Risk Management Solutions News

West creates a Charterers and Traders team as a new center of excellence within the Club, further enhancing the West’s popular tailor-made liability insurance products.The West of England P&I Club announced the creation of a dedicated Charterers and Traders product team to manage its Charterers Comprehensive Cover, which provides bespoke cover for charterers and traders.Suumit Madhu will lead the new team with support from Nicola Goff, Christina Anderson, Chris Ward and Paul Kaye…

Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and a part of Adani Group, a global integrated player, entered into a strategic partnership with National Collateral Management Services Limited (NCML), a major Agri-infrastructure player, for collateral management and warehousing services. The objective of these services will be to assist industries, traders, Importers and exporters in financing their capital requirements at all stages of the supply chain, ranging from Post harvest storage to export or Import stages. Mr. Sanjay Kaul , MD & Chief Executive Officer, NCML, signed the agreement with Capt Unmesh Abhyankar, Chief Executive Officer (Mundra Port) and Mr. Vipul Shah, Head –Sales and Mktg, Adani Hazari port in presence of Mr.

Drum Cussac and Ambrey Risk have agreed the sale and purchase of Drum Cussac’s maritime transits security division. Drum Cussac’s transits security division provides security consultants in all marine environments to protect commercial shipping from seaborne piracy threats, predominantly in the Lloyds of London High Risk Area (HRA) of the Indian Ocean. Drum Cussac has provided this service to a large number of clients since 2008. Ambrey Risk will integrate Drum Cussac’s maritime transits operations staff and equipment into its existing business.

OW Bunker, a physical distributor and reseller of marine fuels, today announced that it has acquired marine fuel broker Wilhelmsen Marine Fuels, a subsidiary of Norwegian Wilhelmsen Maritime Services, for an undisclosed sum. Wilhelmsen Marine Fuels’ main activity is broking services from offices in Oslo, London and Singapore, servicing customers on a global basis, but with a key presence in Singapore and the ARA-region (Amsterdam, Rotterdam, Antwerp). Executive Vice President, Götz Lehsten, OW Bunker, commented, “Wilhelmsen Marine Fuels has a strong team and an interesting customer base that fits well into OW Bunker’s integrated business model.

Bergen, Norway – May 20, 2014 – A newly established research center on Norway’s west coast hopes to improve subsea operation and maintenance by bringing risk management into real time. Integrated Well and Subsea Instrumentation (IWSI) is the latest development from independent technology research institute Christian Michelsen Research AS (CMR), which aims to establish an arena for subsea and well instrumentation research and development to find real time risk management solutions for reduced cost and improved safety – on the Norwegian continental shelf and internationally. Working in collaboration with the University of Bergen, University of Stavanger…

Fuel distributor continues global expansion with launch of fifth office in Latin America. OW Bunker, a reseller and physical distributor of marine fuel, announced the launch of a new operation in Cartagena, Colombia. The move into the Colombian bunker market builds upon OW Bunker’s presence across the region with existing offices in Chile, Uruguay, Panama and Brazil. OW Bunker’s Colombia office is located in Cartagena – the country’s most active port - on the region’s northeast coast along the Caribbean Sea.

Operating on both land and water, ship repairers and marine equipment installers tackle a variety of tasks from general maintenance and repair, to upgrading electrical systems, to installing state-of-the-art navigational systems. Along with these tasks comes a wide array of maritime risk exposures, both large and small, for which the business owner needs to be adequately protected. The tasks of an electrician or welder are challenging enough on their own, but try to do this work on a vessel at sea or in a shipyard, and the technician will find that the hazard level rises dramatically – from making sure that all facets of the systems work together as they should, to the increased fire risk hot welding presents to the safety of the vessel.

ARES Security Corporation and The Mariner Group announced that ARES Security has acquired a majority ownership interest in The Mariner Group, LLC. This acquisition builds on Mariner’s expansion while strengthening ARES Security’s position to serve the global security market by providing comprehensive end-to-end physical and logical security solutions. ARES Security will incorporate Mariner’s CommandBridge platform into their suite of risk management solutions to provide sensor integration and real time command and control capabilities. Now, ARES Security will offer their AVERT and BluTrain products, to identify and quantify threats for…

To avoid major accidents, safety barriers are critical to stop accident pathways before they become serious, and they need to be treated accordingly. This has to be reflected in operations and ideally in regulations. If not, safety barriers which often address rare events might lose the everyday battle for attention among all the safety and production systems in daily use, leaving a company with fictional barriers and false sense of security. At the OTC session for safety and environmental management systems, a paper was presented by DNV’s Dr. Robin Pitblado and Dr.

OceanGate Inc. OceanGate Inc., recently appointed Geoffrey Barker and Lee Thompson to serve on the Company's Board of Directors. "We are pleased to welcome Geof and Lee to our board," said Stockton Rush, Chairman and CEO. Geoffrey T. Barker is the COO, co-founder and a member of the Board of Directors of RPX Corporation , which provides patent risk management solutions to companies in the broad technology industry. Mr. Barker has an extensive background developing new businesses, and, in addition to RPX, founded and co-founded two other companies, one of which was ultimately sold for $400 million. Lee Thompson is CEO and co-founder of BlueView Technologies, which delivers groundbreaking underwater vision and measurement systems to the maritime community. Dr.

Sahar Zarghamian joins OW Bunker as a Bunker Trader. OW Bunker, a supplier and trader of marine fuel, today announced the appointment of Sahar Zarghamian as a new Bunker Trader on its Fujairah desk in a move that further strengthens OW Bunker’s presence in the Middle East. Sahar Zarghamian is rejoining OW Bunker Middle East, where she started her career as a Bunker Trader before moving on to work as a Trader for a reputable derivatives company in the region. Jesper Jervild, OW Bunker’s Regional Manager for the Middle East and South Africa, commented: “Strategically, Fujariah is a very important area of operation, as one of the world’s top three bunkering hubs and a rapidly expanding port.

Omar Sekkat has joined DnB NOR’s energy division at the bank’s Asian headquarters in Singapore. He comes to the role after transferring from DnB NOR in London. Mr Sekkat’s appointment as a Senior Vice President of the energy division at DnB NOR Asia takes immediate effect and his role is to contribute to the bank’s ongoing expansion in Asia Pacific within energy finance. look forward to working with my team to develop further the bank’s client base in Asia. Mr Sekkat has a strong track record stretching over several years at DnB NOR.

Omar Sekkat has joined DnB NOR’s energy division at the bank’s Asian headquarters in Singapore. He comes to the role after transferring from DnB NOR in London. Mr Sekkat’s appointment as a Senior Vice President of the energy division at DnB NOR Asia takes immediate effect and his role is to contribute to the bank’s ongoing expansion in Asia Pacific within energy finance. Omar Sekkat said today: “It is with great anticipation that I undertake this role and I look forward to working with my team to develop further the bank’s client base in Asia.

Lloyd’s Register North America, Inc. held an open house for its newly expanded offices in Fort Lauderdale on February 25, unveiling a modern training facility that will host an array of marine training courses and topical seminars for clients and industry associates. The new training facility in Fort Lauderdale is the latest addition to a global training strategy and highlights plans to broaden learning opportunities for the maritime industry in North America. Delegates in the Fort Lauderdale courses will enjoy an improved training experience with state-of-the-art equipment, greater comfort, better work arrangements, and improved acoustics.

The roll call of countries and regions now declaring themselves in recession keeps growing, and credible economists around the world offer little hope for relief in the short term. While the impact of the economic turmoil on financial institutions and on global credit liquidity has been written about exhaustively, the impact is now spreading far beyond the Wall Street world, touching businesses that until recently were healthy and growing. For both the marine industry and the insurers who partner with them to protect shipping, the recession threatens an abrupt halt to the unprecedented boom times of recent years. While key indicators of marine industry prosperity are eroding…

Lloyd’s Register Group announced full year results for the year ended June 30, 2001. Lloyd’s Register reports that operating profit for the 12 months at $35 million, with a record income up 11 percent at $519.2 million, which return it to profitability six months ahead of target. With the business restructured, Lloyd Register’s non-core activities were successfully exited. David Moorhouse, Chairman of Lloyd’s Register, comments: “These results - and the activities that lie behind them - mark successful further steps in the Group’s aim to become the preferred global provider of risk management solutions, most notably in the transportation sector.

Intergraph Corporation reached an agreement with Lloyd's Register to build an interface between Intergraph's IntelliShip multi-discipline ship design software, and the Lloyd's Register assessment applications, RulesCalc and ShipRight SDA. The interface will result in significantly greater efficiencies in the classification process for Lloyd's Register classed ships. IntelliShip coupled with this new interface will improve the overall ship design, certification, construction and commissioning process. Shipyards and ship designers can readily check the model created in IntelliShip against Lloyd's Register's classification rules, eliminating redundant modeling and reducing errors.

Risk Management Solutions (RMS) hosted a seminar in London introducing the new RMS(TM) U.S. Offshore Platform model. Over 90 members of the insurance, reinsurance, and weather brokering industry attended at the London Underwriting Center. The new Offshore Platform model employs stochastic storm events to generate a robust estimate of the risk posed to an individual platform or a portfolio of platforms, including the probability of exceeding various levels of loss. It uses the same underlying wind hazard model and storm set as the RMS(TM) U.S. Hurricane model, allowing for simultaneous loss calculation for onshore and offshore exposures. Comprehensive exposure data for over 4,000 fixed and floating platforms are included to aid in accurate high-resolution analysis.