Eagle Ocean Marine Launches Ship Recycling Insurance Facility

Posted by Eric Haun
Thursday, July 31, 2014

New program offers customized cover backed by Lloyd’s security

Eagle Ocean Marine, a fixed-premium P&I facility operated as a joint venture between a number of Lloyd’s syndicates and the American Club, has established a dedicated program for the insurance of vessels on demolition/recycling voyages.

The facility provides comprehensive liability insurance for both owners and the specialist professionals engaged in this increasingly significant and growing trade. Backed by the first-class security of underwriters at Lloyd’s, the new venture provides a highly-focused insurance product aimed at the distinctive needs of this important sector.

Cover terms and conditions can be carefully tailored to the particular requirements of different assureds involved in the scrapping and recycling of vessels of all types from every part of the world.

Speaking in New York today, Joe Hughes, chairman and CEO of Eagle Ocean Agencies, Inc., responsible for marketing the cover, expressed his high expectations for its future: “We are delighted to be launching this new Eagle Ocean Marine product in close collaboration with our partners at Lloyd’s.

“The Eagle Ocean recycling facility will provide the market with a dedicated and tightly-focused solution to a marine insurance need which will continue to grow over the years ahead. Also, the facility is launched at a time when the demolition/recycling industry is coming under increasing regulatory pressures, and new legislation that is in the pipeline could affect liability issues.

“We look forward to developing the new facility with our friends and associates from across the world, and believe it will soon occupy a significant position in this expanding market.” 

eagleoceanmarine.com
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

New Products

Maersk Takes Coffee Very Seriously

Maersk acknowledges that coffee is very special, mainly in regards to the processes and requirements involved for it’s shipping. "So we have adapted the way we work so we can meet your needs,

MSC Jade Sails with MAN's Biggest Engine

The largest and most powerful engine from MAN Diesel & Turbo’s portfolio ever designed and built has entered service.   Built by Doosan Engine in Korea and rated at 75,

Statoil’s 50 years to be Recorded

Statoil has decided to launch a large project to write the story about the company for its 50th anniversary in 2022. The University of Oslo has been chosen the

News

“Twiggy” Baker Wins BWT Puerto Escondido Challenge

Grant “Twiggy” Baker (ZAF) claimed victory today at the Puerto Escondido Challenge, besting a field of 24 of the world’s best big wave surfers in towering 20-to-35

Winners of International Seafarers' Welfare Awards

The winners of ISWAN's International Seafarers' Welfare Awards 2016 were announced on 24th June at a high-profile ceremony held in Manila, the Philippines. The

Blue Angels Resume Schedule

The U.S. Navy Blue Angels will return to its 2016 demonstration schedule July 2-4 in Traverse City, Mich., Commander, Naval Air Forces announced. The Blue Angels temporarily stood down,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0767 sec (13 req/sec)