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21 Mar 2022

American P&I Club Announces Leadership Change

Joe Hughes and Dorothea Ioannou (Photo: American P&I Club)

After 27 years’ service as Chief Executive Officer of Shipowners Claims Bureau, Inc. (SCB), the Managers of the American P&I Club, Joe Hughes will stand down from that role on August 1, 2022. Dorothea Ioannou, currently Deputy Chief Operating Officer of SCB, will succeed Hughes as CEO from that date, making history as the first woman to ascend to the top executive position of an International Group P&I club in the 167 year history of the marine mutuals.At the same time, Vince Solarino will step down as Chief Operating Officer of SCB, Inc.

12 Jan 2017

Insurance Gaps Leave Shipping Exposed to Cyber Attacks

Ships exposed through GPS systems, have limited back-up; cyber insurance typically doesn't cover jamming, property damage. Shipping companies grappling with the threat of cyber attacks on vessels are finding insurance policies often fall short, officials involved in both industries say, a risk that could feed through into global prices. Digitalisation means electricity networks, emergency services, industry and agriculture are all vulnerable to hacking by criminal gangs for extortion or, for political reasons, by militant groups or foreign states. But ships are also exposed to interference through electronic navigation devices such as the Global Positioning System (GPS) and lack the backup systems airliners have to prevent crashes.

25 Aug 2015

SUNY Maritime to Host e-Navigation Conference

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 transiting these areas will be required to subscribe to. This will have the effect of requiring such ships to implement e-Navigation even without a formal IMO carriage requirement. Ships transiting the St Lawrence Seaway are already using e-Navigation services. The U.S., too, is making plans to implement certain e-Navigation Services in its coastal and inland waters. The maritime insurance industry is starting to realize that proper implementation of e-Navigation will improve their general average and is considering avenues to encourage their customers to implement e-Navigation.

01 Jul 2015

SUNY Maritime to Host e-Navigation Conference

The e-Navigation Underway 2015 – North America conference will be hosted by The State University of New York (SUNY) Maritime College from September 28 to 30 on the college’s Throggs Neck, N.Y. campus. The conference’s theme is: “Reducing Risk through E-Navigation,” which follows the pace of the IMO’s Correspondence Group on e-Navigation. The keynote speaker will be Joseph Trotti, CEO of AIG Global Marine and Aerospace, and Francis Zachariae, the new Secretary General of the International Association of Marine Aids to Navigation and Lighthouse Authorities (IALA) and formerly the deputy director general of Danish Maritime Authority (DMA), will be the luncheon speaker on the conference’s final day. Other confirmed speakers include Tracy Murrell, Director Office of Marine Safety, U.S.

19 Feb 2015

Stolt-Nielsen Secures $250m Financing

Stolt-Nielsen Limited has closed a $250 million private placement with American International Group (AIG).   The private placement has a term of 10 years and is secured by the Stolt-Nielsen’s terminal in Houston.    Proceeds from the notes will be used to repay existing financial indebtedness and for general corporate purposes, Stolt-Nielsen said.

25 Aug 2014

DMR Sees US Container Terminal Sector M&A Flurry

M&A (Merger & Acquisition) activity in the US container terminal sector is currently at its highest level since the boom time of the mid-2000s. However, whilst the type of buyer is largely similar to what it was, the rationale for pursuing today’s deals is different, considers Drewry Maritime Research (DMR) in their latest 'Container Insight Weekly'. The US container terminal sector has seen numerous high profile deals so far this year.Most of the parties on the buy side of the deals are infrastructure and financial players – the same type of buyers that were most active in acquiring US terminals in the mid-2000s. Their aims and motivations today though are somewhat different to what they were.

21 Jul 2014

IBIA Appoints New Events & Membership Manager

The International Bunkering Industry Association (IBIA) says it has appointed Stephen Hoare as its new events & membership manager at its Southampton office. The role involves developing the association’s conferences, seminars and dinner as well as growing its global membership base. Welcoming Stephen Hoare’s appointment, IBIA Chief Executive Peter Hall said: 

“Stephen has a strong professional background in developing events and membership. He has great international experience and will help build our portfolio of professional events and membership around the world. IBIA adds that Stephen Hoare previously ran his own professional event management company and worked in events related roles for AIG – First Advice, MGM Assurance and HL Partnership.

20 May 2014

Large Yacht Fire-fighting: Upcoming Resolve Symposium

Resolve Maritime Academy informs it is to participate with industry leaders in a discussion at Roscioli Yachting Center, Fort Lauderdale, Florida, on new techniques and training in fighting fires aboard large yachts. Resolve explains that in conjuncture with MES, Bullard and PyroLance, they will be discussing large yacht shipboard firefighting methods. As technology and techniques grow and evolve, it is important to stay abreast of current and future trends in order to minimize risk and damage. This symposium provides an opportunity to learn about these new skills and methods directly from industry leaders. Attendees will learn about new technology…

06 Dec 2013

American Club Strengthens Management

Michael Hansen

The American P&I Club is reorganizing its underwriting and business development functions into a regionalized structure comprising the Americas, EMEA (Europe, Middle East, Africa), South and Southeast Asia, and Greater China and North Asia. “The more focused application of resources created by this new structure is intended further to improve service delivery to members, brokers and the club’s other business associates,” Joe Hughes, chairman and ceo of managers Shipowners Claims Bureau Inc.…

19 Nov 2013

AIGCAF Loans Chouest $400m for New Vessels, Refinancing

Edison Chouest Offshore

AIG Commercial Asset Finance (AIGCAF) and its affiliates have provided a $400 million loan for vessels owned and operated by Nautical Solutions, LLC, which is an operating unit of Edison Chouest Offshore (Chouest). Proceeds from the loan were used to refinance existing notes and to provide for the construction of new vessels. Kirk Phillips, Senior Vice President of the Direct Finance Group at AIGCAF, said that due to AIG’s extensive experience in offshore marine and energy lending, AIGCAF was able to creatively and quickly meet Nautical Solutions’ needs.

29 Jul 2013

IMUA Intro to Commercial Inland Marine Course 2013

The Inland Marine Underwriters Association (IMUA) announced the 2014 dates for its Introduction to Commercial Inland Marine course. The two-day Introduction to Commercial Inland Marine course will be held at IMUA Headquarters, 14 Wall St., NYC, on September 19 & 20, 2013 from 9 a.m.-5 p.m. This two-day introductory course is designed to cover the basics of commercial inland marine insurance, with emphasis on the largest/key inland marine classes of business. “This intense two…

13 Jun 2013

IMUA Names Award-winning Marine Underwriter

Gina Domitrovich, AMIM, Senior Marine Underwriter, AIG Global Marine & Energy, is the first recipient of the new American Marine Claims Award, by Inland Marine Underwriters Association’s (IMUA). The award presentation was made closing ceremonies during IMUA"s 83rd Annual Meeting held in Buckhead, Atlanta, GA. As the winner of the American Marine Claims Award, Ms. Domitrovich will receive a $2,000 cash award and a stipend towards attendance at the International Marine Claims Conference held in Dublin, Ireland. The Award based on the developments of several educational requirements including the preparation of an essay. The award is supported by the following marine insurance associations: the American Institute of Marine Underwriters (AIMU)…

29 May 2013

IMUA Elects New Slate of Officers and Board Members

Peter Opinante

Underwriters, brokers, claims personnel and key industry suppliers converged on the Intercontinental Hotel in Buckhead Atlanta last week for the 83rd Annual Meeting of the Inland Marine Underwriters Association(IMUA). With more than 275 in attendance, the meeting officially got underway with the election of a new slate of officers. Peter Opinante, Swiss Re America, who has served as the Association’s Chairman for the past year, was formerly inaugurated for a second term. Also elected to serve a second term were Deputy Chairperson Michelle Hoehn…

15 Mar 2011

TBS International Reports Q4 and Year 2010 Financial Results

DUBLIN, IRELAND, Mar 15, 2011 (MARKETWIRE via COMTEX) --TBS International plc (NASDAQ: TBSI) announced today its financial and operating results for the fourth quarter and year ended December 31, 2010. Joseph E. "The TBS results for the fourth quarter 2010 reflect the ongoing downward pressure on dry cargo freight rates that have continued into the first quarter of 2011, as evidenced by the Baltic Dry Indices. "The Baltic Dry Index ('BDI') which was at 2,446 on September 30, 2010 descended to 1,773 on December 24th (the last reporting date in 2010) and was at 1,559 on March 14, 2011.

11 Dec 2006

AIG Global to Purchase P&O's U.S. Marine Terminal Operations

On December 10, 2006, a member company of AIG Global Investment Group entered into an agreement in Dubai to purchase P&O Ports North America (POPNA) from P&O Holdings, Inc., a wholly-owned subsidiary of global marine terminal operator, DP World for an undisclosed price. East and Gulf Coasts and a passenger terminal in New York City. other customary conditions. quarter of 2007.

02 Oct 2006

Davis Surveying Acquires America-Pacific Group

Davis & Company, Ltd., a nationwide marine survey and engineering firm, has acquired the American-Pacific Group, a marine surveying firm based in Pine Grove, CA. Staff surveyor John DeMeter will be joining Davis there, bringing its number of California-based surveyors to four. James Neville, who had served as President of AmPac Ltd., is moving to AIG Global Marine as Assistant Vice President and West Coast Marine Loss Control Engineering Manager. With the acquisition, Davis has 56 offices and 100 personnel providing service across the U.S. and Canada. It is the 8th expansion for Lisle, IL-based firm in the past 4 years.

02 Sep 1999

AMO To Design Alaskan LNG Barges

Argent Marine Operations (AMO) has been contracted by Alaska Intrastate Gas Company (AIG) to design, develop, construct and operate barges to transport liquefied natural gas (LNG) from Prince Rupert, British Columbia to the Alaska panhandle, Gulf of Alaska and Kodiak region. The barges will be specially designed by AMO for the demanding conditions of the Canada to Alaska trade. According to Jay Gottlieb of Argent Marine Companies, of which AMO is a unit, "Because of the increasing availability of LNG on a world-wide basis, the development of smaller scale secondary markets for importation of LNG is becoming more feasible.