Tony Redding News

The wreck of the cargo ship Cemfjord, which sank in the Pentland Firth with eight men on board, has been located on the seabed. The wreck of the cargo ship Cemfjord, which sank in the Pentland Firth with eight men on board who are presumed dead, was yesterday found on the seabed. It was discovered in the eastern approaches to the Firth by the lighthouse tender, Pharos, using sonar equipment. The upturned hull of the Cypriot-registered Cemfjord - which was carrying cement - was spotted by a passing ferry on Saturday and sank the following day. No trace was found of its crew despite a huge search operation. The seven Polish nationals and one Filipino who were on board did not have time to send out a distress signal.

Scavengers on the beach in southwest England and carted away motorcycles, wine barrels, car parts and tennis shoes spilling from a container ship damaged in recent storms and listing about a mile off shore. The British cargo ship was deliberately run aground close to the Devonshire resort of Sidmouth, 165 miles southwest of London after it was damaged during a storm Thursday. Its crew of 26 was rescued.French officials said that of the 41,700 tons of merchandise, 1,700 tons were considered dangerous, including battery acid and flammable material. The containers also hold motorcycles, car parts, oak barrels and household possessions being moved to new homes.

While the impact of poor freight rates and low oil prices have been felt in all quarters of the Scandinavian maritime industries, the region's hull underwriters and P&I Clubs continue to benefit from the relatively strong domestic shipping and energy sectors. Scandinavian marine insurers have demonstrated resilience in challenging market conditions. The global hull market remains in a downswing of unusual severity. As for the P&I sector, the past 12 months have had a nervous character, with talk of mergers and the increasing profile of the fixed premium players. The Swedish Club, the Gothenburg-headquartered marine mutual, is committed to both sectors - providing total package hull and P&I services. In the hull sector, the Club has refused to follow the market in its downward spiral.