Bowtie News

The Oil Companies International Marine Forum (OCIMF), the voluntary association of oil companies, announced it has overhauled its committee structure to focus its resources on identifying and mitigating issues of highest-risk to its members and to the marine industry. While its scope of operations and remit remains the same, OCIMF’s strategy places a renewed emphasis on the way it identifies, analyses and assesses the issues that have the biggest impact on the safety of lives, the natural environment and property.

Iranian Offshore Oil Company (IOOC), a subsidiary of the National Iranian Oil Company, has successfully launched its first offshore pipeline integrity management system (PIMS) in the Iranian oil industry.According to IOOC, the system was launched in order to comply with international and national requirements for the standard, safe and continuous operation of the Salman Oilfield’s gas pipelines with a Norwegian company and the Pipeline Technology Company.The project is dubbed as the first of such projects in the Iranian offshore oil industry, said a report in Iran News.A Pipelines Management System (PMS) provides a clear process, with tasks and responsibilities…

The UK Club has launched its “iPANDI” iPad based app to provide up to date underwriting information for members and their insurance brokers, even when on the move. The iPANDI app downloads underwriting data via the Club’s IT systems and presents it conveniently in both graphic and table formats. The data can be viewed off line, for example on planes or away from the office. Security is maintained by a unique licence key to access member information. The licence key is only entered once to initiate the data download to the iPad.

The UK P&I Club highlights sudden loss of power as a cause of claims. The UK P&I Club’s latest Risk Focus bulletin highlights the issue of sudden loss of power, a problem highlighted by incidents during and after the switching to lower sulphur fuels that are now mandated in certain coastal regions. In the bulletin, the Club highlights causes of sudden loss of power and proposes mitigating procedures that ships’ crew should adopt. The Club reveals that main engine failures or electrical blackouts now amount to 7% of its third party claims property damage in US$ terms.

The UK P&I Club takes a BowTie approach to risk management. Marine mutuals like the UK P&I Club are committed to reducing the number and size of insurance claims they receive. After all, in the P&I world, members own their respective clubs and through pool arrangements within individual clubs, they in effect pay their own claims. The smaller the level of claims, the healthier the club becomes and this has a knock-on effect on the cost of insuring through the club. After much study and only after in-depth trials with certain shipowners…