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Statistics released at the International Union of Marine Insurance Annual Spring meeting in Hamburg have raised a series of issues that will continue to challenge marine underwriters for the foreseeable future.

The frequency of major vessel casualties rose again in 2016 for the second consecutive year reports the International Union of Marine Insurance. They had enjoyed a year-on-year decline until 2015 when they recorded a sharp upturn which was continued in 2016.

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The National Transportation Safety Board (NTSB) has concluded its investigation and has issued a full report about the incident on the towing vessel Spence, which caused it to list badly before finally sinking. The incident occurred on 14 December 2015 about 115 nm north of Cartagena, Colombia.

The NTSB report says that the list increased despite efforts by the crew to correct it. Consequently, the captain activated the vessel’s emergency position indicating radio beacon (EPIRB), and the crew climbed onto the barge that the Spence was towing. The towing vessel sank shortly thereafter. US Coast Guard District 7 received the EPIRB alert and directed the Coast Guard cutter Decisive to the scene. On arrival, the Decisive rescued the four crew members from the drifting barge. Three crew members sustained non-life threatening injuries.

Continue reading “NTSB issues investigation report about the towing vessel Spence which sank in 2015”