Risk Management Tool News

China's COSCO Shipping Group and the Dalian Commodity Exchange (DCE) have signed an agreement to jointly work on developing shipping derivatives such as container capacity futures, according to an article posted by the bourse on Thursday.China's largest shipping line has been talking to the DCE for years about shipping futures.

The year 2020 has presented a litany of challenges to the safe movement of global project cargo. While heavy lifts and engineered cargo movements always present challenges from a rigging and execution standpoint, we have also faced exceptional challenges on other fronts. These have included cancelled vessel bookings, port facilities as well as prefabrication/modulization yard closures, lack of vessel and facility access as well as travel restrictions. At Allianz Global Corporate & Specialty (AGCS)…

ChartWorld has launched MyFleet, a free-of-charge cloud-based tool designed to support onshore teams to check and assess risk in a ship’s voyage plan,Following recent legal decisions, voyage plan due diligence by the vessel owner or ship manager has taken on increased, and urgent importance. Oliver Schwarz, ChartWorld’s Business Development Director, said, “A ship being ‘at sea’ is no longer a viable or legal defense for lack of shore-based oversight. Improvements in communications…

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, followed by ICE’s UK Natural Gas Futures (NBP).Europe’s interconnected natural gas infrastructure allows it to absorb LNG arriving…

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…

DNV GL’s latest Container Ship Forum and Bulk Carrier Forum looked at a broad spectrum of topics including environmental regulations, trends in ship design as well as the new DNV GL rule set. Some 150 representatives from the container and bulk industry met with DNV GL experts at the forums in Hamburg to hear the presentations and participate in informal discussions. As economy of scale is reducing transportation costs per box, the demand for ever bigger vessels is continuing.

Structured and analytical risk management have direct effects on a company’s ability to build a competitive advantage. To support organizations with one complete solution for managing operational, project and enterprise risk DNV Software has now incorporated the risk management tool EasyRisk Manager with the Synergi Life risk and QHSE-management solution. It provides a real time snapshot of a company’s risk picture. The focus of organizations on risk management has increased due to extended governmental requirements, increased demands for transparency and sustainability and compliance towards standards. As structured and analytical risk management has direct effects both on profit…

Structured and analytical risk management has direct effects on a company’s ability to build a competitive advantage. To support organizations with one complete solution for managing operational, project and enterprise risk DNV Software has now incorporated the risk management tool EasyRisk Manager with the Synergi Life risk and QHSE-management solution. It provides a real time snapshot of a company’s risk picture. The focus of organizations on risk management has increased due to extended governmental requirements…

DNV Software incorporates risk management tool EasyRisk Manager with the Synergi Life risk & QHSE-management solution. DNV Software explains that structured and analytical risk management has direct effects on a company’s ability to build a competitive advantage. In order to support organisations with one complete solution for managing operational, project and enterprise risk DNV Software has now incorporated the risk management tool EasyRisk Manager with the Synergi Life risk and QHSE-management solution. It provides a real time snapshot of a company’s risk picture.

Saxo Bank and ICAP Shipping Involved in World's First Electronic Container Freight Swap Settled in USD. Saxo Bank, the trading and investment specialist, and ICAP Shipping, the shipping arm of ICAP plc, announced on Thursday that they were involved in the execution of the world's first electronic, voice-assisted trade of a container freight swap agreement settled in US dollars. The counterparties to the trade were Saxo Bank in Denmark as the buyer and a Netherlands-based trading house as the seller. ICAP Shipping was the broker of the trade. The container freight swap agreement was executed on ICAP's Webtrader platform, with manual input from ICAP Shipping brokers and cleared by LCH.Clearnet. The trade was executed by rugby star Lawrence Dallaglio during ICAP's 19th annual Charity Day.

Insurance claims arising from pre-existing medical conditions among seafarers are almost non-existent from those passing the U.K. P&I Club's Crew Risk Management Project medical examination. The 42,000 successful crew candidates have yielded just 106 repatriation cases in the six years since the program started. In only one case was the claim related to a pre-existing medical defect. According to Daniel Lee, the program's director, this has been a major achievement. provided a free health check for seafarers and advice on treatment for the unfit. He was speaking to delegates from some of the world's leading ship managers at the Lloyd's Ship Manager Conference in Cyprus on October 10th.