New Tidal Wave Energy Device Completes Sea Trials
In the continuing quest to harvest efficient, renewable energy from the power of the world’s tides, an organization called Sustainable Marine Energy’s announced that its PLAT-O tidal energy platform has successfully completed its first field trials. Despite the tremendous power and predictability of the world’s waves and tides, efforts to successfully build and bring to market a device to harness, store and transmit power in an efficient manner have been largely unsuccessful in the commercial sense.
AVEVA joins OpenHCM Consortium
AVEVA, a leader in engineering design and information management solutions for the plant, power and marine industries, today announced it has joined the OpenHCM (Hull Conditioning Monitoring) Consortium, an initiative to increase ship safety though transparent electronic processing of assessment data for the in-service operation of ships and offshore platforms. The OpenHCM Consortium was formed to carry on the work started under the EC’s CAS projects to develop a neutral exchange standard.
TT Club's Reports Strong 2003
The TT Club, a provider of insurance and risk management services to the international transport and logistics industry, has reported another successful year for its financial year 2003. combined ratio - the underlying operating performance. 18% from US$326.3 million) were at their highest for five years. increased 10% from US$62.8 million to US$69.3 million. million to US$17.1 million. improvement of US$2.3 million. commented Sir David Thomson, Chairman of the TT Club. three-year quota share reinsurance with the same Group. transferring its business to the joint venture partner, BV-Unicon. results positive. minus rating as quickly as possible," he said.
TT Club Announces 2002 Results
The Board of TT Club has announced its financial year 2002 results. The Club posted a full year after tax surplus of $10.7 million (from a 2001 loss of US$40.2 million), supported primarily by a positive technical underwriting result of US$6.6 million (an improvement of US$35.5 million) and an increase in investment income. As a result the Club's free reserves (undiscounted) rose by 27 percent to US$50.2 million. Sir David Thomson, TT Club Chairman, commented: "The TT Club has faced and dealt successfully with a tremendous challenge in 2002. Our task was to protect the Club's solvency from any further decline after the difficulties of 2001 and I am pleased to confirm we have achieved this objective."
