Risk Profile of Hull Market Improving - IUMI
IUMI – the International Union of Marine Insurance – at its annual conference in Berlin yesterday announced that global hull premiums for 2014 totalled USD 7.6bn, a 5.8% reduction from 2013. IUMI’s Ocean Hull Committee Chairman, Mark Edmondson, commented, “Overcapacity and a flatter cycle are the new normal. Hull underwriters are facing extremely challenging market conditions driven by chronic over capacity. Rates are highly competitive and to achieve an acceptable profit insurers require a sensible and well-conceived mix of business; a thorough knowledge of risk and increasingly good fortune. Other factors influencing the hull market include malicious and non-malicious cyber threat; oil price volatility; and technological advancements of vessels in scale, size and complexity.
Atlantic Marine Sets Up Marine Survey & Consultancy Arm
Atlantic Marine Associates Inc. (AMA) a member of the Eagle Ocean Group appoints John S. Poulson to head the new service. Trading as AMA Consulting Services, the new entity is led by John S. Poulson, latterly president of GL Noble Denton, New York, and a leading expert in the marine engineering, survey, loss prevention and consultancy fields. AMA Consulting Services’ principal activity is carrying out independent surveys, investigations, advisory and other consultancy work for a broad maritime clientele…
Brand to Rejoin TITAN Salvage
Captain Dennis Brand will rejoin TITAN Salvage, Crowley Maritime Corporation’s Pompano, Fla.-based, marine salvage and wreck removal company, as director of global commercial operations, reporting to company Managing Director Rich Habib on January 2, 2013. As a member of the company’s senior management team, Captain Brand will help shape strategic, operational and commercial business initiatives particularly as they relate to emergency response, securing salvage and wreck removal work for TITAN around the world.
International Seminar To Be Held in Hong Kong
ITOPF, OCIMF and INTERTANKO will be holding a series of meetings in Hong Kong at the beginning of November 2002. These meetings will bring together senior representatives from the world's oil, tanker shipping and marine insurance industries. The three organizations are therefore taking the opportunity to organize a one-day international seminar on Tanker Safety, Pollution Prevention, Spill Response and Compensation, which will be held the same week as the autumn meetings of INTERTANKO's Executive Committee and Council. The seminar will feature speakers and presentations from the associations involved as well as by specialists within their fields, including: Jan Kopernicki, Chairman of OCIMF, Dr.
