Loss prevention expert said that, while there may well be some who believe that GA is no longer fit for the modern maritime world with ever larger vessels, it still needs to be understood.
Safety & Regulation
Capacity has been withdrawn from the insurance market following retrenchment in the sector after a year of catastrophes.
Agility is not usually a word associated with the International Maritime Organization (IMO), but attendees at the 70th anniversary celebratory forum at the IMO debated the often-glacial adoption of new regulation, how it was to be brought about, and if it is necessary to deliver a faster pace at the industry’s major regulator.
Gard’s net result came in at USD193 million, which is down by 11% year on year, but still the third-highest over the past 10 years, while the main driver behind its strong performance was investment income.
The ferry Sewol, now lying on its side in Mokpo port, will be set upright on 10 May to conduct a final search for the remains of five missing victims.
New US sanctions regime poses potential risks for Iran’s port, tanker, and container ship sectors.
The biennial East Asian Insurance Congress is under way in Manila, and Lange said IUMI was already building on the discussions in Singapore and was keen to spread the message of closer co-operation with the region.
Separate regulations addressing emissions and vessel speeds are working against harbour pilots at US East Coast ports.
Heavy weather and leaking hatch covers are the most common and costliest type of wet damage claim, with the average cost for bulk carrier wet damage topping almost USD110,000.
One owner believes that public money is being put into LNG and shore power and that neither of these developments will help the industry meet the required GHG limits.