Following its assessment of activity at this year’s Monaco Yacht Show, Dwight Tracy & Friends Yacht Sales announced expansion of its program for representing new construction shipyards, both in the U.S. and Europe. According to DT&F founder and CEO Dwight Tracy, “The current strength of the euro against the U.S. dollar, and the current situation in our domestic new yacht market, makes this a time of opportunity for European yacht buyers in search of first-quality vessels. The key, however, to a successful buying experience is to have representation that is knowledgeable and experienced. We’ve positioned ourselves with a New Build Program that is led by a former CEO of world renowned new build shipyard, Palmer Johnson Yachts. So, when we say that DT&F can deliver to a client the best and most successful new yacht purchase experience available, we really can. No ands, ifs, or buts.” According to New Build and Refit Program director Phil Friedman, the latest DT&F initiative is an omnibus menu of value-added services that includes initial concept development to project planning, build team coordination, project management, owner representation, and ancillary support in the areas of finance and insurance. Noted designers, naval architects and engineers, shipyards
The US Court of Appeals for the Seventh Circuit ruled that, under Michigan law, a builders risk insurance policy is a form of inland marine insurance and is controlled by the statute of limitations applicable thereto. For our purposes, the decision is probably most interesting in its historical analysis of the insurance industry and the division of casualty insurance into two large groups: fire insurance and marine insurance
By Sharon Donovan When maritime liens turn up, an unsuspecting vessel owner and the lender can be left in the wake of a deal gone sour. But thanks to a new form of title insurance tailored to the maritime industry, owners, lenders and lawyers who might have green-lighted the transaction with a legal opinion are insulated from the potential risk. First American Transportation Title Insurance Co., a member of The First American Corp
Maritime Administrator William G. Schubert today announced that the Maritime Administration (MARAD) is now accepting applications for war risk insurance to cover commercial ship operations in the Middle East. President Bush authorized the Department of Transportation (DOT) to provide the insurance at the request of Transportation Secretary Norman Y. Mineta. U.S.-flag vessels are eligible, as are ships owned by U.S. companies
Moore Stephens has further strengthened its regulatory advisory capability with the appointment of John Westlake as compliance manager. John Westlake has a broad perspective of the insurance industry acquired through a variety of roles, which has enabled him to support insurers and brokers in establishing effective compliance solutions. He has a strong commercial background, having acted as operations director with a personal lines insurer
Drydocks World, a service provider in the maritime industry, has announced the formation of the Dubai Council for Marine and Maritime Industries (DCMMI), a specialized non-profit trade and industry council to promote the interests of the marine and maritime industry in Dubai and the UAE. DCMMI represents a wide cross-section of the UAE’s marine and maritime industry such as Offshore & Engineering, Ship Repair & Maintenance, Shipbuilding & Conversion, and Rig building
Willis has named Chris Engstrom CEO of its Seattle office, one of the global insurance broker's leading U.S. operations. Engstrom brings tremendous local market knowledge and 16 years of insurance industry experience. He previously served as senior vice president for Wagle Insurance Companies in Seattle.
NMMA in conjunction with Lauderdale Marine Center (LMC) and the National Fire Protection Committee on Spray Finishing, recently drafted and approved a new standard which reduces the fire risks of spray painting large objects, including yachts in temporary membrane enclosures. Temporary membrane enclosures are used in the marine industry to paint yachts that are too large to fit in a spray booth. The standard not only makes painting safer but eases the concerns of fire marshals and regulators
P&I Insurance Seminar for Owners and Charterers held in Mumbai DGS Marine, a global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I Facility, has advised Indian shipowners to consider the benefits of fixed premium P&I cover. DGS Marine spoke at a P&I Insurance Seminar held in Mumbai, India last week and jointly hosted by DGS Marine Group and the British European and Overseas (BE&O) P&I Facility
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, utilizing a team that has a Maritime Academy background or professional waterfront experience. Ask any group of Owners to design and build a full service insurance brokerage with all of the services and resources that they
Satcom Global has announced the launch of three new exclusive postpay voice and data bundles for the Inmarsat Fleet One service. Fleet One brings cost effective satellite communications to small vessels including yachts and fishing vessels, through a compact
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
A man found guilty of making numerous hoax calls to the U.K. Coastguard has been jailed for four months, the U.K. Maritime and Coastguard Agency (MCA) reported. Alasdair Munro, 55, from Kyleakin, Skye, denied all charges before Sheriff Scott at Portree Sheriff Court on August 27, 2015
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
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
Transas’ chart plotter and AIS Viewer navigation app iSailor, available to iOS device users since 2010, is now also available in an Android version. Described as an easy-to-use navigational system for amateur seafarers, Transas said iSailor is used by hundreds of thousands of
Yacht service, refit, repair and maintenance yard Marina Barcelona 92 (MB’92) has awarded a contract to Pearlson Shiplift Corporation (PSC) for the design and supply of a new shiplift and transfer system as part of an expansion project underway at the Barcelona shipyard.
New Zealand Customs Minister Nicky Wagner says mid-winter marks the end of another successful yacht season, with many of the remaining international yachts departing at the end of last month. "57 superyachts visited between April 2014 and March 2015
Italian builder Filippetti Yachts has unveiled the brand new Navetta 35 design. The new design is principally on a three-deck design -Lower, main, upper with an open air sun deck area. The 35 metre project has been developed to adhere to the strictest environmental standards
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.
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.
A new masterpiece from Beiderbeck Designs: in Taiwan, the yacht designers from Bremen are using the technical platform of a 33-metre long Horizon motoryacht for their latest commission for an experienced German owner. They are combining maximum comfort and all-round visibility at all levels in a
Dometic Marine, a division of Dometic Group, a global provider of leisure products for the marine, truck, RV and automotive markets, announced it will showcase its new XTC-ZTC Double-Pass Watermaker at the International Boatbuilders’ Exhibition and Conference (IBEX), Sept
PONANT Yacht Cruises & Expeditions has appointed GAC UK as its agent for all United Kingdom and Ireland port calls in 2016. PONANT’s 142m and 132 cabin megayachts Le Boréal and L’Austral will cruise around the British Isles and Ireland, including the Scilly Isles
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