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Improved Risk Management News

04 Oct 2022

Shearwater to Introduce Deepwater Dual-ROV OBN Deployment Vessel

Credit: Shearwater GeoServices

Marine seismic survey services specialist Shearwater GeoServices is set to introduce its first dual ROV seismic vessel, which the company says will be equipped with a broad scope of operational capabilities. "Designed to deploy ocean bottom nodes in both deep and shallow water, the vessel will also be able to provide high-quality source for surveys and conduct towed streamer surveys," Shearwater said.The dual ROV vessel, under Shearwater ownership and management, is expected to be available in the second quarter of 2023 following a conversion of the SW Tasman multipurpose vessel.

02 Jul 2018

MAC to provide Marine Assurance Services for Chrysaor

(Credit: Fifth Ring, Ltd.)

Maritime Assurance & Consulting (MAC), a Bureau Veritas company, has won a contract from Chrysaor for marine assurance services. The contract also includes engineering, DP assurance, marine warranty surveying (MWS), project assurance and compliance services. Chrysaor is focused on the development and commercialization of dormant oil and gas discoveries and incremental reserves. The company acquired stakes in 10 North Sea fields from Shell last year and was recently granted acreage in the UK’s 30th licensing round.

01 May 2018

MISC awards BV contract for Veristar AIM3D

Bureau Veritas (BV) has been awarded a contract by MISC Berhad (MISC) to deploy and support the VeristarAIM3D ‘software as a solution’ system to provide asset integrity services on selected MISC FPS systems:the Floating Storage & Offloading (FSO) vessel -FSO Benchama 2and the Floating Production, Storage & Offloading (FPSO) vessels - MaMPU1 and FPSO Cendor. Veristar AIM3D is BV’s sophisticated, full life-cycle Asset Integrity Management System, developed in partnership with Dassault Systèmes. Released in April 2017, it incorporates a unique combination of 3D enabling a digital twin of assets with smart data processing, via a connected platform to enabledata collection, updates, visualization,and data processing – with clear visibility through dashboards.

14 Feb 2018

P&I Clubs Strong But Pricing Under Pressure

Balance sheets of clubs operating in the marine protection and indemnity (P&I) sector are generally strong, bolstered by several years of positive earnings but underwriting discipline will be tested over the February 2018 renewal period, according to a new report by A.M. Best. The Best’s Special Report, “Balance Sheets of P&I Clubs Strong But Pricing Under Pressure Amid Strong Competition” states that ahead of the Feb. 20, 2018 renewal deadline, pressure from members and brokers to reduce rates is growing. Competition is intense, exacerbated by a growing fixed-premium market. Catherine Thomas, senior director, analytics, said: “Historically, clubs were able to use investment income, not only to enhance free reserves, but also to offset underwriting losses.

13 Mar 2017

The Perfect Storm of Digitalization and Commoditization

Frank Coles, Transas CEO (Photo: Transas)

Frank Coles, Transas CEO, delivered the keynote speech at the Transas Global Conference in Malta. We are faced with the perfect storm in the next few years. Many will conclude it is all the fault of President Trump, but in fact it is actually nothing to do with him. If anything he is going to enable the industry to think smarter because he is also bringing change. The perfect storm is the one confronting the maritime industry. It is one which will disrupt all elements of the shipping industry – is technology-driven and in some cases is also self-inflicted.

02 Feb 2017

Contship Italia Volumes rise

Contship Italia Group, Italy’s leading maritime container terminal and intermodal operator saw an increase in handled volume of 1.7% and 9.7% increase in transported volumes for 2016. The group’s Maritime Container Terminal business saw an increase of 109,000 TEUs in overall handling volumes in 2016, welcoming 6,888 vessel calls, up 4% year on year. Contship’s intermodal business reported an overall rise in transported volumes and directly operated number of trains. Innovative fast customs corridors, an improved load factor of domestic trains in the second half of the year, plus the increased routing of cargo via the southern gateway to south and central Europe, have all supported an increased market share of 25% in the Italian maritime intermodal business.

30 Aug 2016

DNV GL Launches New Approach to Manage Uncertainty in Risk Assessment

There is increasing emphasis from regulators on addressing uncertainty in risk assessments to improve safety. DNV GL’s new paper, ‘Enabling confidence – addressing uncertainty in risk assessments’, describes an improved risk management approach to achieve adequate safety levels whilst keeping costs under control. The new approach has been developed in collaboration with the University of Stavanger, Norway, and reflects recent developments in the risk science community. The paper is aligned with the thinking of the PSA in Norway, ISO 31000 and the Society for Risk Analysis. Marianne Hauso, Head of Section, Safety Risk Management, DNV GL – Oil & Gas says: “The way we conduct risk assessments must be adapted to the needs of decision makers and the challenges they face at any given time.

28 Jan 2014

The Arctic: Emerging Maritime Frontier

Capt. Jonathan S. Spaner

The Commandant of the United States Coast Guard, Admiral Bob Papp, Jr. spoke of the Arctic as an emerging frontier during the 2013 State of the Coast Guard Address in February 2013. He said, “… one example of what our future holds can be seen in the emerging frontier of the Arctic, where there is a new ocean appearing. In September 2012, we observed the lowest sea ice extent in recorded history, and there are vast areas of open water where there used to be ice…As the receding ice increasingly gives way to commercial ventures…

03 Jun 2013

DNV Urges Increased Safety Focus in Shipping

Tor Svensen, Chief Operating Officer Asia Pacific and President DNV Maritime and Oil & Gas

Increased focus on ship safety is DNV’s main priority when identifying critical issues in shipping. An extended focus on risk-based rules, safety barriers and identifying high-risk areas are means to enhance safer shipping. “Together with GL, we will have the power to take the lead in heading for these targets,” said Tor Svensen, Chief Operating Officer Asia Pacific and President DNV Maritime and Oil & Gas. The merger between DNV and GL was announced in December last year. Through the power of 17…

20 Dec 2012

New Initiative on Container Yard Safety

Three leading exponents of improved risk management in ports and container handling facilities have published recommended safety standards for container yard equipment. TT Club, PEMA and ICHCA International have identified additional safety devices that can be implemented on yard equipment, along with other operational changes in order to reduce injuries and fatalities as well as cargo, property and equipment damage. The three organizations have in the past united in campaigning for increased safety measures to be adopted to address common safety issues arising in quay crane operations. Now their attention turns to container yard equipment. “These headline findings point to a heavy concentration of avoidable incidents,” comments Laurence Jones, TT Club’s Director of Global Risk Assessment.

08 Jun 2010

Don’t Get Burned By a Poorly Implemented Training Program

By Lawrence R. All vessel owners and operators will agree that employee training and education is of prime importance when it comes to running a safe operation. A considerable amount of time, effort, expense and other resources are usually allotted to such programs. Although some programs are implemented with very little fanfare, other programs are often rolled out with a great amount of attention and the highest of expectations. Unfortunately, many of these programs, after the initial enthusiasm has worn off, are often shifted to the back burner and rarely used.

06 Mar 2009

Avoid Poorly Implemented Training Programs

Lawrence R. DeMarcay

All vessel owners and operators will agree that employee training and education is of prime importance when it comes to running a safe operation. A considerable amount of time, effort, expense and other resources are usually allotted to such programs. Although some programs are implemented with very little fanfare, other programs are often rolled out with a great amount of attention and the highest of expectations. Unfortunately, many of these programs, after the initial enthusiasm has worn off, are often shifted to the back burner and rarely used.

02 Jul 2003

The Coast Guard's Integrated Deepwater System

President Bush's visit with Coast Guard units in the Port of Philadelphia, Pa., in March placed a well-deserved spotlight on their critical role safeguarding the nation's maritime homeland security. Funding increases to the Coast Guard's budget over the past two years have significantly improved the service's current operational posture and readiness. At home, Coast Guard units have been working side-by-side with other agencies in the Department of Homeland Security to ensure the safety of U.S. ports, waterways, and coastal regions. Operational excellence also characterizes operations in the Coast Guard's other traditional missions. Illegal drug seizures during 2002, for example, ranked as the third largest in history.