Ocean Marine News

Pat Stoik will join insurer Ascot Group as Executive Vice President, Head of Marine, Ascot U.S., effective October 24. He will be based in New York and will report directly to Matt Kramer, Chief Executive Officer, Ascot U.S.An experienced executive in the marine industry, Stoik brings more than 35 years of senior management, underwriting, and broker experience to Ascot. Most recently, he served as Chief Risk Officer for Overhaul Group, Inc., a global leader in in-transit supply chain risk management…

Hundested Propeller announced it has acquired Ocean Marine Systems Ltd (OMS) and with immediate effect welcomes the U.K. organization as a subsidiary.For over 100 years, Hundested Propeller has been a manufacturer of marine equipment and today it supplies complete controllable pitch propulsion systems, marine gearboxes, thrusters and sail drive solutions. The purchase of OMS will increase its thruster range, and OMS will continue its range of hydraulic cylinders and through-hull instrument deployment systems used in underwater security and seabed mapping applications.The former owners of OMS…

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.

Nautilus Data Technologies (NDT) and Elliott Bay Design Group (EBDG) provide an interesting new twist to the maritime digitalization discussion, with the design, manufacture and delivery of an innovative 7MW data center housed on a refurbished 240-ft. deck barge. Jim Connaughton, CEO, NDT & Michael Complita, PE – VP Strategic Expansion, EBDG, discuss the strategic and environmental advantages as well as the future of housing massive computer banks on barges.When one says “Silicon Valley”, the first image to come to mind likely is not a barge.

The stranding of the MV Wakashio is one of the biggest environmental disasters in the history of the western Indian Ocean. While the full scale of the disaster is not yet known, the 1,000 tons of oil and diesel that leaked close to one of the greatest marine treasures of Mauritius threatens to destroy this precious habitat. Recovery will be long and the disaster will occupy Mauritius for years to come.Questions now arise: could the accident and the spill have been prevented? Was the country prepared?

“Weathering the Storm” salutes heroes of the sea in turbulent timesThe American Club and Eagle Ocean Marine (EOM) have produced a video entitled ‘Weathering the Storm’ which salutes the service of seafarers in these turbulent times as they seek to protect themselves in their vital work, at sea and in port, against the ravages of COVID-19.The video can be accessed here: https://www.youtube.com/watch?v=MVTBZ0v1w4Q“As seafarers labor in their essential role of enabling global trade…

Dutch based Damen Shipyards Group said it has signed a contract with Canada’s Group Ocean for the delivery of two new workboats that will provide dredging support services at an oil sands project in northern Canada. The new vessels, both Modular Multi Cats 1205, are made of standard, container-sized units that enable easy transport. The versatile Multi Cat workboat used in many sectors for operations such as towing and anchor-handling, dive support, marine engineering, offshore energy operations and for dredging and dredging support.

Allianz Group’s specialist corporate insurer Allianz Global Corporate & Specialty (AGCS) announced today that effective December 31, Henning Haagen will take over as North American Regional Head of Specialty Lines, and Rich Soja will become the North American Regional Head of Marine. These appointments follow the retirement of John Barnwell after more than 20 years with the company. While taking on these new responsibilities, both Haagen and Soja will continue in their current roles as Northeast Zone Executive in the U.S. and Global Head of Inland Marine, respectively. Since joining Allianz in 2008, Haagen has held a range of global leadership positions within the organization both in Munich and London…

The right insurance policy could help you stay above water after a workplace incident. The day-to-day job of marine construction workers has many potential hazards. While restoring shorelines, dredging harbors, repairing bridges and building docks, they often operate heavy machinery. Manning cranes, forklifts and excavators day or night, it is not uncommon to work in sweltering heat, freezing cold temperatures and an array of other challenging weather conditions. With all of this in mind…

Though water covers more than 70 percent of the Earth’s surface, businesses engaged in marine shipping operations and logistics, and other businesses that manufacture and ship product still have a lot of ground to cover getting their various goods to their final destinations. The ocean marine insurance market, the oldest insurance market in the world, was initially developed to protect these goods while crossing the ocean’s open waters, later to morph into a product to protect all international transportation regardless of mode.

The Maritime Safety Research Centre (MSRC) is an industry-university partnership, involving Strathclyde's Department of Naval Architecture, Ocean & Marine Engineering, Royal Caribbean Cruises Ltd (RCCL), and DNV GL. The world’s first centre of its kind, the MSRC will aim to improve safety at sea through a close collaboration between industry and academia, that targets interdisciplinary, common-threaded research and development. The Maritime Safety Research Centre was officially opened this week by the IMO Secretary General Kitak Lim, who looked at how the MSRC could play a role in the shift of maritime safety from empirical to risk-informed legislation and goal-based standards.

International Maritime Organization (IMO)  Secretary General Kitack Lim has officially opened the new Maritime Safety Research Centre (MSRC) at the University of Strathclyde in the United Kingdom.    In his inaugural address, Mr Lim said that the centre could play an important role in the shift of maritime safety from empirical to risk-informed legislation and goal-based standards.    The MSRC is an industry/university partnership, involving Strathclyde's Department of Naval Architecture, Ocean & Marine Engineering, Royal Caribbean Cruises Ltd, and the classification society DNV GL.    It will aim to improve safety at sea through a close collaboration between industry and academia.

The Maritime Safety Research Center (MSRC) is an industry-university partnership, involving Strathclyde's Department of Naval Architecture, Ocean & Marine Engineering, Royal Caribbean Cruises Ltd (RCCL), and DNV GL. The world’s first center of its kind, the MSRC will aim to improve safety at sea through a close collaboration between industry and academia, that targets interdisciplinary, common-threaded research and development. The Maritime Safety Research Center was officially opened this week by the IMO Secretary General Kitak Lim…

The American Club reported solid progress during 2015 at the annual meeting of its members held in New York yesterday. Despite a challenging economic climate, the Club’s business developed respectably, and 2016 had started on a positive note. The Club’s tonnage and revenue experienced some attenuation in 2015 as global trade slowed and freight markets continued to struggle. Following the 2016 renewal, year-on-year tonnage entered for P&I and FD&D risks was stable at about 14 million GT for the former and 9 million GT for the latter class of business…

XL Catlin today announced the promotion of Anne Marie Elder to the role of Chief Underwriting Officer Marine for the Americas region. Elder in her new leadership role now reports to Lee Meyrick, XL Catlin’s Chief Underwriting Officer for Global Marine, in London. Elder, who previously held the position of Senior Vice President and Chief Underwriting Officer, Inland Marine in North America,  assumes the role formerly held by Richard DeSimone. DeSimone, who joined XL Catlin in 2011 to help build its North America Marine capabilities, retired from the company on December 31, 2015. According to Meyrick, “Under Rich’s leadership, we expanded our team in North America and created a comprehensive portfolio of Bluewater and Brownwater Hull…

Eagle Ocean Marine (EOM), the specialist fixed premium P&I and FD&D (Freight, Demurrage and Defense) facility underwritten by the American Club, has reported a solid fourth year of operations, and a strong start to its fifth year of activity, following the successful renewal of its quota-share and excess of loss reinsurances with Lloyd’s underwriters as of July 1, 2015. Over the past year, tonnage insured by Eagle Ocean Marine grew by nearly 20 percent over the figure for the previous twelve months, on a premium income of over $6 million.

The American Club reported solid progress during 2014 at the annual meeting of its members held in New York today. Despite a challenging economic climate, the club’s business had developed favorably, and 2015 had started on a positive note. Tonnage and revenue grew strongly at the outset of 2014, but faded slightly later in the year as freight markets struggled. However, premium pricing remained firm, despite the enduring effect of “churn” as older, higher-rated vessels continued to be replaced by younger, lower-rated ships.

As many companies continue the fight for survival in the challenging market conditions, shipping and offshore recruitment specialist Blue Ocean Marine & Offshore Solutions (BOMOS) announced its strategy to focus much stronger on cost reductions. “Current financial realities are calling for some tough decisions and there is an increasing demand to improve operating margins. There is no single solution to radically change the cost structure of shipping and offshore companies. Instead, these companies will reach their goals with a combination of several actions.

In October 2013, a fire blazed through Brazil’s Santos port, destroying six warehouses and the 180,000 tons of raw sugar inside Sugar Company Copersucar’s terminal. The fire hit all of the sugar giant’s warehouses at the port and left many exporters holding contracts for sugar with an empty bag. Following the fire, Copersucar declared “force majeure” to third party exporters who had contracts to ship the sugar through the now-burned terminal. Force majeure is a legal term referring…

The Saudi Arabian-led coalition of anti-Houthi forces attacking Yemen has tightened the blockade on Yemen's ports affecting shipping activity including the delivery and loading of oil and gas shipments. Ships are unlikely to be able to access ports in areas that the coalition deems to be under Houthi rebel control. Navigation in Yemen’s territorial waters has been banned and ships are not allowed into Yemen unless inspected and approval by the Saudi-led coalition forces. The Grace Acacia, a Bahamas-flagged liquefied natural gas tanker, was scheduled to load cargo at the Balhaf LNG terminal on Friday, but the loading has been delayed and the tanker is currently anchored at the Fujairah port in the United Arab Emirates, a trader said.

Warships from the Saudi-led coalition have blocked a vessel carrying more than 47,000 tonnes of wheat from entering a Yemeni port, demanding United Nations guarantees that the cargo would not go to military personnel, shipping sources said on Thursday. Ocean Marine Services, which acts as the Yemen-based agent for the ship, said in a letter to the director of the Yemeni Red Sea Ports Authority, that the Lycavitos, carrying 47,250 tonnes of wheat, had been stopped from entering al-Saleef port, north of Hodeidah on Wednesday night, on the grounds that all Yemeni ports were off limits to shipping. "As official bodies, we appeal to you to communicate with whoever may be in charge to find a quick solution to the problem…

Founded in 1954, BIRNS, Inc. designer and manufacturer of high performance lighting and connector systems for deep ocean, marine, military and nuclear power applications celebrated the anniversary at the recent Underwater Intervention show in New Orleans. BIRNS informs of a well attended event in its booth at the show to commemorate the anniversary. The event included a slideshow of historical company photos honoring the founding CEO Jack Birns, a former LIFE Magazine photographer, and the company’s achievements to present day in a presentation by current CEO Eric Birns.

Business owners put their companies at risk when a new project gets under way. With even the best advance preparation, things can still go wrong, with the potential for injury, property damage and financial loss lurking in the background. If you are the project owner who is hiring multiple subcontractors, you may lie awake at night worried about how actions not under your control may lead to accidents, unexpected developments, potential liabilities and unavoidable delays. If you are one of the subcontractors, you may have won the bid on thin margins that could lead to a rushed schedule and careless work practices, while the fine print in your contract may include unanticipated liability for your business.