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Marine Insurance P&I Club News

The Swedish Club Closes its 2019 AGM on a High Note

The Swedish Club welcomed members from around the world to its 147th AGM held in Gothenburg last week. More than 250 member representatives and business associates joined the Club to share in the combination of business and Swedish hospitality that makes the Club’s AGM such a unique event. The Guest of Honour this year was Andrew Bardot, attending one of his final events as Executive Officer of the International Group of P&I Clubs (IGP&I). Members were both informed and entertained by hearing his experiences since taking up the role 14 ...

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Global Cargo Theft Intelligence Report for 2018 Issued

TT Club and BSI have issued the second edition of their report on global cargo theft, the first to cover a full year. Highlighted findings include: theft from road vehicles once more accounts for the highest proportion at 84%; Slash and Grab the largest type of cargo theft at 26% globally but with significant regional variations; the combination of food, beverage, alcohol and tobacco making up the most common commodity group at 34% and South America topping the regional analysis of median value for each theft at $77,000 Leading international ...

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Skuld Annual Review and Accounts 2018/19

Continued growth “We will continue our diversification journey as we serve a growing share of the ocean industries community”, says President and CEO Ståle Hansen. Steady as she goes Chairman of the Board, Klaus Kjærulff, says “Shipowners need a strong insurance partner to meet the demands of society and industry for more sustainable operations”. Source: Skuld

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Middle East tanker attacks send ship insurance soaring

The recent spike in attacks on tankers near the Persian Gulf is inflating insurance premiums for ships transiting through the wider Middle East, increasing the cost of transporting oil from the region. Insurance rates for crude oil tankers loading in the Middle East are now up to 20 times higher following the latest attacks. A shipping insurance source said shipowners now have to pay 0.1%-0.4% of the vessel value in insurance, compared with 0.02% prior to the attacks. “Underwriters are terrified it will happen again over the next few days,” ...

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Incident in the Gulf of Oman

While the cause of the incidents that took place in the Gulf of Oman on 13 June 2019 has not been confirmed, all vessels, and tankers in particular, are advised to operate with a heightened level of security in the Gulf of Oman/Strait of Hormuz/Persian Gulf region. On 13 June 2019, two tankers suffered explosion incidents in the Gulf of Oman causing major damage to the vessels. Both vessels have been abandoned by the crew. Some reports indicate that the type and extent of damage experienced by the two vessels ...

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Ukraine: Revising ballast water regulations

Sampling of ballast water and analysing it for ecological control in Ukrainian ports has been an issue for some time. Our local correspondents, Dias Marine Consultancy, have advised us that the control of segregated ballast in Ukrainian ports has been cancelled and ecological inspectors are no longer permitted to inspect vessels for the purpose of “ecological control”, including taking and analysing samples of ballast water. Prior to the new rules, when visible traces of pollution were noticed during de-ballasting, ecologists were permitted to sample and analyse ships’ ballast water and ...

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Loading nickel ore in the Philippines or Indonesia

The mandatory notification requirement for the carriage of nickel ore loaded in Philippines and Indonesia still applies. This important loss prevention initiative was introduced in 2012 and allows early interaction with ship operators and an opportunity to reduce the risks presented by this cargo. Liquefaction of mineral ores, resulting in cargo shift and loss of stability, has been a major cause of marine casualties for many decades and the loading and carriage of nickel ore from Indonesia and the Philippines have been a concern for almost a decade now. In ...

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Norway prepares for ratification of the Nairobi Wreck Removal Convention

The Norwegian Parliament recently decided that Norway shall ratify the Nairobi Wreck Removal Convention and that the Convention shall be given effect not only in Norway’s exclusive economic zone, but also in its territorial waters. The Norwegian Parliament also adopted legislation to implement the Wreck Removal Convention into Norwegian law once ratified. The legislation, which was adopted in December 2018, will, as expected, introduce a dual system where the national rules on wreck removal will continue to be in effect and the Convention rules will be introduced as a parallel ...

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Electronic (Paperless) Trading

Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platform) This circular informs Members of the approval by the International Group of P&I Clubs (the Group) of Global Share S.A. edoxOnline platform. Members may recall, as reported in Circular of 27 October 2015, that until February 2010 the Rules of all of the Group Clubs specifically excluded liabilities in respect of the carriage of cargo under all electronic, i.e. paperless, trading systems to the extent that the liabilities under such systems would not have arisen ...

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Global Goals, Ocean Opportunities – reflections on public and private ocean governance

Gard participates in the United Nations Global Compact Action Platform for Sustainable Ocean Business. The Platform is taking a comprehensive view of the role of the ocean in achieving the UN’s 17 Global Development Goals. The aim is to explore attractive, viable solutions and best practices for sustainable use and management of humanities’ greatest ’common’ – our ocean. In December 2018, Gard was asked to join the editorial board for the Ocean Opportunities Report and Erika Lindholm and I took on the challenge. The report was released this week as ...

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Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platform)

This circular informs Members of the approval by the International Group of P&I Clubs (the Group) of Global Share S.A. edoxOnline platform. Members may recall, as reported in Member Circular no. 7/2015, that until February 2010 the Rules of all of the Group Clubs specifically excluded liabilities in respect of the carriage of cargo under all electronic, i.e. paperless, trading systems to the extent that the liabilities under such systems would not have arisen under a ‘normal’ paper system i.e. one using transferable paper documentation. From 20 February 2010 liabilities ...

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US threatens imposition of sanctions on countries that buy Iranian oil

In November 2018, the US government granted waivers known as Significant Reduction Exemptions (SREs) to eight countries that had committed to significantly reducing the purchase of Iranian oil: China, India, Italy, Greece, Japan, South Korea, Taiwan and Turkey (pursuant to Section 1245 of the National Defense Authorization Act 2012). The SREs, which were granted for 180 days, expired on 2 May 2019. The US government has confirmed that the SREs will not be renewed, which is part of their policy to bring maximum pressure to bear against Iran in order ...

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The Shipowners’ Club announces charity partnership with The Mission to Seafarers

The Shipowners’ Club, the leading mutual P&I insurer in the small and specialist vessel sector, has today announced a strategic partnership agreement with international seafarer welfare charity The Mission to Seafarers. As part of the agreement, the Shipowners’ Club has been named 2019 Gold Sponsor for the Mission’s ongoing Seafarers Happiness Index, bringing greater scale to the programme and allowing the Mission to reach more seafarers across the globe. The addition of The Shipowners’ Club’s extensive networks and resources will enable the Mission to create a truly global image of ...

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North P&I Club Named ‘Legal Department Of The Year’ At Northern Law Awards

North P&I Club’s in-house Corporate & Legal Team has been named ‘Legal Department of the Year’ at the recent Northern Law Awards. The award recognises their outstanding work in delivering a solution to ensure that all business divisions within the North Group can continue to successfully operate in a post-Brexit landscape. The complex legal solution was delivered on time and within budget across multiple jurisdictions. The team were also recognised for taking a leading role in their industry – resulting in North being the first P&I Club in the maritime ...

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Fishing off the side of the vessel – permits may be required

Fishing off the side of the vessel while anchored in port may be a common and relaxing recreational activity for seafarers. However, many national waters require fishing permitsin order to fish and have restrictions on the number and types of catches. Vessels may also be required to disclose all fresh fish products on board and their origins. Local authorities in South Africa have been cracking down on illegal fishing in a bid to protect the country’s marine resources. The Department of Fisheries and Forestry (DAFF) has also appointed inspectors to ...

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