Risk Management News

Ordtek has announced the appointment of Gary Thirkettle as their new Operations Director.With a career spanning over 25 years in the offshore site investigation industry, he brings a proven depth in both operational and commercial experience to Ordtek.Ordtek has recently opened an office in Boston, USA to support a number of offshore wind farm developments in the region. After the success and lessons learnt in Virginia, Ordtek is now helping shape offshore UXO risk management in the USA through industry guidance.

A new report has identified the ten technology trends, and their associated risks, that will shape industry and society in the coming decade.The rapid advancement of digitalization is behind many of the trends, profoundly challenging our personal and societal assumptions, according to DNV GL, the global risk management and quality assurance company.The report 'Technology Outlook 2030' said that the relationship between humans and technology is switching, with humans increasingly augmenting the decisions of artificial intelligence…

Japanese shipping company NYK has signed  a long-term industrial research and development project agreement with Tromsø-based Dualog which aims to result in a cutting-edge Cyberrisk Management System for vessels.The project announced today at the Norwegian Embassy in Tokyo will receive two years of funding from the Norwegian government fund Innovation Norway.The agreement will see the development of digitized products and services across a test-bed of 50 vessels with a view to…

3-Day Event Gathers Industry Leaders to Focus on Risks to the Marine Transportation SystemFrom November 13-15, the 10th annual Maritime Risk Symposium (MRS) will take place at SUNY Maritime College bringing together academics, government, and commercial entities to discuss threats, challenges, and risks associated with the Marine Transportation System (MTS).Key industry leaders participating in the event include First Coast Guard District Commander Rear Admiral Andrew Tiongson, MARAD Administrator Mark “Buz” Buzby, and New York State Supreme Court Judge John Ingram. “A resilient Marine Transportation System is imperative to our Nation’s economic prosperity and national security…

Guatemala’s Superintendence of Tax Administration (SAT), customs entity, has recognized APM Terminals Quetzal’s transparency and security through its accreditation as an Authorized Economic Operator (AEO). The terminals achieved a 100% compliance rating.The terminal uses a state-of-the-art terminal operating system to optimize security, control and cargo management. It also enables customs and customers to work together as efficiently as possible.Authorized Economic Operator (AEO) recognized the terminal’s compliance with international and local security standards…

The evolution of marine design is increasingly influenced by three drivers: New three-dimensional design tools, the increasing complexity of power systems, and new access to high-latitude shipping routes. While new digital design tools are a natural progression of the current Information Age, new propulsion energy requirements and Polar shipping routes are reactions to the legacy of the ebbing Industrial Age. Three-Dimensional Design WorkflowsA young naval architect recently stated…

Sembcorp Marine earns 3D printing certifications for parts used in construction and repairsThese certifications will help the Group unlock significant efficiencies and reduce supply chain risksSingapore-based Sembcorp Marine has received certifications qualifying its 3D printing procedures and specifications for components used in its construction and repair projects, paving the way for new efficiencies and reduced supply chain risk, the company said.Awarded by quality assurance and risk management company DNV GL…

The United States Coast Guard Marine Safety Alert 06-19 (USCG MSA 06-19) outlines a February 2019 incident aboard a deep draft commercial vessel that called on the Port of New York / New Jersey after experiencing a significant cyber incident that impacted their shipboard network. The Safety Alert stated in part:“An interagency team of cyber experts, led by the Coast Guard, responded and conducted an analysis of the vessel’s network and essential control systems. The team concluded that although the malware significantly degraded the functionality of the onboard computer system…

Mariners looking for insurance have a new option that is touted as being fast and affordable, cared for immediately in an online format that is designed to be more expedient than ever.360 Coverage Pros launched a new Marine License Insurance Program for mariners that offers an entirely online buying experience combined with low monthly payment options and instant proof of coverage.Until now, the process of securing a marine license insurance policy involved requesting quotes,…

Connectivity is the backbone of modern maritime operations as ships and boats at sea increasingly become connected. We recently met with Martin Kits van Heyningen, CEO, KVH, to discuss the evolution of communication in the maritime sector and so much more, as KVH is diverse and engaged in a number of markets -- including autonomy for 10 years with work on about 30 different  platforms for self-driving vehicles.To start, give us a “State of KVH” today.We started originally in the leisure market…

Intercontinental Exchange, operator of global exchanges and clearing houses and provider of data and listings services,  reported new milestones in the trading of the TTF natural gas and JKM LNG (Platts) contracts.In September, TTF Futures and Options hit an all-time monthly volume record of more than two million lots (2,023,848), equivalent to 1,484 TWh. TTF Futures set a new daily volume record on September 10 of 193,695 lots, equivalent to 142.1 TWh.TTF is the most liquid European natural gas benchmark…

DNV GL, the global quality assurance and risk management company,  has awarded Siemens Gamesa Renewable Energy (SGRE) with type certification for the manufacturer's new 8MW offshore wind turbine.The certificate for the SG 8.0-167 DD machine confirms full compliance of the turbine design to the international wind turbine standard IECRE OD-501 and allows for immediate market implementation.The turbine will be installed in offshore wind parks worldwide including the 1,400 MW Hornsea 2 project in the UK and the 900 MW Greater Changhua 1 & 2a project in Taiwan.Compared to its predecessor…

Seaspan Shipyards (Seaspan) has announced the appointment of James Clarke as Chief Financial Officer (CFO). With more than 15 years of senior finance experience in engineering and industrial environments Mr. Clarke brings his strong background in strategic finance to Seaspan’s growing shipbuilding and ship repair operations.Clarke joins Seaspan from the Houston, Texas, office of SNC Lavalin where he was the Chief Financial Officer and Senior Vice President of Finance for the Oil and Gas Division with operations in the Americas, Middle East, and Australia.

Japan's shipping giant Nippon Yusen Kaisha (NYK) has been selected for the Dow Jones Sustainability Indices (DJSI), the world's leading investment indexes for ESG (environmental, social, and governance) criteria, for a 17th straight year.The DJSI, which is a major global index for companies engaging in ESG initiatives, is composed of selected sustainability-driven companies from over 3,500 worldwide companies invited to participate in a selection process consisting of an in-depth analysis of economic…

Cosco Shipping Ports (CSP), the biggest terminal operator in the world, has appointed Feng Boming as its new chairman, replacing Zhang Wei who has quit the position.Feng  Boming, a non-executive Director of the Company, has been re-designated as an Executive Director of the company and appointed as the Chairman of the Board.Zhang Wei confirmed that he had no disagreement with the Board and there was no matter relating to his resignation that would need to be brought to the attention…

DNV GL has signed a four-year framework agreement with TenneT to provide project certification for new High Voltage Direct Current (HVDC)  substations linked to offshore wind farms in the German North Sea.Agreement includes certification of TenneT’s DolWin5 converter platform with cost-saving offshore grid connection concept. TenneT awarded DNV GL the contract following an independent EU tendering process.Under this framework agreement, DNV GL is expected to carry out project certification for upcoming TenneT’s HVDC platforms…

ABS has appointed well-known cyber expert Ian Bramson as its Global Head of Cyber Security. In this role, Bramson will lead the development of a cyber security risk reduction program to meet increasing demand for improved control and visibility of cyber risks.Bramson has helped organizations solve cyber-related business challenges, such as managing the convergence of information technology with operational technology (OT), supporting risk management and enabling digital transformation. Before joining ABS, Bramson was the Global Head of Cybersecurity Sales and Strategy for Siemens AG.

The airline industry has long employed flight data to monitor navigational and operational practices for evaluation and feedback to pilots using a system called Flight Operations Quality Assurance (FOQA). Now a similar concept is coming into the shipping industry. Danelec Marine, a well-known manufacturer of VDRs and ECDIS products, this month unveiled a new Bridge Operational Quality Assurance (BOQA) system. To learn more, we talked with Hans Ottosen, CEO of Danelec, a Danish…

Genscape Maritime’s Vessel Coverage of U.S. Inland Waterways offers new perspectives and a leg up on the competition. In today’s transportation markets, information is everything.It was back in 2016 that Genscape announced the complete integration of more than 400 terrestrial AIS antennas in North America, providing an impressive level of data accuracy and visibility into ship movements in the U.S. today, Genscape’s proprietary antenna network offers customers insights into ship movements…

Singapore-based LNG company Pavilion Energy said its wholly owned subsidiary Pavilion Energy Trading & Supply has agreed to buy Spanish energy company Iberdrola's portfolio of liquefied natural gas (LNG) assets.The portfolio comprises about 4 million tonnes per annum (mtpa) of Iberdrola's long-term LNG sale and supply contracts.It also includes long-term regasification of approximately 2 mtpa at the Grain LNG terminal (UK), regasification access in Spain and the Spanish-France border pipeline capacity, as well as the time-charter of a newbuild MEGI LNG vessel.

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. Cargo handling and management systems;3.Propulsion and machinery management and power control systems;4.

The international shipping industry is responsible for around 90% of world trade. There are around 60,000 merchant ships, transporting every kind of cargo.The world fleet is registered in over 150 nations, and manned by over a million seafarers, meaning the safety of vessels is critical. The maritime industry saw the number of total shipping losses of vessels over 100GT plummet during 2018 to 46 – the lowest total this century. To put this into context there were 207 total losses…

Classification society ClassNK has released its Guidelines for Software Security which target software developers, system integrators and more.As part of its Cyber Security Series, ClassNK regularly releases guidelines and standards that outline cyber security measures based on the recently-released ClassNK Cyber Security Approach outlining the group’s basic approach to ensuring onboard cyber security for ships.The new guidelines, released as the third and latest part of the series, aim to assist with risk management focused on software used on board vessels.