Marine link
 

Yacht Insurance

DT&F: Expanding New Yacht Construction Business in U.S.

DT&F_Sorcha_152_crop1 web.jpg

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


Builders Risk Policy Serves as Inland Marine Insurance

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


Vessel Title Insurance Helps Protect Assets

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


DOT Offers Insurance For Commercial Ship Owners

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 Strengthens Regulatory Advisory Team

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 spearheads the launch of DCMMI

Khamis Juma Buamim addressing the meeting

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


Engstrom is Named Willis' Seattle CEO

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.


Proposal on Spray Painting Passes

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


DSG Marine Asks Shipowners to Consider Fixed Premium P&I Cover

Photo courtesy of DSG Marine

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


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, 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


Lucas Marine, Harbor Breeze Cruises Partner to Cut Fuel Costs

Photo courtesy of Harbor Breeze Cruises

Lucas Marine is partnering with Harbor Breeze Corporation to help reduce the yacht charter and cruise company's fuel costs, maintenance and environmental impact in Los Angeles and Long Beach Harbors.   Harbor Breeze is one of the largest yacht charter and cruise companies operating within


Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies have worked together in ship insurance and ship brokerage. These partnerships are to be intensified and extended to other ship


MV WERFTEN, Foreship Sign Design Agreements

Signing Endeavor

MV WERFTEN signed a letter of intent with the engineering company Foreship in Stralsund today. The agreement includes parts of the basic design as well as design, purchasing and production assistance of the “Endeavor” class luxury expedition yachts


Hammond New International Sales Manager, Fairline Yachts

Robert Hammond

British luxury motor yacht manufacturer, Fairline Yachts, announces Robert Hammond as its new International Sales Manager. Robert will be responsible for Fairline's global sales operations and managing its worldwide dealer network.   A former military pilot, Robert


MTA Grows Portfolio with Magnificent Seven

Maritime Training Academy are adding to its portfolio of training courses with the addition of seven new Diplomas, confirming its position as a world leader in the provision of distance learning training within the maritime industry. The seven new training courses cover Maritime Firefighting


Med-Black Sea Oil Tanker Rates Weaken After Failed Coup in Turkey

The cost of shipping oil through the Black Sea and Mediterranean fell on Monday after a failed coup in Turkey over the weekend and shipping sources said there were no disruptions through Istanbul's vital Bosphorus Strait.   More than 290 people were killed and around 1


C. Raymond Hunt Associates Celebrates 50 Years

(Photo: C. Raymond Hunt Associates)

C. Raymond Hunt Associates, a boat design firm that continues to expand on the legacy of its founder, C. Raymond Hunt, to produce innovative boats with rugged seaworthiness, is now celebrating its 50th year.   “Ray Hunt was a genius


Servowatch to Debut New Software at SMM

Image: Servowatch

Integrated ship control systems supplier Servowatch said it will use SMM to launch its new automation and control software, WINMON 9.   WINMON 9 is a singular, end-to-end software solution which offers several new features, according to the developer


Kali Acquires Florida Marine Power Company

Image: Wave Marine Services

 Kali, Inc. has completed its acquisition of Florida Marine Power Company, a marine mechanical repair, maintenance and engine installation company.    Kali acquired all of the outstanding stock of Florida Marine Power in exchange for 4 million shares of Kali's common stock. 


First Damen SeaExplorer Sold

SeaXplorer at Antartica Photo Courtesy Damen

AMELS and DAMEN have sold the first DAMEN SeaXplorer expedition yacht. The world premiere of this range of 65, 90 and 100-meter ‘true explorer’ designs took place last September at the Monaco Yacht Show. The SeaXplorer 65 is a crossover between professional technology and superyacht


Braemar Adjusting agrees Strategic Partnership in S. America

Logo

Braemar Adjusting has agreed a strategic partnership with Beckett Liquidadores de Seguros S.A of Chile, to act as its local resource partner in a number of countries in South America. Braemar Adjusting provides Loss Adjusting, Risk Assessment


Yacht Computer Service Expands its IT Service

Photo: Yacht Computer Service

 Any maritime business equals to demanding clients. And not to forget the crew – from any position upwards. As long as everything works, life on board is great.    TV or entertainment systems on any vessel are an absolute must, working at 100%. Most of the time they do


CMA CGM Shipped 17,000 Tons of Goods for the Rio Olympics

Photo: IOC

Before the Olympic flame was lit in the Maracanã stadium on Saturday, August 6, worldwide shipping group CMA CGM had transported thousands of containers of goods and equipment to Rio, having begun its shipments for the 2016 Olympic Games in December 2015.  


Gulf Coast Shipyard Delivers MY Imagine

M.Y. Imagine (Photo: GCSG)

Gulf Coast Shipyard Group (GCSG) has delivered the Motor Yacht Imagine.  The M.Y. Imagine, a Trinity built yacht, is a 193’x 32’x 14’6” custom designed semi-displacement aluminum hull and superstructure vessel that was constructed in GCSG’s yard located in New


MN100: Advanced Mechanical Enterprises

Image: Advanced Mechanical Enterprises

The Company: AME President Richard Merhige has pioneered the use of lasers in the marine industry.   The Case: AMEsolutions.com is comprised of Advanced Mechanical Enterprises/AME and Advanced Maintenance Engineering/AME, comprehensive marine and industrial engineering services companies






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright