Speaking recently at the IUMI (International Union of Marine Insurance) conference from Chicago, Rama Chandran, chairperson on the Ocean Hull Committee, expressed concern over the long-term sustainability of the hull and machinery insurance sector.
He said: “Whilst it is encouraging to see the 2021 premium base growing from the previous year we face deteriorating loss ratios, albeit from a low 2020 base. Premium base has only recently begun to creep upwards following a sustained decline since 2012. The increase of 4.1% is lower than the 6% seen last year and the reducing quantum is a worrying trend. This is likely due to increased market capacity, particularly from London and Latin America which is a surprise for many.” Continue reading “Hull and machinery underwriters have significant challenges ahead”
The International Cargo Handling Coordination Association (ICHCA) has published a safety brifing document to offer advice into some of the safety principles associated with safe lifting of ISO containers and tanks using hooks and wires.
The National Transportation Safety Board (
Emerging onboard carbon capture (OCC) technology is explored in a new publication from ABS in its latest support for the maritime energy transition. Launched at the global trade fair for Shipbuilding, Machinery and Marine Technology (SMM), Insights into Onboard Carbon Capture examines the various methods of OCC as well as carbon handling and storage and downstream considerations, as well as regulatory issues.
