Autonomous Shipping: Don’t Miss the Boat
The Norwegian company Yara is currently building a full-electrical containership fitted with an autonomous control system: the Yara Birkeland. During a recent visit to a major maritime conference, imagine my surprise when most attendees – some 200 executives from the maritime sector – discussed autonomous shipping in terms of its risks. The room seemed full of objections and doubts. What if the computer malfunctions? Somewhat understandable in view of the pressure put on the sector by strong international competition and slim margins. Existing companies are used to a certain turnover.
Training Matters To The Bottom Line
Shipowners considering their future training needs would be well advised to ensure they view Videotel’s very latest video - Training Matters. Demonstrating that good training makes sense to the bottom line, it details how ship operators can receive a tangible return on investment with more efficient operations; fewer accidents; less off-hire time; lower insurance premiums; improved compliance with legislation and a more motivated workforce. Introducing Training Matters to an audience of ship owners and ship managers at the Sonangol Shipping Safety Seminar in Angola earlier this month…
Port Accidents are Avoidable
Speaking this week at the industry forum, ASEAN Ports and Shipping in Ho Chi Minh City, Vietnam, TT Club’s Regional Director for Asia Pacific, Phillip Emmanuel, showed evidence that a very high percentage of the insurer’s claims were due to some kind of operational error. The majority could have been avoided through good management practice. Emmanuel highlighted the main areas of concentrated risk and presented effective recommendations to minimize these incidents. Leading transport and logistics insurer TT Club’s latest analysis of 9,500 claims over the past seven years, valued at $400 million, confirmed an ongoing trend in avoidable damaging events that resulted in claims.
Understanding the Ups and Downs of Insurance
Business is cyclical, and nowhere is there more evidence of its cyclical nature than in the insurance market, characterized by ups and downs in insurance premiums, coverages and profitability. By most accounts, the current insurance market has been one of the most competitive in recent memory. With intense price-cutting and expanding coverages, these conditions are typical of a “soft” market which is very much a buyers’ market. The obvious benefits of a ‘soft’ market to the buyer are lower insurance premiums…
