Rsa News

Berkshire Hathaway Specialty Insurance (BHSI) has launched a full line of marine insurance products in France and appointed Muriel Birre Julvécourt as Head of Marine. The company said that the new marine offerings included Inland Marine, Ocean Cargo, Stock & Transit, Project Cargo, Freight Forwarders Liability, Ports & Terminals, and Subsea Insurance.Muriel Birre Julvécourtcomes to BHSI with more than 25 years of marine underwriting experience. She was most recently Head of Marine at RSA Group. Before that, she held various management roles in Marine at Groupama Transport.

International Container Terminal Services (ICTSI) Ecuador has launched the first transport insurance program for banana trade.Contecon Guayaquil SA, the Ecuadorian subsidiary of ICTSI, will be providing banana-exporters with a comprehensive insurance program, increasing coverage for the transport. ICTSI claims that Contecon Guayaquil SA (CGSA) is the world’s biggest banana export port.Designed according to the needs of Ecuador’s export market – SIE, Ecuador’s first integral insurance for banana exporters was launched recently through efforts of CGSA-led Logistics Community of the Port of Guayaquil (Comunidad Logistica del Puerto de Guayaquil – CLPG).Supported by RSA Seguros as advisers and multi-national insurers CHUBB and Zurich…

C Transport Maritime (CTM), the vessel management company in the dry cargo ocean transport industry, announced that four of its current members have added seven more vessels to the Supramax Revenue Sharing Agreement (RSA) in July and August 2019.According to the Monaco-based provider of ship management service, Chandris (Hellas) added the M/V Serene Juniper (57,185 dwt, 2011 built at STX Dalian).D’Amico Group added the M/V Medi Hakata (58,078 dwt, 2014 built at Shin Kurushima) , M/V Medi Manila (57,903 dwt, 2014 built at Tsuneishi Zhoushan), M/V Medi Yokohama (57,905 dwt, 2014 built at Tshuneishi Zhoushan) and the M/V Medi Segesta (58…

The pure play Mid-continent energy company Gastar Exploration will file for bankruptcy with support from the company's largest creditor and shareholder, the Los Angeles private equity group Ares Management.The financially struggling Houston company said the prepackaged bankruptcy plan will eliminate more than $300 million in debt but give controlling ownership of the company to Ares.Gastar said the restructuring was developed after marketing efforts failed to yield any viable proposals to repay or refinance its existing debt or to sell the company or its assets."The agreed restructuring was developed after extensive marketing efforts failed to yield any viable proposals to repay or refinance the Company's existing indebtedness or to sell the Company or its assets…

Richard Turner, European Director of Global Risk Solutions at RSA Insurance Group has been elected President of the International Union of Marine Insurance (IUMI).In accordance with the Articles of Association, IUMI’s Council formally elected Richard at their annual meeting which was held today, the final day of the IUMI annual conference in Cape Town. Richard, who has been closely associated with the global marine insurance market for 35 years, will serve a four-year term as President.Richard said: “IUMI is the global voice of marine insurance and is the professional body that represents national and international marine insurers. It…

GoodBulk an owner and operator of dry bulk vessels announced that it took delivery of the Aquasurfer, a 2013 built Capesize vessel of 178,854 dwt built by South Korean Sungdong. The purchase – which is the sixth to deliver of the seven initial Capesize vessels acquired from funds managed by CarVal Investors pursuant to an agreement entered into on October 26, 2017 – was financed with a combination of cash on hand, availability under existing credit facilities and the issuance of 1,547,000 new common shares to funds managed by CarVal. The vessel is expected to be employed in the spot market via the Capesize Revenue Sharing Agreement (Capesize RSA) managed by C Transport Maritime SAM (CTM).

Drilling rig firm Seadrill confirmed on Wednesday it had received two rival bids for its debt restructuring from unsecured bondholders. The company, which filed for Chapter 11 restructuring in a U.S. court on Sept. 12, has sought alternative proposals for the plan put forward by its main owner, Norwegian-born billionaire John Fredriksen and a group of hedge funds. "We have received two alternative bids from unsecured bondholders ... We are evaluating these bids and are in active dialogue with the bidders," the company said in an emailed statement.

FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust (FSL Trust), announced that the Trust has agreed to employ the 115,000 DWT Aframax crude oil tanker FSL Hong Kong, post dry docking, in the Teekay Group Revenue Sharing Agreement (RSA). This agreement continues the Trust’s relationship with Teekay, which started back in 2013.

* Caution remains over U.S. SYDNEY/LONDON, Jan 24 (Reuters) - Global insurance firms are circling Iran for business opportunities following the lifting of sanctions - and the first test of their appetite could come in March when some Iranian companies seek new cover. Insurers, the reinsurers that share their risk and the brokers that forge deals are exploring ways to tap a market worth $7.4 billion in premiums after a nuclear accord between world powers and Tehran led to the removal of restrictions on financial dealings with Iran this month. Allianz, Zurich Insurance, Hannover Re and RSA, for example, said in recent days that they would evaluate potential opportunities in the country.

The last commercial shipyard on the Clyde, Scotland, has secured grant to help safeguard 125 jobs and create a further 100. Ferguson shipyard has been awarded a £1m grant to refurbish its Port Glasgow premises and help fund new jobs. Ferguson Marine Engineering Ltd (FMEL) received the grant from Scottish Enterprise which will boost the number of full time staff from 150 to 250 at Port Glasgow. The  Regional Selective Assistance (RSA) funding will contribute to Ferguson Marine's redevelopment of its premises and investment in new state of the art equipment. Last month, Ferguson was awarded a £97m Scottish government contract to build two new ferries. The firm was saved from administration last year by Jim McColl's Clyde Blowers Capital.

Teekay Tankers Ltd. announced that it will acquire four coated Aframax tankers and one uncoated Aframax tanker for an aggregate purchase price of approximately $230 million. The five vessels, which are expected to be delivered in the first quarter of 2015, were constructed in 2008, 2010 and 2011 at top tier shipyards in Japan and China. Upon delivery, the vessels will trade in the Teekay-managed Taurus LR2 Pool and Aframax RSA. "We are pleased to announce this acquisition of five, high quality, modern secondhand tankers at an attractive price, which, when combined with the increase in our in-chartered fleet over the past six months, is consistent with our stated strategy of increasing our exposure to an improving spot tanker market…

Ocean Safety is to supply a set of Dacon maritime rescue equipment to two vessels operated by Vroon Offshore Services in a six-figure contract. Ocean Safety, which is the U.K.’s exclusive distributor of the Dacon range, will be showing the Dacon man overboard recovery products selected by Vroon at Seawork in June. The two vessels, which are both based in Aberdeen, will each take delivery of a 5m x 10m Dacon RSA Scoop with a catch net, a Dacon RB300 rescue basket and four Dacon Scrambling Nets which are 3.5m in depth.

Members of the public have been urged to heed the advice of the Irish Coast Guard as Met Éireann has issued an orange weather warning. Southerly gales will develop overnight on all Irish coastal waters and on the Irish Sea, gradually veering southwest to west later tonight and tomorrow and increasing gale to storm force. Frequent heavy showers are expected with some thunder, sleet and snow for a time, mainly on higher ground. Also expected is a high coastal flood risk, due to the combination of very high spring tides, extremely high waves (greater than 10 m). The Coast Guard strongly advises the public not to go out on exposed coasts, cliffs, piers, harbor walls, beaches, promenades or any other coastal areas during the inclement weather. Huge waves can be whipped up by high seas.

Markel International, a specialist insurer with a worldwide product portfolio, appointed Matthew Cannock as Managing Director of Markel International in Singapore. The Monetary Authority of Singapore has approved his appointment as Managing Director and as Principal Officer. Matthew will take up the position at the end of August from Peter Phillips, who has led Markel’s operations in Asia Pacific since 2007. Matthew joined Markel in 2012 as marine underwriter with responsibility for developing Markel’s regional marine capability, focusing on marine hull, cargo and liability business.

Peak Reinsurance Company Ltd., a Hong Kong reinsurer backed by Fosun International Limited and International Finance Corporation, announced four appointments to strengthen its underwriting and research capabilities in the Asia Pacific region. These new hires are part of Peak Re’s strategic plan to bring world-class reinsurance experience to the region, the company said. Lay-Hui Lim joins Peak Re as Senior Vice President (SVP) of Underwriting and will lead the company’s marine business.

The Sustainable Shipping Initiative (SSI) launched in Singapore recently is a series of practical, collaborative action plans aimed at developing a sustainable shipping industry for the future. Wärtsilä and other members have committed to deliver first results before the end of 2013. Presented as part of Singapore Maritime Week, the action plans are a significant step for the SSI as it works toward achieving its vision of a shipping industry that is both profitable and sustainable by 2040. “The SSI has committed to an ambitious vision for the industry, and these action plans are a vital step in us achieving this vision. Work is focused on creating a clear framework that the wider industry can use to adopt more sustainable practices.

Some of the biggest names in shipping today called on the industry to take far-reaching action to create a maritime sector which is socially and environmentally responsible and profitable. • develop innovative business models that encourage long-term investment and take into account social and environmental obligations. Soren Stig Nielsen, Head of Sustainability, Maersk Line, said: "By creating a shared vision for sustainable growth, we can plot a new ambitious course. The Sustainable Shipping Initiative brings together leaders from across the maritime sector with Forum for the Future and WWF. Its members are: ship owners and charterers BP Shipping…

This article is intended to help inform the debate on the use of arms, in particular, armed Sea Marshals, in the protection of vessels conducting commercial business. At the outset AKE acknowledges an interest through its support to GAC Solutions in the provision of maritime security services and support to maritime clients. This paper provides objective analysis of the situation confronting the maritime industry in respect of piracy, its growing effect on business, and the arming of ships.

Wärtsilä has joined the Sustainable Shipping Initiative (SSI), a program initiated by Forum for the Future. The initiative brings together the industry's leading organizations to show what can be done for shipping to contribute to, and benefit from, a sustainable future. This global taskforce gives leading industry players, and their supply chain stakeholders, a framework for assessing the extent of their sustainability challenges. By understanding their role in a sustainable future, companies can gain a competitive advantage and support the development of good policy in the process. SSI was founded earlier this year by Forum for the Future in collaboration with WWF, Maersk Line, BP Shipping, Lloyd's Register, Gearbulk, and ABN Amro.

The Retirement Systems of Alabama has become the largest investor in Signal International, with a $100m purchase of shares in the shipbuilding firm that will move its headquarters from Pascagoula, Miss., to RSA's new skyscraper in Mobile. RSA bought about $100m worth of shares in the $240mcompany, the company said. Signal builds and repairs ships and offshore oil rigs. The firm employs about 3,000 people in Mobile, Pascagoula and in the Texas cities of Houston, Port Arthur and Orange. In the next six to nine months, Signal will move its headquarters from Pascagoula to the 35-story RSA Battle House Tower. The company leased 6,000 square feet of office space. RSA was approached about the purchase by Washington, D.C.-based ACON Investments.

Lloyd and the yards, engine manufacturers and suppliers. Germanischer Lloyd. even in the preproduction phase. added savings in time. up to date immediately. the PDF format between the yard or manufacturer and Germanischer Lloyd. portal can be reached via a standard web browser. of the digital interchange procedure is safeguarded by the SSL method. Access is protected by password. creates a constantly changing password. charge.