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IUMI’s 2024 analysis of the global marine insurance market

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IUMI’s 2024 analysis of the global marine insurance market has been published
IUMI’s 2024 analysis of the global marine insurance market has been published

IUMI has presented their Stats Report for 2024. Overall, the 2023 insurance year was positive for marine underwriters with market
development seen across all lines of business. World trade continued to grow which impacted positively on the global premium base, particularly for cargo insurance. The oil price appears to have stabilised which is good for the offshore sector.

Inflationary pressure has eased and many central banks are beginning to cut their interest rates, although this does not necessarily have an immediate effect on vessel repair costs. Apart from some inflation impact on hull repair costs, the claims environment was also relatively moderate in 2023, with no major weather Continue reading “IUMI’s 2024 analysis of the global marine insurance market”

Merchants, mariners and mavericks Lloyd’s Agents, the first 200 years

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Lloyd’s Agents the first 200 years has been published
Lloyd’s Agents the first 200 years has been published

Throughout time, every country, every community, every business and every home has needed insurance in one form or another. Society could not function as it does without it. With each new direction taken by trade and industry, insurance has adapted to deliver new protections and provide a safe springboard for future development.

Despite its value, the nature of insurance has also often been misunderstood. Insurance has always been based on analysis, research and the scientific study of risk. In other words, on information. Continue reading “Merchants, mariners and mavericks Lloyd’s Agents, the first 200 years”

INTERCARGO Annual Review published

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INTERCARGO Annual Review for 2023/4 has been published,
INTERCARGO Annual Review for 2023/4 has been published,

INTERCARGO Annual Review for 2023/4 has been published, shedding light to initiatives and addressing critical challenges, including the implementation of IMO’s net-zero emissions target, maritime security concerns in the Red Sea region, and the implementation of the Ballast Water Management Convention.

The Association’s Chairman Dimitri Fafalios reflected on key developments during 2024, including the August launch of the Dry Bulk Centre of Excellence (DBCE) and its DryBMS portal, demonstrating the sector’s dedication to operational excellence. Continue reading “INTERCARGO Annual Review published”

Canal & River Trust appoints independently led Commission to review future framework for boat licensing

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Independently led Commission appointed to review future framework for boat licensing
Independently led Commission appointed to review future framework for boat licensing

Over the past 30 years there have been significant changes in the use of the 2,000-mile canal network in the UK managed by the Canal & River Trust. The Trust has announced it has established a new Commission to review the legal framework around boat licensing, to explore whether it is appropriate for the network’s future.

The Commission will start its review in January and is expected to run until September 2025. Continue reading “Canal & River Trust appoints independently led Commission to review future framework for boat licensing”

Proper stowage of mixed cargoes on bulk carriers

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Shipowners have the responsibility to ensure that the vessel is suitable and fit for purpose to carry break-bulk cargo, containers, and project cargoes
Shipowners have the responsibility to ensure that the vessel is suitable and fit for purpose to carry break-bulk cargo, containers, and project cargoes

The American P&I Club has raised concerns that have arisen regarding the loading of finished and unfinished steel products alongside break-bulk, containerized, and project cargoes in the same cargo hold of bulk carriers.

Examples of break-bulk, containerized, and project cargoes include large, heavy, oversized items, machinery parts, crates, and heavy-duty wheeled items such as trucks, cranes, or pay loaders. Unlike vessels dedicated to carrying break-bulk, containerized, or project cargoes, bulk carriers are not fitted with suitable lashing and securing arrangements.

The irregular sizes, shapes, and weights of such non-pure-bulk cargoes are challenging to safely lash and secure, and typically require makeshift arrangements. Continue reading “Proper stowage of mixed cargoes on bulk carriers”

MAIB voices “serious concern” over Red Sea dive boat accidents

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Red Sea dive boat accidents are a big concern for MAIB
Red Sea dive boat accidents are a big concern for MAIB

The UK Maritime Accident Investigation Branch (MAIB) has shared an update on Red Sea dive boat accidents.
The MAIB has been notified of three accidents within the last 20 months affecting UK citizens on Egyptian dive boats operating in the Red Sea. These include: Continue reading “MAIB voices “serious concern” over Red Sea dive boat accidents”

EMSA Annual Overview of Marine Casualties and Incidents 2024

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Dive of a ROV on 12th September 2023. Credit: EMSA
Dive of a ROV on 12th September 2023. Credit: EMSA

The EMSA has published its Annual Overview of Marine Casualties and Incidents 2024, which presents statistics on marine casualties and incidents that cover the period from 1 of January 2014 to 31 of December 2023.
In 2023, most of the indicators, such as the number of occurrences, ships lost, fatalities or injuries, are near or below the average values for the entire period from 2014 to 2023.
In 2023, 2,676 marine casualties and incidents were reported, which represent an increase of 49 marine casualties and incidents compared to 2022 and a decrease of 66 marine casualties and incidents compared to 2021. Continue reading “EMSA Annual Overview of Marine Casualties and Incidents 2024”

MAIB report into fire on board ro-ro ferry

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MAIB publish report about fire on board ro-ro ferry
MAIB publish report about fire on board ro-ro ferry

At 2115 on 11 February 2023, a fire broke out in the engine room of the roll-on/roll-off passenger ferry Stena Europe while on passage from Rosslare, Ireland, to Fishguard, Wales.
The fire on board ro-ro ferry caused significant damage to the engine room but nobody was injured and there was no damage to the environment. The fire was extinguished by the crew.

Safety issues
• The fire ignited on a main engine when pressurised fuel from a loose fuel pipe connection sprayed onto a high temperature exhaust pipe. Continue reading “MAIB report into fire on board ro-ro ferry”

Proactive measures to mitigate fire hazards including thermal imaging

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Operators should implement proactive measures to mitigate fire hazards
Operators should implement proactive measures to mitigate fire hazards

The American P&I Club urges operators to implement proactive measures such as maintenance and thermal imaging to mitigate fire hazards. Thermal imaging inspections are highlighted as an effective tool by the American Club in identifying early heat signatures caused by electrical faults, which could escalate into a fire if left unchecked. Fires of this nature often stem from one or a combination of three primary causes: electrical system failures, machinery malfunctions, and human error.

Although the likelihood of a fire may be low, specific conditions, such as defective thermal insulation on hot surfaces combined with localized fuel or oil leaks, can create a serious fire risk. Additionally, the complexity and number of electrical connections onboard vessels Continue reading “Proactive measures to mitigate fire hazards including thermal imaging”

DNV on energy efficiency compliance after alterations or conversions

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The EEXI requirement came into effect on 1 January 2023
The EEXI requirement came into effect on 1 January 2023

The EEXI requirement came into effect on 1 January 2023, and all affected ships should now comply. To maintain compliance, any ship undergoing changes that affect its EEXI and/or EEDI may need to recalculate these.
What is a “major conversion”?
Under MARPOL Annex VI (Regulation 5.4), the Energy Efficiency Existing Ship Index (EEXI) and, if relevant, the Energy Efficiency Design Index (EEDI), must be recalculated and surveyed on board in the event of a major conversion, as defined in Regulation 2.2.17. Continue reading “DNV on energy efficiency compliance after alterations or conversions”

RightShip releases revised vessel inspection age trigger timeline

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RightShip has announced a revised timeline for implementing its vessel inspection age trigger
RightShip has announced a revised timeline for implementing its vessel inspection age trigger

RightShip has announced a revised timeline for implementing its vessel inspection age trigger, reducing the inspection threshold from 14 to 10 years through a four-phased approach.
The initial announcement of the inspection age trigger in October 2024 garnered valuable feedback from stakeholders. Constructive dialogue with RightShip’s customers and respected industry associations – including INTERCARGO, the International Chamber of Shipping (ICS), and the Union of Greek Shipowners whose membership represents a substantial portion of the global dry bulk and general cargo fleet – has been instrumental in refining the approach to align with operational realities while reinforcing our shared commitment to safety. Continue reading “RightShip releases revised vessel inspection age trigger timeline”

MAIB report: Man overboard from potting vessel Pioneer with loss of 1 life

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The skipper of the UK registered potting vessel Pioneer (NN200) accidently entered the water as the vessel was heading back to its beach standing
The skipper of the UK registered potting vessel Pioneer (NN200) accidently entered the water as the vessel was heading back to its beach standing

On the morning of 29 July 2021, the skipper of the UK registered potting vessel Pioneer (NN200) accidently entered the water as the vessel was heading back to its beach standing in Hastings, England. Pioneer’s sole deckhand was unable to pull him back on board and the skipper was later recovered from the water with the help of a rescue helicopter’s winchman and airlifted to hospital, but he could not be revived.

The MAIB investigation found that Pioneer had a low bulwark at its aft deck, which did not prevent the skipper’s fall into the water. At the time of the accident neither the skipper nor deckhand were wearing a personal flotation device, although two were available on board. Continue reading “MAIB report: Man overboard from potting vessel Pioneer with loss of 1 life”

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