Favourable Insurance Rates News

NAVTOR signed an Integrated Partner agreement with Veracity by DNV, a deal intended to help shipowners and operators simplify reporting, enable sustainable shipping and unlock green finance.“Our ecosystem collects, aggregates and utilizes enormous amounts of business-critical data,” said Bjørn Åge Hjøllo, Chief Sustainability Officer, NAVTOR. “That is used to make shipping safer, simpler and more efficient – automating tasks, reducing fuel consumption, saving costs, and, in short, delivering complete asset awareness and control for our customers.

International accountant and shipping consultant Moore Stephens says total annual operating costs in the shipping industry increased by an average 2.2 per cent in 2010. This compares with the 2.0 per cent average fall in costs recorded for the previous year, which was the first time since 2002 that operating costs had fallen. All cost categories showed an overall increase this time, with the exception of stores and insurance – with the latter falling by 4.7 per cent overall. The findings are set out in OpCost 2011, Moore Stephens’ unique ship operating costs benchmarking tool, which reveals that all individual categories of vessel covered by the research…