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Ship Insurance

Shanghai’s Pudong Shipping Hub is Bullish

Pudong New Area Night View by Pudong New Area Government

 Shanghai’s Pudong New Area has made progress in building an international shipping center last year and the opening-up reforms in the city’s free trade zone (FTZ) have lured another six global ship management firms to dock there, reports Shanghai Daily.  So far, six overseas ship management companies have been set up in the zone after China for the first time allowed wholly foreign-funded companies to operate in the sector in the FTZ.   There are six more firms from Germany, Singapore and Hong Kong in the process of establishing subsidiaries in the zone.   Ma Hongqi, head of the service office of Pudong’s shipping department, said that ship management was the core sector of the shipping industry that drives the development of the upstream and downstream sectors. Her department will continue to boost the sector after the Shanghai zone is expanded, she added.   Pudong is the new economic engine of Shanghai, majority of Shanghai modern city landmarks are located in this district. In some way, Pudong represents the whole Shanghai and the 30 years’ achievements of Shanghai in the aspect of economy and reform.   Pudong also witnessed the creation of an international shipping service innovation zone, a shipping finance base and a shipping insurance center last year.  


Trawlercat Introduces Anti-Piracy (PEV) Design

purpose-designed anti-piracy personal escort vessel (PEV).

Trawlercat Marine Designs of New Westminster, British Columbia, Canada is seeking joint venture partners to join them in building their purpose-designed anti-piracy personal escort vessels (PEV). Trawlercat Marine’s president, Captain Graham Pfister states that “Individual PEV’s can chase pirates away from unarmed and even armed ships. They can prevent groups of pirates from “swarming” and getting close enough to fire their weapons and cause injuries


Australia to Inspect All Single-Hull Tankers

All single-hulled oil tankers visiting Australian ports will be subject to increased inspections, under new measures to protect the marine environment announced today. The Deputy Prime Minister and Minister for Transport and Regional Services, John Anderson, said further protection would come through the introduction of legislation to increase the amount of compensation following an oil spill to $480 million. Anderson said the Australian Maritime Safety Authority (AMSA) has upgraded its


Noble Denton Honored

Noble Denton Group has joined an elite group of British businesses as it secured 59th place in this year’s Sunday Times Deloitte Buyout Track 100 list. Now in its second year, the prestigious league table ranks Britain’s top 100 private equity-backed mid-market companies with the fastest growing profits (EBITDA) over two years. The research analyses the profit performance of private equity-backed companies, rather than just the buyout deals.


Denmark Updates Insurance Claims Requirements

Ships without P&I insurance for maritime claims must inform the Danish Maritime Authority about their insurance Danish ships with a gross tonnage of or above 300 without a Certificate of Entry in a P&I Club from the international group of P&I clubs must inform the Danish Maritime Authority about alternative insurance for maritime claims before March 31, 2014. Danish ships with a gross tonnage of or above 300 must carry a certificate confirming that insurance has been taken


American P&I Club 100 Day Initiative

AMER CLUB MSTR LogoWEB.jpg

The American P&I Club is this month launching an ambitious initiative aimed at feeding 100 needy families for 100 days in embattled Greece, as well as supporting children with special needs. In a link-up with three long-established charities in Greece, the club will launch its campaign at an evening roof garden reception in central Athens on Thursday, May 31, to mark the start of Posidonia 2012 that will take place the following week.


Former DHS Chief Ridge Introduces Cyber Solutions

Former U.S. Homeland Security Secretary Tom Ridge

First U.S. Homeland Security Secretary Tom Ridge Partners with Five Lloyd’s Syndicates to Offer ‘Intelligent’ Cyber Insurance. Ridge Insurance Solutions Company to close dangerous cyber insurance gap by providing informed-assessment capabilities and insurance.   Companies struggling to protect their assets and brands from the growing scourge of cyber attacks can now access a new product designed specifically for their needs


PVA Advises On Terrorism Insurance

The Passenger Vessel Association (PVA) recently distributed the following to advise its members regarding terrorism insurance. The shocking events that occurred on September 11 took all of us by surprise. Since then, we've all started to ask ourselves some basic questions that will help us to protect our companies, property, and employees from further harmful situations, if they should occur. One of these important protective elements is insurance.


Michael Else & Company Launch New Insurance Cover

Michael Else & Company, manager of the Charterers P&I Club and Transmarine, has launched a new product to provide innovative insurance solutions worldwide for small and medium-sized multimodal transport operators and shipping intermediaries such as freight forwarders, NVOCCs and ship agents.     The new product, Portside Insurance Management Services operates as a brand within Michael Else & Company’s existing structure and the security is provided 100 per cent


Mitsui Marine, Sumitomo To Merge By April 2002

Sumitomo Marine & Fire Insurance and Mitsui Marine & Fire Insurance agreed to merge by April 1, 2002, in a move that would create Japan's largest non-life insurer. With combined assets of $51.7 billion, the merged company will outstrip current industry leader Tokio Marine & Fire Insurance, whose assets stand at $48.5 billion. Analysts say the merger will accelerate consolidation in the sector, where competition is intensifying, due mainly to the deregulation of insurance premiums in July 1998


MN 100: Continental Underwriters, Ltd.

Chairman of the Board: H. Elder Brown, Jr.

The Company: Continental Underwriters, Ltd. is a national, multiline firm for all types of marine coverage. The firm offers both admitted and non-admitted products in all 50 states, packaged in flexible, competitively priced insurance options with broad terms and conditions for even the most


MN 100: Gencorp Insurance Group

Gencorp.jpg

The Company: Gencorp Insurance Group provides the Insurance and Surety needs of Marine Contractors, Vessel Operators and Shipyards throughout the country and Caribbean. Gencorp’s Marine Group facilitates the coverage placement and claims settlement for all insureds


SUNY Maritime to Host e-Navigation Conference

SUNY Maritime College will host the 2015 e-Navigation Underway North America Conference September 28-30 in New York   It is likely that regions like the Baltic, the North Sea, the Strait of Malacca, Torres Strait and other areas will implement e-Navigation services that modern ships


Marine Claims & Casualty Investigation Conference

  HINODE Maritime Events is conducting the "Conference on Handling Marine Claims and Investigating Marine Casualties". According to the organisers, the program which is scheduled to be held on Wednesday, September 2, 2015 at the Vivanta by Taj - President, Cuffe Parade


Tianjin Explosion Highlights Growth of Accumulation Risks

The recent catastrophe at the port of Tianjin in China resulted in the loss of at least 100 lives and many more people are still missing. It is far too early to speculate on the cause, but the explosions left extensive physical damage as well as the appalling loss of life.  


Allianz, Zurich See Tanjin-Related Claims

The Chinese units of European insurers Allianz and Zurich Insurance Group said on Friday they received claims for unspecified damages from customer companies in the northeast city of Tianjin after two huge explosions in the port. The pair said they are now assessing potential losses.


Pon Holdings Acquires Imtech Marine

Pic: Imtech Marine

 Pon Holdings BV will take over part of the bankrupt Royal Imtech, a leading company in the global maritime market.   Dutch engineering services company Imtech Marine will continue to operate independently after the acquisition. Parcom Capital is also partnering in this acquisition


LOC Opens Paris Office

Courtesy LOC-Paris

  LOC, a leading global marine and engineering consultancy for the shipping and offshore energy industry announces the expansion of its European operations with the opening of its Paris office today (4 August 2015). The office is the first LOC operation based in France and is accessibly


SBM Offshore Completes $1.55 bln FPSO Financing

SBM Offshore announced it has today completed the project financing of FPSO Cidade de Saquarema for a total of $1.55 billion, marking the largest project financing in the company's history.    Project financing was secured by a consortium of 16 international banks with insurance cover


Mombasa Port Workers End Strike

MSC Aurelie alongside berth No.16 in Mombasa. Photo: Kenya Ports Authority

 Mombasa, Kenya port workers end strike and returned to work on Friday after being warned they could lose their jobs, reports Reuters.   However the members of the Trade Union Congress (TUC-K) said protests over changes to their health care costs could resume next week and aims to push


New Binding Law of The Sea Agreement Advanced

  WOC Sustainable Ocean Summit (Singapore, 9-11 November 2015) Will Enable Industry to Organize its Input to this Major New Ocean Treaty Development The U.N. General Assembly (UNGA) last week adopted a formal resolution to develop a legally-binding treaty for the conservation of marine


NITC Tankers Chart Western Course

Sourena is a FSU for Iranian crude export located in the Persian Gulf, south of Iran. Photo: NITC

 Iran’s largest shipping company NITC, the privatized Iranian shipping company, is in talks for permission to sail in Western waters, says a report in WSJ.   NITC has amassed the world’s largest fleet of super tankers and is in talks to sail back into western waters should


KPA: Striking Mombasa Port Workers Must Return by Friday

The Kenya Ports Authority said on Thursday striking workers at the Mombasa port should resume work by Friday morning or lose their jobs, and that normal activities at East Africa's biggest port will resume July 6. The workers are disputing higher deductions for the government's national health


Noreco Ink Deal with Denmark Partners

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  Norwegian Energy Company ASA announces that it has reached an agreement with its joint venture partners in Denmark with respect to its forfeited licences and related abandonment liabilities. Noreco has terminated its joint venture and its participation in the Nini and Cecile oilfields


Kenyan Port Workers Strike Over Higher Health Costs

More than 2,000 workers at East Africa's biggest port in Kenya's coastal city Mombasa went on strike on Wednesday protesting an increase in the amount they will have to pay for state-run health insurance.   Cargo ships remained unattended as workers gathered and held discussions in groups






 
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