (valued at approximately $2.1m) because the owner of the vessel had failed to exercise due diligence to make ...

Read More »

Safer through self-reflection

The seafarer of today is evaluated on their performance on a near daily basis, this is by either another person or by technology. But perhaps the most valuable and often overlooked evaluation of an individual is by themselves. In other words, self-reflection of one’s own performance. The Cambridge Dictionary defines self-reflection as ‘the activity of thinking about your own feelings and behaviour, and the reasons that may lie behind them’. So, what does this mean and how can it help you to be safer at work? In practice self-reflection is ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping