The change in ice conditions is opening the high Arctic as a trade route, fishing ground and potential tourism destination, but more infrastructure support is required to facilitate the provision of adequate insurance, says IUMI in a new position paper.
Harvey and Irma, two of the three powerful hurricanes which hit the Caribbean and southern US in 2017 along with Maria, resulted in damage of approximately 63,000 boats in the US alone, at a cost of an estimated $655 million, providing a clear reminder that traditional maritime risks should not be overlooked.
Nikos Kefalas, HSSE/QA Manager at LNG Shipmanagement provides his thoughts in risk assessment processes. Mr. Kefalas tries to identify how much risk a company can tolerate, saying that this process is complicated and dynamic, as different operation parameters, have to be taken into account.
Regional conflict and piracy threats continue to pose potential risks to commercial vessels operating in the Red Sea, Gulf of Aden, Arabian Sea, Gulf of Oman, and Indian Ocean, warned the US MARAD. US flagged commercial vessels are advised to avoid entering or loitering near Yemen’s Red Sea ports.
A Japanese research partnership, comprising Japanese shipping company MOL, MOL Techno-Trade, National Institute of Maritime, Port and Aviation Technology, and Tokyo University of Marine Science and Technology (TUMSAT), aims at developing an advanced navigation support system.
On 31 October 2017, the UK registered and commercially operated yacht ‘CV24’ ran aground on Cape Peninsula, South Africa. CV24 was abandoned and the crew was rescued uninjured. There was no pollution and the wreck was subsequently disposed of locally. UK MAIB issued an investigation report on the incident.
Businesses’ failure to manage the earth’s natural resources or “natural capital” has consequences that extend beyond environmental effects. A new report by Allianz Global Corporate & Specialty has categorized the transportation sector into the ‘danger zone’ in terms of natural capital risk exposure.
Rolls-Royce and French insurer AXA Corporate Solutions have signed a Letter of Intent to explore ways to bring a new offering to the marine market, utilising Rolls-Royce Ship Intelligence systems and equipment and AXA’s risk analytics capabilities. The products will be addressed to current sailing and future autonomous vessels.
On 27 January 2016, the Maltese-flagged passenger ship ‘Azamara Quest’ was en route to the port of Picton in New Zealand’s Marlborough Sounds, with 652 passengers and 394 crew onboard, when it hit a rock, causing hull damage. The TAIC issued a report on the accident, highlighting miscommunication issues of the bridge team.
The UK Health & Safety Executive have prosecuted Associated British Ports, accusing them for safety violations after a flexible intermediate bulk container, weighing 600kg fell and hit an employee. The company did not follow their own risk assessments, pleaded guilty and have been fined £666,000 and ordered to pay costs of £8688.23.
