With the publication of the first Britannia sustainability report, the P&I Club is defining the starting position of its sustainability initiative and roadmap for the future. The report outlines how Britannia P&I is embedding the management of climate related risk into its business strategy and integrating sustainability into its core processes.
Climate change represents a material financial risk to all regulated firms and the financial system. Britannia P&I, as an insurer, is equally exposed to this risk. However, sustainability encompasses not only climate change but also informs a company’s overall approach to improving corporate social behaviour and demands sound corporate governance. The Britannia sustainability report seeks to apply environmental, social and governance (ESG) concepts to all the strategic choices and operations of the Club. Continue reading “Britannia sustainability report published for the first time”
For centuries the great port cities analysed in the recent Xinhua-Baltic International Shipping Centre Development Index report were built on the confluence of trade, people and ideas. Centred around ships and the presence of their owners, managers and charterers, maritime clusters steadily grew across Europe, Asia and the Americas. A combination of talent, time-zone, geography, expertise and government policies has helped locations such as Singapore, London and Shanghai thrive. Successful clusters combine the experience and size of established companies with the energy and drive of smaller and start-up firms. Collectively they have consistently delivered innovation, jobs and tax receipts.
The Swedish Club in its monthly safety bulletin describes a case history about the cargo hold flooding which was attributed to a tank missing a gasket to the manhole. Also, the bilge sensor was broken and heavily corroded, although it had been inspected a couple of days previously and found at the time to be in good condition.
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To minimize risk and improve port safety, three of the cargo handling industry experts have produced an information paper Collision Prevention At Ports & Terminals. Experts from international freight transport insurers, TT Club, together with cargo handling industry experts ICHCA and PEMA share the latest technologies to detect and prevent collisions to promote safety.