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Risk Management

DNV Launches Risk Management Software

Structured and analytical risk management have direct effects on a company’s ability to build a competitive advantage.   To support organizations with one complete solution for managing operational, project and enterprise risk DNV Software has now incorporated the risk management tool EasyRisk Manager with the Synergi Life risk and QHSE-management solution. It provides a real time snapshot of a company’s risk picture. The focus of organizations on risk management has increased due to extended governmental requirements, increased demands for transparency and sustainability and compliance towards standards. As structured and analytical risk management has direct effects both on profit, reputation and the environment, handling risk on a strategic and on an operational level is a key factor for building a competitive advantage. This web-based software ensures that risk managers can base their decisions on real time information. To provide one complete web-based solution that covers all risk and QHSE requirements the EasyRisk Manager-functionality is now incorporated into the Risk Management module in the Synergi Life application. EasyRisk Manager is therefore no longer continued as a separate brand. “Our risk management software – including software for process risk, occupational risk, qualitative and quantitative risk management – is now complemented with the leading tool for operational, project and enterprise risk management


Crowley’s Menard Promoted to VP of Risk Management

William Pennella, vice chairman and executive vice president of Crowley Maritime Corporation, announced today that Dwight Menard has been promoted to vice president of risk management effective Dec. 1. Menard will be responsible for the company’s global insurance program; management of Beacon Insurance Company, Ltd; supporting the risk management and insurance requirements of Crowley’s four business lines; allocation of insurance cost and administration/management of the claim


Ridge Teams Up with iJET for Security Training

Tom Ridge, President and CEO of Ridge Global

Ridge Global, an international provider of security and risk management services, and iJET University, a provider of risk management training curricula and solutions, announced that the two companies will collaborate to offer instructor-led training for executives and decision makers with security responsibility. Specifically, iJET University will offer Ridge Global’s flagship corporate security and resiliency training courses to its broad base of international clients and members.


ABS to Host Offshore Wind Seminar

ABS Group will host an Offshore Wind Farm Projects Seminar on October 8 at ABS House, 1 Frying Pan Ally in London. ABS Group advisors who are involved in solving technical issues in offshore projects will share their experience regarding issues throughout the entire life cycle of a project. Participants will have the opportunity to discuss industry wide technical issues, particularly in structural engineering, asset integrity management and risk management with ABS Group experts during the


Failure to Manage Risk Posing Larger Threat to Shipping

Levels of sound enterprise and business risk management are currently satisfactory in the shipping industry, a new survey from Moore Stephens has revealed. But the international accountant and shipping adviser warns that companies that fail to embed effective risk management procedures into their daily activities are likely to pay a high price in today’s tightly regulated and highly competitive industry.  


Petrobras to Appoint Director

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Petrobras’ Board of Directors approved at a meeting today (25 Nov.) the appointment of a director of Governance, Risk Management and Compliance, charged with ensuring process compliance and risk mitigation, including the risk of fraud and corruption, and therefore guaranteeing compliance with laws, norms, standards and regulations, including the rules of the Comissão de Valores Mobiliários (CVM - Brazilian Securities and Exchange Commission) and U.S


Interim Guidelines on Maritime Cyber Risk Management Approved

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The  Maritime Safety Committee of the International Maritime Organisation at its ninety sixth session (11 to 20 May 2016), having considered the urgent need to raise awareness on cyber risk threats and vulnerabilities, approved the Interim guidelines on maritime cyber risk management. These  Guidelines  provide  high-level  recommendations  for  maritime cyber risk management.For the purpose of these Guidelines


BOEM to Modernize Financial Assurance and Risk Management

Walter Cruickshank, Ph.D., Acting Director

  The Bureau of Ocean Energy Management (BOEM) today issued an Advanced Notice of Proposed Rulemaking (ANPR) on Risk Management, Financial Assurance, and Loss Prevention to seek public input as it considers modernizing its risk management program and bonding regulations for offshore oil and gas operations on the Outer Continental Shelf. This first step initiates a dialogue about BOEM’s existing regulations


Lloyd's Register Returns To Profitability

Lloyd’s Register Group announced full year results for the year ended June 30, 2001. Lloyd’s Register reports that operating profit for the 12 months at $35 million, with a record income up 11 percent at $519.2 million, which return it to profitability six months ahead of target. With the business restructured, Lloyd Register’s non-core activities were successfully exited. David Moorhouse, Chairman of Lloyd’s Register


Quimby Promoted at Tacoma

The Port of Tacoma recently promoted Janet Quimby to Director of Contracts and Risk Management. In this position, she is responsible for all Port purchasing, risk management programs, safety programs, and oversight of all Port contracts, including construction and consulting contracts in support of Port capital programs. "Janet has demonstrated an exceptional ability to coordinate complex programs," said Jeff Lincoln, the Port's Director of Facilities Development.


MN100: Safety Management Systems, LLC

Bill Mahoney (Photo: Safety Management Systems, LLC)

The Company: A leading US maritime consultancy established in 1996, SMSLLC provides practical risk mitigation solutions for vessel operators and stakeholders. Clients include a broad range of operators including Genesis Marine, American River Transportation Company, Seabulk Towing


Raising the Stakes on Maritime Performance

Image: SERTICA

A Danish software company has set out to help maritime companies facilitate growth in stormy waters.   The maritime industry is changing. Emerging technologies, increased regulation and CO2 concerns are pressuring ship owners, operators and technical managers


DNV GL Wins Verification Work for Wintershall

Photo: DNV GL

 DNV GL has been awarded a 5 year contract to provide in-service verification work for Wintershall Noordzee B.V.’s (WINZ) RAVN and A6-A platforms.   The two platforms based in the North Sea are the unmanned RAVN in the Danish sector and manned A6-A in the German sector


Protecting Sensitive Sea Areas in South-East Asia

Photo: International Maritime Organization

 Further progress towards identifying and designating Particularly Sensitive Sea Areas (PSSAs) in south-east Asia has been made during a regional meeting in Lombok, Indonesia (27-28 July).    Some 30 participants from Indonesia, Malaysia, Philippines


Friend of the Sea Turns to BMT for Reefer Vessels Certification

BMT Surveys (BMT), a subsidiary of BMT Group, the international maritime design, engineering and risk management consultancy, has been engaged by Friend of the Sea to investigate whether specialized reefer vessels comply with the broad set of requirements to qualify for certification. 


Shipping Must Disclose or Risk Being Exposed - Moore Stephens

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International accountant and shipping adviser Moore Stephens says the shipping industry must adopt a transparent, proactive approach to corporate governance or else risk exposure to business and reputational damage.   Corporate governance in shipping has been in sharp focus recently


BMT to Lead Repower for Historic USCG Eagle

The U.S. Coast Guard barque Eagle sails in the Atlantic Ocean on Thursday, July 30, 2015. (U.S. Coast Guard photo by Auxiliarist David Lau, Public Domain)

BMT Designers & Planners, a subsidiary of BMT Group, an international maritime design, engineering and risk management consultancy, is leading the effort to repower the historic U.S. Coast Guard training barque, EAGLE.   The $1.5M (approx


Gulf Petrochem Group Expands European Bunker Operations

Neil Lamerton (Photo: Gulf Petrochem Group)

Gulf Petrochem Group, the UAE based global bunker supplier, has announced that it is now officially offering physical bunker supply in the port of Rotterdam, out of its new office based in Dordrecht. The office will cater to the group’s global customers and provide them with a wide


ABS Advisory Solutions Integrate ERM

John Duncan, Vice President; Government, ABS Group of Companies. Photo ABS

 ABS Group anticipated the update to Circular A-123 from the United States (US) Office of Management and Budget (OMB) requiring US executive departments and agencies to adopt enterprise risk management (ERM), and has expanded its suite of ERM advisory solutions aimed at risk-informed decision


$307,500 PSGP Funding for Hueneme Port

The funds will enable the port to invest in systems that enhance its capabilities Photo Port of Hueneme

The Port of Hueneme announced that it will receive more than $307,500 in funds from the U.S. Department of Homeland Security (DHS) through the Fiscal Year 2016 Port Security Grant Program (PSGP). The funds will provide multi-functional applications protecting critical port and regional


USTC Delivers Near Record Profit

Image USTC

With profit before tax of DKK 480 million, Middelfart-based Selfinvest, which includes the global Group A/S United Shipping & Trading Company (USTC), is yet again filing an impressive set of financial statements. This was generated via record results in several of USTC’s subsidiaries


Maritime Piracy: More "sophisticated and prevalent” around Gulf of Guinea

(Source: Oceans Beyond Piracy)

While the matter of maritime piracy has seemingly subdued from its high profile peaks of a few years ago, Stuart Edmonston, Head of Loss Prevention at UK P&I Club, together with Hellenic War Risks and Terra Firma Risk Management, highlight the growth of piracy in the Gulf of Guinea and


US Provides $100 Mln in Port Security Grants

File photo: Port of Baltimore

Homeland Security Secretary Jeh Johnson announced final allocations of $275 million for six fiscal year 2016 U.S. Department of Homeland Security (DHS) competitive preparedness grant programs, including $100 million for the Port Security Grant Program (PSGP).  


MAST, AMSA Partner for Risk Management Services

Phil Cable (Photo: MAST)

Maritime security company Maritime Asset Security Training (MAST) has announced their partnership with Astbury Marine Services & Associates (AMSA), a specialist shipping and insurance response business.   The combination of front-line experience and industry knowledge place MAST and


IMB: Beware Commercial Impact of Cyber Attacks

Courtesy ICC

The International Maritime Bureau (IMB) is asking shipping and maritime companies to be vigilant to the potential commercial impact that cyber-attacks can cause. IMB says that cyber security is not only about trying to identify and to prevent systems on board ships from getting hacked or






 
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