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Tuesday, October 27, 2020

Risk Management News

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South Africa a Hotspot for Cargo Crime -Report

South Africa ranks among the top countries in the world, and first on the African continent, for BSI’s forecasted losses due to cargo theft, according to a report from freight transport insurer TT Club and business improvement company BSI.Historically, there is an inverse relationship between crime and economic growth in South Africa. However, this year, due to the COVID-19 pandemic and the impacts of lockdowns and a decline in the economy, an additional layer was added to that relationship.The economic decline…

Register now for the 2020 Maritime Risk Symposium
https://ciri.illinois.edu/events/11th-maritime-risk-symposium-2020. © George Dolgikh/AdobeStock

Maritime Resilience and the Human Element at MRS2020

Has the age of maritime discovery and exploration actually ended? Perhaps not exactly. As the history of maritime resilience and the human element shows, as far back as the 1500s and earlier, from using new navigational aids and improved ship designs, to coastal and inland route sailing, to navigating on open seas with uncertain charts, wayward icebergs, dense fog and luckily at times, clear starry nights, mariners have faced human element and maritime resiliency challenges. "Short of food and water…

Photo: West of England P&I Club

Hodgkinson to Lead West P&I Club’s Loss Prevention Department

West of England P&I Club said that Captain Simon Hodgkinson has been appointed as Global Head of the West’s Loss Prevention Department. He joins from Polarcus, where he was Head of Marine Operations and responsible for the performance of a fleet of ultra-modern seismic vessels. In addition to his work at Polarcus, Hodgkinson served on the DNV GL Technical Committee Middle East for six years and is a member of the Honorable Company of Master Mariners and the Nautical Institute.Hodgkinson will have global responsibility for leading the West’s Loss Prevention team of former Master Mariners…

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New AI-powered Predictive Maritime Intelligence Solution Unveiled

Predictive maritime intelligence company Windward announced the release of its next-generation Maritime Predictive Intelligence solution powered by Maritime Artificial Intelligence Analytics (MAIA️). Consisting of 10 billion datapoints and 300 behavioral analysis models, MAIA️ is designed to empower organizations to make smarter and faster decisions and optimize operations.According to Windward, recent sanction advisories from both the OFSI in the U.K. and OFAC in the U.S. highlight the need for a new global standard in maritime operations…

Pegasus Voyager (Photo: Chevron)

Chevron Tanker Receives ABS SMART-MHM Notation

ABS and Chevron Shipping Company LLC have embarked on a digital fleet management journey.As a first step, the Suezmax lightering vessel Pegasus Voyager has become the first vessel in Chevron’s fleet to qualify for the ABS maintenance optimization notation SMART-MHM (Machinery Health Monitoring), with more vessels expected to follow. The ship is also the first ABS-classed to receive the notation.ABS says this is just the beginning of the journey to condition-based maintenance for the Chevron’s fleet of 28 vessels.

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Project Cargo and Heavy Lifts in the COVID-19 Environment

The year 2020 has presented a litany of challenges to the safe movement of global project cargo. While heavy lifts and engineered cargo movements always present challenges from a rigging and execution standpoint, we have also faced exceptional challenges on other fronts. These have included cancelled vessel bookings, port facilities as well as prefabrication/modulization yard closures, lack of vessel and facility access as well as travel restrictions. At Allianz Global Corporate & Specialty (AGCS)…

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Jamaica Opens for Crew Changes and Repatriations

In order to enable crew changes, the Government of Jamaica (GOJ) has listed seafarers among the class of “essential workers” under its Disaster Risk Management Act and has put in place measures to speed up the transit of registered seafarers through its borders.An estimated 600,000 seafarers are waiting for crew changes – 300,000 on vessels and 300,000 waiting to embark – according to the International Transport Workers Federation (ITF). Many of those on board have been working for up to four months past their contracted dates while those waiting to embark are typically not receiving wages…

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Insurers Discuss Container Casualty Causes

Handling of steel boxes throughout the shipping, ports and logistics supply chain has historically grown exponentially, putting strains on a range of operational procedures and the physical hardware employed to handle the steel boxes, particularly onboard ships. A recent webinar organized by the Thomas Miller managed insurance mutuals, container freight specialist TT Club and protection & indemnity insurer, UK P&I Club, revealed the diverse range of factors important to safe container ship operations and the security of the container stacks they carry.

(Image: ABS)

ABS Unveils New Mobile App

Classification society ABS launched a new suite of fleet management and vessel compliance services powered by its smart functionality and advanced analytics which will also be available through a new mobile app.An enhancement to the ABS MyFreedom client portal, the new portal and digital tools are designed to simplify access to operational, technical and compliance fleet intelligence and all ABS Class services to manage fleet operating health and performance.New smart functionality launched today includes:The ABS Smart Scheduler…

Captain Havard Ramsoy, Vice President, Marine Operations and Safety, Genting Cruise Lines

Interview: Captain Havard Ramsoy, Genting Cruise Lines, Plotting the Return Course for Cruising

While COVID-19 has proven to be the biggest business disruption event in generations, for the once-booming cruise shipping industry it has meant a hard stop. Getting back to cruising will be neither fast nor easy. We reached out to Captain Havard Ramsoy, Vice President, Marine Operations and Safety, Genting Cruise Lines for insights on the path forward.Please give an overview of the Genting Cruise Ship fleet today, and COVID-19 and its impact on the Genting Cruise business.Throughout the unprecedented suspension of the global cruise passenger services due the COVID-19 situation…

The car carrier Golden Ray sits capsized in St. Simons Sound, Ga. (U.S. Coast Guard photo by Brian McCrum)

Total Shipping Losses Are Declining, But Challenges Persist -Report

The record low 41 large shipping losses worldwide in 2019 represents a 20% improvement year-on-year and almost 70% over a decade, but the coronavirus crisis could endanger the long-term safety improvements in the shipping industry for 2020 and beyond, as difficult operating conditions and a sharp economic downturn present a unique set of challenges, according to recent report from marine insurer Allianz Global Corporate & Specialty (AGCS).Consequences of coronavirus and a sustained…

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American P&I Club, ABS Consulting Partner on Cyber Awareness

Collaboration between risk management and insurance sectors will focus on education, training and guidance to reduce maritime cyber riskABSG Consulting Inc. (ABS Consulting), a subsidiary of ABS focused on safety and risk management, and American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) have joined forces to provide education, training and insurance guidance that address maritime cyber security.As digital transformation in the maritime industry brings both opportunities and new challenges…

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New Zealand Biofouling Study Includes Random Hull Checks

As many as 40 cargo vessels arriving in New Zealand will be subject to random hull checks as part of a study aiming to build a profile of vessels that are most likely to be contaminated with foreign marine species. The ships randomly selected to take part in the survey will be required to undergo a dive inspection and answer questions about biofouling.“Biofouling poses a grave biosecurity risk to New Zealand’s marine environment. We know that nearly 90% of marine pests arrive in this country as biofouling on the submerged surfaces of international vessels…

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Hospital-grade Infection Risk Management Applied to Ships

Managing infection risk during the COVID-19 pandemic requires a new approach to disease control and prevention.A new infection risk management approach has been developed by DNV GL to assess, manage and mitigate infection risk in management systems, business processes and operations. My Care incorporates local regulations and guidelines – it can be applied to any vessel type, as well as terminals.My Care’s suite of independent assessment services is designed to help businesses…

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Pandemic Forces Ship Owners to Shelve Scrubber Installs

Ship owners are postponing or canceling the installation of “scrubbers” that extract harmful sulphur emissions from their vessels as the coronavirus pandemic tightens finances.Regulations from United Nations agency the International Maritime Organization (IMO), which took effect in January, were viewed by the oil and shipping industries as one of the first worldwide efforts to enforce environmental change.The rules aimed to make ships use fuel with a sulphur content of 0.5%, compared with 3.5% previously.

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Insurance Company Launched to Focus on Maritime Cyber Threats

A new insurance services business has been launched to protect maritime companies from cyber threats. Offering risk management, underwriting and analytics, Astaara Company Limited said it aims to modernize this area of the insurance industry."The insurance business is behind the times when it comes to cyber threats to maritime companies. It is only by listening to and responding to what the maritime community needs that you can create a solution that is relevant and necessary…

Nina Østergaard Borris, Mia Østergaard Nielsen and Torben Østergaard-Nielsen (Photo: USTC)

The Next Generation Takes Ownership in USTC

First financial steps have been made to cement the planned succession process of Torben Østergaard-Nielsen’s global shipping group United Shipping & Trading Company (USTC), based in Middelfart, Denmark.The next generation in the family-owned business, daughters Nina Østergaard Borris and Mia Østergaard Nielsen, have become co-owners via the parent company Selfinvest. In the future, they will take even greater part in the active ownership of the group.With more than 2,500 employees distributed on 101 offices in 33 countries worldwide…

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Shanghai Exchange Unveils Trading Rules for LSFO Futures Contract

China's Shanghai International Energy Exchange (INE) published rules for the low-sulphur fuel oil (LSFO) futures on Wednesday, according to the exchange's website.The new futures contract, which will be launched on June 22, will be traded at 10 tonnes per lot, according to the Shanghai bourse.The INE, a subsidiary of the Shanghai Futures Exchange, said daily price limits of LSFO futures are at 5% from the settlement price of the previous trading session and the minimum trading margin is 8% of the contract value.The launch of LSFO futures will help with companies' risk management in the industr

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RightShip Launches New Safety Score

Maritime risk management and environmental assessment organization RightShip launched its new Safety Score in response to industry feedback that called for more transparent methods of assessing vessels.RightShip said it has spent the last two years working in collaboration with stakeholders from across the shipping industry. The new Safety Score provides a metric that is explainable, transparent and only includes factors which are in the control of the operator, to help support improved safety across the maritime sector.The Safety Score will be housed on the new RightShip Platform…

(Photo: Fednav)

Fednav Combines Its Shipping Business Units

Canadian bulk shipping company Fednav said Monday it will reorganizing its commercial and technical shipping businesses under one management entity.The Marine Department, led by Executive Vice-President Tina Revsbech, will unite the traditional Chartering and Operations teams with their counterparts in the Shipowning, Technical, and Arctic units.In addition, Fednav announced the appointment of Isabelle Brassard as Senior Vice-President, Logistics and Sustainable Development, effective September 2020.Reporting to Paul Pathy…

(Image: ChartWorld)

ChartWorld Launches Digital Voyage Planning Tool

ChartWorld has launched MyFleet, a free-of-charge cloud-based tool designed to support onshore teams to check and assess risk in a ship’s voyage plan,Following recent legal decisions, voyage plan due diligence by the vessel owner or ship manager has taken on increased, and urgent importance. Oliver Schwarz, ChartWorld’s Business Development Director, said, “A ship being ‘at sea’ is no longer a viable or legal defense for lack of shore-based oversight. Improvements in communications…

Explorer Dream under the Dream Cruises brand is the first cruise vessel undergoing DNV GL's new certification in prefection prevention. (Photo: Genting Cruise Lines)

DNV GL Launches Infection Prevention Certification for Maritime

Classification society DNV GL launched a custom infection prevention certification aiming to help the maritime industry resume operations better prepared for COVID-19 or other emerging pathogens. Genting Cruise Lines is the first customer working toward the CIP-M certification for its cruise ship Explorer Dream under the Dream Cruises brand.As the coronavirus crisis begins to recede and the world begins moving to return to business, the cruise industry is sharpening its already strong focus on passenger health and safety.

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Crew Training for a Future that Includes Autonomous Vessels

As we continue to contemplate a future with ships transitioning to automated and autonomous operations, the need for new and innovated crew training will only increase. Our current and future ship crews will need to straddle both new and existing vessel operation technology. This will present challenges, but ones that the industry can address in a proactive manner.Traditionally, maritime skills have changed slowly and new technology was assimilated on the fly in many cases. The Merchant Marine was a place where you learned on the job.

left to right, Capt. Kyaw Myint (SONGA HAWK master), Mijo Banicek (Songa Ship management electrical superintendent), Jeoung-kyu Lim and Sang-hoon Choi from KR’s Cyber Certification Team.  (Photo: KR)

KR Certifies First Cyber Security Compliant Vessel

Korean Register (KR) has completed a comprehensive cyber security survey of the chemical/oil tanker SONGA HAWK and has certified the ship to be fully compliant in all areas, the very first ship to achieve the certification.Songa Ship management manages and operates 18 chemical/oil tankers and five semi-submersible vessels. The company signed a cyber security contract (valid for five years) with KR in 2018, covering its fleet of 23 vessels.KR conducted a cyber security audit of Songa Ship management and certified the company to be fully compliant in all areas in 2019…

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Business and Personnel Considerations in the Age of Autonomous Ships:

There is much talk among maritime professionals about how automation and autonomous vessels will make the industry safer. In truth, innovation will be driven by the bottom line and will take time before it is commonplace in the industry. Early examples are likely to be limited to smaller vessels and coastal waters. Autonomous ships are predicted to reduce human error, a major driver of accidents, but crews will still have an important role on board vessels for the foreseeable future.Recent TrialsIn December 2018…

Risk Management with a Mouse Click

Risk Intelligence provides security data, information, analysis and assessment to enable safe navigation in areas of risk in an increasingly uncertain world.Since its founding in 2001, Denmark-headquartered security information specialist Risk Intelligence has developed a fully integrated risk assessment and planning tool that provides valid, actionable intelligence to any fleet, on land, in port or at sea, 24/7/365. The company has three information and intelligence products that together assess security risks at sea…