13 Jun 2019
Cyber Risk Management: What Maritime Professionals Need to Know Now
The IMO January 2021 deadline for shipping interests to incorporate cyber risk management into their existing Safety Management Systems is fast approaching. It is critical that stakeholders understand their vulnerabilities. The IMO has issued MSC-FAL.1/Circ.3 guidelines on maritime cyber risk management that does a good job of outlining the many vulnerable systems within marine operations, including:1.Bridge systems;2.
18 Apr 2019
Autonomous Ship Tech: Opportunity & Risk
There have been numerous articles and opinion pieces speaking of the potential application areas of maritime autonomous technology, the elimination of “human error”…
20 Dec 2018
Ships: Deciphering the Autonomous Vessel Debate
By Captain Andrew Kinsey, Senior Marine Risk Consultant, Allianz Global Corporate & SpecialtyConfusion reigns in the ongoing debate on autonomous and remotely operated vessels. Before constructive dialogs can take place, the parameters of the discussion need to be agreed upon. Bottom line: in order to understand each other, we need to be speaking the same language.There are two recent publications that I strongly advise all maritime professionals review…
13 Aug 2018
BIG LIFT: The Importance of the JH143 Builder’s Risk Surveys
The importance of a JH143 Builder’s risk survey has been well documented. Since the Joint Hull Committee created JH 143 – Shipyard Risk Assessment form was brought into effect in November 2003…
12 Jul 2018
Workboats & SUB M: July 20, 2018 & Beyond
The bottom line is 46 CFR Subchapter M is drastically changing the landscape of towing operations within the United States. Some impacts we have identified and other will come to light as time passes.As the Subchapter M compliance deadline approaches on July 20, 2018, I have had the chance to discuss these new laws and their impact with a variety of Assured’s with diverse backgrounds and widely varying commercial tug operations.From my experience…
17 Apr 2018
Taking Lessons from El Faro to Assess Cyber Risk
The International Maritime Organization (IMO) January 2021 deadline for ship owners and managers to incorporate cyber risk management into existing Safety Management Systems is closer than many realize, especially given the complex profile that the risk presents and the need for a well-detailed procedure to help protect marine assets and businesses. The failure to properly address cyber risks is much…
13 Dec 2017
The Best Options for Safe Mooring
The use of High Modulus Synthetic Fiber (HMSF) mooring lines, including Ultra High Molecular Weight Polyethylene (UHMWP) lines continue to make one of the most dangerous evolutions aboard ships safer. A 2017 UK Marine Accident Investigation Branch (MAIB) safety report, however, highlights critical areas where additional engineering review and crew training is required to help ensure overall crew safety.
30 Aug 2017
Trends in Heavy Lift Solutions
Advances and developments in heavy lift transportation are allowing shipyards to rethink how, and where, they build and maintain vessels. Utilizing this technology can help a yard expand its order book and improve its bottom line. The use of Self-Propelled Modular Transporters (SPMTs) in shipyards enables a facility to expand its operations in numerous ways, including new building, maintenance and repair or storage.
22 May 2017
Cyber Vigilance at Sea: The New Norm
The risk of cyber attacks on vessels at sea continues to be significant, and it’s not going away any time soon. Each year, it seems, there are more and more reports of hacks that have resulted in loss of critical data, financial loss or problems with IT systems or shipborne systems functionality. Shipowners have been reluctant to share information on actual or attempted breaches for fear of being identified. However, there’s no shortage of examples of cyber attacks on vessels.
27 Jul 2016
Panama Canal: Assessing the Risk & Reward
The Panama Canal’s impact on shipping routes and vessel sizes since it opened in 1914 is undisputed. This will continue with the opening of a third channel for larger vessels in 2016. This briefing examines the risk management impact of this expansion on the maritime industry. Why is the Panama Canal Expansion Significant? The Panama Canal’s $5.25 billion expansion increases the maximum vessel capacity and enlarges the overall volume of transported freight.
20 Apr 2015
Risk & Reputation in the age of Disruption
Risks faced by today’s global businesses represent a combination of traditional concerns and newer threats that reflect changing times. The 2015 Allianz Risk Barometer, a survey of more than 500 corporate insurance experts and risk managers from 47 countries, revealed that issues related to business interruption and supply chain risk, natural catastrophes, and fire and explosion continue to top annual rankings.