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

New Products

First ‘Reachstacker’ Starts Duty in the Port of Ravenna

Liebherr Maritime Cranes delivered a LRS 545, the first model out of the new reachstacker series, to the Italian Port of Ravenna.   The Port of Ravenna is one

Cummins Expands Marine Tier 3 Product Line

Cummins Inc., a manufacturer of diesel engines and generator sets for the marine industry, has launched a new Onan marine U.S. Environmental Protection Agency (EPA) Tier 3-certified generator,

Honda Marine on Display at Miami Boat Show

Honda Marine is set to market its complete range of outboard marine four-stroke engines at the 2016 Miami International Boat Show, February 11-15, 2016.   At this year’s show,

News

Helsinki, Tyumen State Universities to form Arctic station

Within the framework of the international project Reeh, Tyumen State University in cooperation with the University of Helsinki are planning to create a unique Arctic observation stations.

HMAS Melbourne Returns

Royal Australian Navy frigate HMAS Melbourne is returning home to Australia after completing more than 50 boarding operations and seizing almost a tonne of heroin during a Middle Eastern deployment.

Nautilus, Metro Move to New HQ in Long Beach

After more than 92 years of operating from various locations in Wilmington, Calif., Nautilus International Holding Corp., along with its subsidiaries Metro Ports,

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair 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: 0.0728 sec (14 req/sec)