Risk Management News

ChartWorld launched its next generation eGlobe G2+ ECDIS, reported by the company to be the world's first 4K ECDIS..“ENCs and ECDIS, like paper charts before them, are at the heart of modern navigation," said Steven Schootbrugge CEO, ChartWorld, in a press release on the product. "One of the great advantages of digital navigation is our ability to navigate more accurately and update charts quickly as more detailed, or even specific, information becomes available.”ChartWorld’s…

The evidence and industry subject matter experts both say ‘yes.’In its recently released SAFER SEAS DIGEST, Lessons Learned from Marine Accident Investigations (2017), the National Transportation Safety Board (NTSB) reports investigating numerous accidents across all modes of transportation where a properly implemented safety management system (SMS) could have prevented injuries, loss of life, or material damage. That document spans analysis of casualties across the full spectrum of all manners of marine craft…

The Indian Register of Shipping (IRClass) said that it is now recognised by 41 flag states globally, seeing recent additions in 2018 from the Netherlands, Vietnam, Jordan and Bahrain.Towards the end of 2018, it also received approval from Abu Dhabi National Oil Company (ADNOC), strengthening its offshore portfolio in the Middle East and opened an office in the Kingdom of Saudi Arabia to better service its customers in the region.IRClass claimed in a press release that it continues to record steady growth in its classed fleet…

Crowley Maritime appointed Parker Harrison to its leadership team as senior vice president of procurement and risk management, effective Jan. 1, 2019. Harrison, former VP of procurement, will continue to be based at the company’s headquarters in Jacksonville, and will report to Bill Pennella, vice chairman and executive vice president.In her new role Harrison will work across all of Crowley’s business units to strategically align risk management functions while continuing the company’s procurement transformation into a strategic center-led competency.

The American Waterways Operators (AWO) has released a new publication - Cyber Risk Management: Best Practices for the Towing Industry, Version 1.0.This best practices guide is the product of a year-long initiative of the Cyber Risk Management Quality Action Team, an AWO workgroup, with technical input and guidance from Coast Guard prevention staff. The guide is designed to help the towing industry identify and manage cyber risks and detect and respond to cyber attacks or accidents.Cyber Risk Management: Best Practices for the Towing Industry, Version 1.0, is available on AWO’s website.

Lloyd's Register (LR), one of the leading global providers of engineering and technology-centric professional services, announced that it is partnering with AXELOS RESILIA Frontline to offer its customers engaging cyber awareness training for all their employees.According to a release from LR, the new addition to the LR Cyber Resilience portfolio will provide an effective solution to the ‘human factor’ and addresses the need for sustained behavioural change to build an organisation’s…

Milaha, a Qatar-based shipping and logistics conglomerate, participated in the 2nd Business Continuity and Resilience Conference, which was held in Doha on November 20th, under the patronage of H.E. Minister of Commerce and Industry Ali bin Ahmed al Kuwari and attended by business continuity, risk management and organizational resilience professionals from all sectors.Milaha’s PCEO Mr. Abdulrahman Essa Al-Mannai headed the company’s delegation to the conference where he delivered a presentation…

As the Offshore Service Vessel Dynamic Positioning Authority’s new dynamic positioning operator (DPO) certification body evolves, its pathway to training and certification gives mariners options, and a seat at the table.The other day I was thinking about what makes me a captain. What I came up with as the relevant points were the ability to handle the vessel and read the environmental conditions, leadership abilities, risk detection and mitigation, managing peers, and mentoring my crew.

Indian Register of Shipping (IRClass), a leading international classification society, plans to further expand its operations into the Middle East and Africa (MEA) region with new offices in Saudi Arabia, Qatar, Egypt, Lebanon and Nigeria.The expansion plan underlines its commitment towards the growing number of customers from this region and enhances the classification society’s proximity to flag administrations, ship owners, shipyards and other stakeholders in the MEA region.Promoting its new strapline - ‘Your Partner in Maritime Risk Management’…

The world’s largest testing facility for carbon capture, Technology Centre Mongstad (TCM), has signed a collaborative agreement with DNV GL to deliver advisory and verification services for CO2 capture technology.According to a press release from the quality assurance and risk management company, the new global advisory partnership will offer advisory and verification services at TCM`s facilities on the west coast of Norway and other worldwide carbon capture projects.Carbon capture…

BMT’s integrated navigation and maneuvering simulator suite REMBRANDT has been awarded Class A, B and C certification from DNV GL. The certification further builds on BMT REMBRANDT’s 30-year history as one of the maritime industry’s most recognized advanced project engineering support tools, supporting marine pilotage, ship operations, port design and risk management associated with complex transportation infrastructure systems.This classification award verifies BMT as a quality…

Initial reports show that the towing industry is adjusting well to the new normal on inland rivers. In fact, it is business as usual for most.July 20, 2018 was a critical date for tow boat operators. That was the deadline for all U.S.-flag towing vessels – over 26 feet, or less if used to assist with transport of oil or hazardous materials – to be in compliance with Subchapter M, the U.S. Coast Guard’s towing vessel safety regulations. It’s been a long time coming. As a regulatory program…

HudsonAnalytix, Inc. has hired Chronis Kapalidis in London to focus on the enhancement and expansion of the firm’s strategic partnerships in Europe.An innovative researcher from one of the world's leading think tanks who is currently examining maritime cyber risk, Kapalidis brings with him his extensive field experience in maritime security operations in both the physical and cyber domains.“Chronis is a strategic thinker who will contribute the development of current and upcoming products and services in response to the shipping and port industries’ needs…

A major investment in new frigates and submarines by the Australian government has created long-term opportunities for UK and European businesses with relevant intellectual property and expertise, said Moore Stephens. This summer the Australian government awarded UK firm BAE Systems a contract to build nine next-generation frigates – known as the ‘Future Frigates’ project – worth A$35 billion, said a research report written by Moore Stephens' Michael Simms & Grant Miles.The programme…

The Coast Guard has developed two separate mitigation system prototypes specifically designed for inland and offshore environments and tested them in the Kalamazoo River and Lake Huron.Whenever there is a need for oil, there will always be a risk of oil spills. This is no less true for bituminous sands, commonly known as oil sands or tar sands. Oil sands are mostly found in Alberta, Canada, and comprised of bitumen, sand, clay and water. They are typically viscous, with a texture similar to peanut butter.

Large shipping losses have declined by 38 percent overall in the past decade, according to the Safety & Shipping Review 2018 by Allianz Global Corporate & Specialty (AGCS).Further, the number of total losses declined by 4 percent to 94 last year, the second lowest number in a decade.“Insurance claims have been relatively benign, reflecting improved ship design and the positive effects of risk management policy and safety regulation over time,” says Baptiste Ossena, Global Product Leader Hull & Marine Liabilities…

Floating production, storage and offloading vessels (FPSOs) are in the ascendancy. The total FPSO market is now expected to grow to over $117 billion by 2024. A combination of factors, such as the recovered oil price and renewed interest in deeper, more marginal new reserves, have made these vessels the understandable choice for an industry that still remembers the travails of 2014.But nothing can be taken for granted. With an uptick in activity, operators need to be wary of supply-chain risks. Valves are a critical component of any new project and they must adhere to strict standards.

Unmanned systems are finding a growing number of applications in the maritime sector, and have the potential to make a significant contribution to safety and risk management, says the Allianz Global Corporate & Specialty's (AGCS) Safety and Shipping Review 2018.These include assessing environmental pollution, monitoring cargo loading and pirate activity along coastlines and carrying out cargo tank inspections. Drones could enable faster, more informed decisionmaking on board, reducing the impact of any incident.

The ongoing comprehensive review of the International Maritime Organization (IMO) treaty on Standards of Training, Certification and Watchkeeping for Fishing Vessel Personnel (STCW-F) is set to continue this week. The Sub-Committee on Human Element, Training and Watchkeeping (HTW 5), meeting at IMO Headquarters (16-20 July), will continue its work to review the minimum standards of competence set out in the treaty in order to bring them up to date and reflect realities in the fishing industry. The STCW-F treaty was adopted in 1995 and entered into force in 2012.

Ports making up for lost timeDespite the critical role the maritime transportation system plays in the economic health of the United States, and despite its fairly recent embrace of all things automated – cranes, vehicles, surveillance and even vessels – the sector has been slow to warm to the need to protect its digital systems and assets.Post 9/11, security concerns about the nation’s borders, air space and infrastructure, including ports, moved front and center for a brief moment before other concerns…

Shipowners Claims Bureau, Inc. (SCB), the Manager of the American P&I Club, has recently announced a series of appointments designed to service the Club’s growing membership and help fulfil longer-term goals of continued expansion. The American Club has grown its membership substantially over recent years, tonnage having increased by some 25 percent over the past 24 months, and these appointments are intended to consolidate the Club’s continuing service capabilities in the future.The…

Confidence in the ability of sound risk management to contribute to commercial success in the shipping industry has fallen in the last 12 months, according to the latest annual Shipping Risk Survey from Moore Stephens.Respondents to the survey rated the extent to which enterprise and business risk management is contributing to the success of their organisation at an average 5.9 out of a possible score of 10.0, compared to 6.8 in the 2017 survey.Brokers returned the highest rating, followed by ship managers.

China's targeting of U.S. liquefied natural gas and crude oil exports opens a new front in the trade war between the two countries, at a time when the White House is trumpeting growing U.S. energy export prowess.China included LNG for the first time in its list of proposed tariffs on Friday, the same day that its biggest U.S. crude oil buyer, Sinopec, suspended U.S. crude oil imports due to the dispute, according to three sources familiar with the situation.On Friday, China announced retaliatory tariffs on $60 billion worth of U.S.