Risk Management
Strategizing Connectivity for Fleet Optimization, Remote Ops
Chris Sepp, Vice President of IT at Atlas Corp. (Seaspan), explains how a strategic approach to connectivity, as recommended by Inmarsat, can help shipping companies to realize fleet-wide optimisation, automation and enable remote operations.Digital technologies are becoming an established feature of modern shipping and are critical to the industry’s future success. Capabilities such as AI-enhanced voyage management and IoT-backed condition-based maintenance can make a significant contribution to the optimization and automation of vessel operations…
DNV Aims to Bolster Maritime Cyber Defense with Acquisition of Applied Risk
DNV will acquire industrial cyber security specialist Applied Risk, aiming to build the world’s largest industrial cyber security practice.Cyber threats to the maritime community is a large and growing problem, with the maritime industry experiencing a 400% increase in attempted attacks between February and June 2020, according to Naval Dome. As proven by well-publicized examples in recent years, recovery can cost hundreds of millions of dollars and can effectively shutter global operations for extended periods.In January 2021…
New Online Marine License Insurance Program
Mariners looking for insurance have a new option that is touted as being fast and affordable, cared for immediately in an online format that is designed to be more expedient than ever.360 Coverage Pros launched a new Marine License Insurance Program for mariners that offers an entirely online buying experience combined with low monthly payment options and instant proof of coverage.Until now, the process of securing a marine license insurance policy involved requesting quotes,…
Interview: Martin Kits van Heyningen, CEO, KVH
Connectivity is the backbone of modern maritime operations as ships and boats at sea increasingly become connected. We recently met with Martin Kits van Heyningen, CEO, KVH, to discuss the evolution of communication in the maritime sector and so much more, as KVH is diverse and engaged in a number of markets -- including autonomy for 10 years with work on about 30 different platforms for self-driving vehicles.To start, give us a “State of KVH” today.We started originally in the leisure market…
HKCYIA & Voyager: Superyacht Services in HK
The Hong Kong Cruise and Yacht Industry Association (HKCYIA) signed a Memorandum of Understanding (MOU) with Voyager Risk Solutions Ltd to support its risk and insurance management services for superyachts, with full scale professional solutions that are expected to promote its upcoming initiatives in the development of the yacht and tourism industries in the Greater Bay Area.The move was made in view of the rapid development of the global yacht industry and the surging demand for superyacht management services in Hong Kong.The MOU signing ceremony…
AFECO Expands into Superyacht Market
AFECO is expanding its presence in the superyacht market with a range of unique bespoke wastewater treatment management and support packages tailored specifically for the superyacht sector. The company recognises that the superyacht sector faces unique wastewater management challenges. Issues can arise as a result of the complexity of wastewater treatment systems, which are getting more complex due to the tightening of effluent consents. Process problems can occur due to mechanical inconsistencies, the result of needing bespoke systems in order to fit a vessel’s layout.
Bandy Creek Boat Harbour Dredging Complete
BMT JFA Consultants (BMT), a subsidiary of BMT Group, an international maritime design, engineering and risk management consultancy, recently completed the project management and supervision of the 2015 Bandy Creek Boat Harbour Dredging works. This campaign was undertaken as part of the state-wide maintenance dredging program which has been managed by BMT for the Western Australian Department of Transport (DoT). After the adverse weather conditions that hampered production in the 2013 session…
Rivergate Wins Marina of the Year Award
Rivergate Marina has won the 2015 Commercial Marina of The Year (up to 140 boats) award, as presented by the Marina Industries Association. The award recognizes outstanding marinas in Australia and internationally which have achieved success through exemplary business practices within the Marina Industry. Marina’s considered for the award were judged across ten categories, including general overview, vision and goals, marketing activities, customer service and satisfaction, environmental responsibility…
XL Offers KRE Cover to Yacht Owners
To help yacht owners navigate increasingly risky waters, XL Group is adding a Kidnap, Ransom & Extortion (KRE) Crisis endorsement to ShipShape, and ShipShape Plus, its recreational marine insurance coverages. "Crisis events like kidnapping, disappearance and hijack are increasingly real threats, especially on open seas," explained Denise Balan, Country Manager of XL's US Crisis Management business which developed the KRE endorsement. According to Rick Salway, Vice President of XL Group's Recreational Marine business, "Our ShipShape insurance pulls together the most relevant…
Piracy Offshore Africa: Securing a Continent
The late Nelson Mandela once said: “I dream of an Africa which is in peace with itself.” At the EU-Africa summit in Brussels last month, European leaders urged their African counterparts to facilitate that dream by shouldering more of the security burden in their countries, both onshore and offshore. The summit coincided with reports of renewed piracy activity in the Gulf of Aden; ongoing attacks on shipping in the Gulf of Guinea, and explosions and mass arrests in Kenya, all serving to underline the scale of that challenge.
Port Accidents are Avoidable
Speaking this week at the industry forum, ASEAN Ports and Shipping in Ho Chi Minh City, Vietnam, TT Club’s Regional Director for Asia Pacific, Phillip Emmanuel, showed evidence that a very high percentage of the insurer’s claims were due to some kind of operational error. The majority could have been avoided through good management practice. Emmanuel highlighted the main areas of concentrated risk and presented effective recommendations to minimize these incidents. Leading transport and logistics insurer TT Club’s latest analysis of 9…
U.S. Recreational Boating Industry Gathers in Washington, D.C.
Employees from across all sectors of the U.S. recreational boating industry are gathering on Capitol Hill in Washington, DC today and tomorrow for the annual American Boating Congress (ABC) to advocate on behalf of the industry’s 350,000 workers and 82 million boaters. With the unofficial start to boating season just under a month away on Memorial Day weekend, ABC gives members of the U.S. recreational boating industry a timely platform to meet with legislators and other decision makers on Capitol Hill, hear from prominent economic and political speakers and participate all while meeting with colleagues from around the country.
Washington State Ferries Explores LNG as Fuel
“WSF burns more than 17 million gallons of ultra-low sulfur diesel each year – and it’s our fastest growing operating expense. LNG has the potential to significantly reduce emissions and the cost of fuel,” said Washington State Department of Transportation (WSDOT) Assistant Secretary David Moseley. LNG as a fuel is a promising, but new technology. To ensure that the safety, security and operational challenges of such a move is handled in a responsible manner, Washington State Ferries has partnered with DNV…
Shipping Operating Costs Rise 2.1%
The findings are set out in OpCost 2012, Moore Stephens’ unique ship operating costs benchmarking tool, which reveals that total operating costs for the three main tonnage sectors covered – bulkers, tankers and container ships – were all up in 2011, the financial year covered by the survey. Both the bulker and tanker indices increased by 3 index points (or 1.7 per cent) on a year-on-year basis, while the container ship index (with a 2002 base year, as opposed to 2000 for the other two vessel classes) was up 5 index points, or 3.1 per cent.
