CAP LETTER 56.pub

CAP-MARINE
A s s u r a n c e s & R é a s s u r an c e s S . A . S .
We b : w w w.c a p - m a r in e .c o m
CAP-LETTER
HEADLINES
♦ IUMI rejects industry plan to 1
IUMI rejects industry plan to buy
salvage equipment
Numéro 56
D é c e m b r e 2 0 13
buy salvage equipement
♦ Le premier vraquier —
B. Delta 37
♦ MOL
Comfort—Insurers
await deluge of claims
♦ Underwriters urged to use
modelling price
♦ West African pirates could
hit cargo market
2
♦ Les Députés européens aler- 3
tés par Vigipol sur les
risques du transport
♦ Salvage agreement prior to
enter US water
♦ IUMI pledged a plea from
IMO
♦ P&I renewal 2014
4
♦ Unifeeder launches FranceRussia service
♦ World’s first modular capture
vessel
Marine Insurance &
Reinsurance Brokers
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1201 GENEVE
SUISSE
The International Union of Marine Insurance’s president has dismissed the opportunity to support an industry initiative
to solve the problem of general average
claims and giant containerships, insisting
the underwriters’ remit is to pay claims.
The initiative is the brainchild of Swiss Re
head of London marine, Peter Townsend,
and would see the marine insurance industry, along with every other section of the
shipping industry, invest in specialist and
dedicated salvage equipment, which would
be spread evenly across major trade
routes. As a chair at the Joint Hull Committee, he claimed to have buy-in from the
salvage industry and to have opened a
dialogue with the protection and indemnity
insurance market. But today’s statement
appears to dash any hope of support from
industry body IUMI. “Underwriters are running a commercial venture that’s there to
pay for the losses that actually occur. We
can’t really pay for contingency, even if
contingency in the longer haul is in our best
interests. It has to be a fine balance between what we can expect to pay up front
and what we can expect to pay as a part
of the salvage effort.”
The new generation of megacontainerships presents significant challenges to both the insurance and salvage industries. Salvage of the 4,000 teu Rena off
the coast of New Zealand last year was
beset by problems, even though that vessel
is significantly smaller than the 18,000 teu
vessels that are now being launched.
LIVRAISON DU B.DELTA 37,
SUCCESS STORY DE
BARRY ROGLIANO SALLES
L’armateur chinois China Navigation (groupe Swire, de Hong Kong)
a pris livraison du WUCHANG, un
vraquier de type handysize de 39
000 tpl construit par le chantier de
Chengxi.
Le WUCHANG, classé au Lloyd’s
Register, est le premier vraquier
de type B.Delta 37 à entrer en
service. Il précède de peu le LA
BRIANTAIS, de Louis Dreyfus
Roullier. 23 autres doivent suivre
pour ce même armateur, 15 construits à Chengxi et 8 dans un autre
chantier chinois, Ouhua.
Le B.Delta 37 est un design révolutionnaire qui est la success story du
moment. 57 navires de ce type ont
été commandés dans 5 chantiers
chinois, tous par l’intermédiaire de
Barry Rogliano Salles, courtier qui
a l’exclusivité du design.
Further evidence of the difficulties, and the costs, that can arise emerges more
starkly with the Costa Concordia loss, which although a cruiseship, has suffered some
of the same problems as Rena, such as the intervention of national and local authorities and significant media coverage.
Source: Lloyd’s List—September 2013
Rédacteurs
Joyeux Noël et meilleurs vœux
Jean-Jacques GIRARD (Neuilly)
Gaspard MOTTE (Bois-Guillaume)
Seasons’s greetings
CAP-LETTER
IUMI 2013
Insurers await deluge of claims from
MOL Comfort casualty.
Underwriters price for attritional losses
or for major losses but not both
Japanese insurers and those in London are facing the bulk
of physical loss claims following the total loss of MOL Comfort, when the vessel broke in two before sinking in July.
Having released a recent damning report on the
marine market, underwriters were pricing for
attritional losses or pricing for major losses but
were not pricing for both.
In a recent London IUMI gathering, Tom Bolt,
Lloyd’s expert, though reluctant to the idea
urged the underwriters to use modeling in marine
insurance pricing due to the failure of the marine
insurance industry to save enough premium for a
“rainy day” that highlights the losses stemming
from Costa Concordia, Rena and MOL. He stated
that the growing cost of salvage operations is a
real concern for the underwriting industry as vessel sizes increased.
MOL had a $66m hull and machinery policy in place for
the vessel, with Mitsui Sumitomo holding a 77% share,
Tokio Marine 20% and the final 3% placed with Sompo
with an IV of $17m placed in the London insurance.
When MOL first encountered problems in mid-June it carried 4,382 40 ft, 20 ft containers. The next day it had
around 1,700 containers after the hull broke and in the
end sank in short weeks after. It all means that not only
both insurers are facing a $66m loss but also exposed to
potentially vast cargo insurance claims with approximately
$50,000 for average value of a container’s contents... increasing substantially for containers travelling from Asia
(Singapore, Korea or Japan) to Europe containing mostly
electronics or high-value clothing bound for western markets. Even valuing each of the containers at the lower
$50,000 estimate would leave cargo insurers facing MOL
Comfort claims in excess of $200m. Sentiment in the marine insurance market suggests the true cost of cargo claims
will be in the $300m to $400m bracket however, based
on an average container value of $75,000. While cargo
insurers will have no doubt been hit with claims, the impact
on the market is not expected to be significant.
Source: Lloyd’s List – September 2013
Over the last decade, the revenue generated
from wreck removal has risen dramatically according to the ISU’s (International Salvage Union)
annual statistics recently published showing more
than $500m value each year for performing between 150-200 salvage services and conducting
25-45 wreck removals with a variety of contracts within a year. At the same time the ISU
noted a gradual decline in the number of services performed under Lloyd’s Open Form contracts.
Source: Lloyd’s List – September 2013
West African pirates could hit cargo market as hard as those in Somalia
PIRACY in West Africa is the “perfect crime” and one that has the potential to hit the cargo market as hard as
Somali piracy, according to Gray Page’s head of intelligence Jim Mainstone. He added in the recent IUMI conference that pirates on ships were the “tip of the iceberg” in a massive, sophisticated network that is heavily embedded
within society with a rough calculation reaching the cost of piracy in the Gulf of Aden and Indian Ocean minimum of
$215m for cargo insurers over the last five and a half years.
Hijacks are over in the Indian Ocean and in particular, West African hijack for cargo has cost cargo insurers $80m in
the past two and a half years. According to the Gray Page data there were eight cargo losses in 2011 and 2012,
three so far in 2013 due to almost inexistent intelligence but also to the pirates’ newer operating. Since attacks are
geographically evolving with West Africa now became a growing concern the fundamental differences between Somalia and the Gulf of Guinea did exist. Dennis Marvin, chairman of the Cargo committee explained that in Somalia
the ransom issue meant that cargo payouts were based on general average. However, in West Africa hijack for cargo means they were paying direct claims.
Therefore Mainstone insisted that it was important for vessels to be assessed in terms of vulnerability and that shipowners and charterers needed to work together to achieve this.
Source: Lloyd’s List – September 2013
CAP-LETTER
Vigipol alerte les députés européens sur
les risques du transport de conteneurs
Le syndicat mixte de protection du littoral breton
Vigipol, regroupant 109 communes de Brest à
Cancale, va être auditionné par le Parlement
européen le 17 décembre sur la problématique
des risques liés au transport maritime de conteneurs.
Le dernier incident du Maersk Salina, qui a perdu 45 conteneurs au large de la Bretagne dans
la nuit du 27 au 28 octobre, a ravivé les inquiétudes des élus de la côte. « Cet événement s’inscrit dans la continuité des récents accidents impliquant des porte-conteneurs. Le nombre d’accidents augmente sérieusement depuis ces dix
dernières années. On en dénombre 74. Les accidents récents du MSC Flaminia et du MOL Comfort viennent ainsi s’ajouter à ceux non moins
inquiétants du MSC Napoli, du Rokia Delmas et
du Rena. Cela confirme que le transport maritime par conteneurs connaît un problème majeur
de sécurité bien que les risques qu’il engendre
demeurent encore largement sous-estimés.
La question du gigantisme des porte-conteneurs
est également préoccupante en raison du changement d’échelle. Ainsi, ce qui est problématique
sur un porte-conteneurs classique peut devenir
incontrôlable sur un porte-conteneurs géant de
18.000 boîtes. Quel serait l’impact d’un tel mastodonte en avarie de structure, sans propulsion,
dans le mauvais temps, près de la pointe bretonne ou dans le détroit du Pas de Calais ? »,
s’interroge Vigipol.
Le syndicat mixte anime depuis plus d’un an un
groupe de travail sur la question. « Il ressort de
ces travaux que la dangerosité des porteconteneurs est un fait, non une fatalité ». C’est
donc également dans le but d’approfondir des
travaux que Vigipol va s’exprimer devant les
institutions européennes.
Source: Mer et Marine, Novembre 2013
SALVAGE AGREEMENT PRIOR TO ENTER US WATER
The US Coast Guard has advised shipowners that all non-tank
vessels of 400 gt or larger operating in US waters must have an
agreement with a salvage and marine firefighting provider, and
list pre-defined response resources, by next January. The new
rules will apply to more than 14,000 ships.
The sharp drop in oil spills in the region since OPA 90 came into
effect prove that the US approach, regarded as so controversial
at the time, is the right way to go, says Svitzer Salvage chief
executive Peter Pietka.
Instead of scrambling to work out how to respond to an incident
after it has happened, all shipowners whose vessels operate in
US waters will have to have a plan in place beforehand, from
early next year.
Leading salvage companies also need to distance themselves
from the opportunistic reputation of the wreck removal and
emergency response industry, and develop long-term partnerships with shipowners so that time is not lost while contract terms
are negotiated in the event of an accident.
Svitzer Salvage, which has just signed the largest wreck-removal
contract of the year involving an offshore installation, worth
around $100m, has signed 15 partnerships so far, including one
with a cruise line and some with governments.
Source: Lloyd’s List - 7 nov 2013
THE International Union of Marine Insurance has pledged to
go beyond a plea from the International Maritime Organization to forge closer contact, saying it has already taken a
stand on several key issues that are driving up the cost
of claims.
Speaking at IUMI 2013 in London, IMO maritime safety division
director Andrew Winbow requested IUMI to promote adoption
of a container-packing code of practice hoping it will serve as
“the first step” towards the regulation of containers weight as
well as to take action on firefighting and on passengership safety, recognising that IUMI had done well to promote key causes
but urging it to do more in the future.
According to Helle Hammer, the political forum chairman, IMO’s
Safety of Life at Sea rules on container content and firefighting
were insufficient — especially for large containerships – therefore IMUI favoured mandatory declaration of container weights
and supported scanning containers as the lobby on these issues
will continue. Places of refuge, use of low-sulphur fuels and catfine damage to engines were also discussed. On the stricken
cruiseship Costa Concordia, Hammer favoured a solution coming
from the IMO, rather than from Italy or from Europe.
Le Maersk Salinia, octobre 2013 — crédits : Marine Nationale
Source: Lloyd’s List – September 2013
CAP-LETTER
CAP-MARINE ASSURANCES & REASSURANCE SAS
Protec on & Indemnity
Renewal season 2014
General increases announced for renewal season 2014
Britannia
2,50%
SOP
5,00%
Gard
5,00%
WOE
7,50%
NoE
7,50%
Japan
7,50%
UK
10,00%
American club
10,00%
Steamship
10,00%
London
10,00%
Standard
12,50%
Skuld
case by case
SWE
7,50%
SHARP premium rises are the order of the day for the majority of the International Group protection and indemnity
insurers ahead of next year’s renewal, with clubs trying to
balance a falling number of attritional claims against a rise
in the individual cost of these losses.
SENEGAL: mise en place du système ORBUS 2000
au 1er janvier 2014
Après plusieurs mois de report, la mise en place de
l’interface assurance du système ORBUS 2000 sera effective au 1er janvier 2014. Le système ORBUS 2000 est
déjà utilisé au Sénégal depuis plusieurs années pour réaliser les opérations de dédouanement des marchandises
à l’importation vers le Sénégal.
Désormais, la saisie des certificats d’assurance pour les
marchandises importées au Sénégal devra se faire également par l’intermédiaire de ce système informatique, ce
qui aura pour effet de rendre caduque l’utilisation des
certificats papier existants.
Unifeeder launches France-Russia
service
Shortsea operator Unifeeder has entered the
French market. The new service, operated by
Unifeeder Shortsea, will launch in November,
connecting to the rest of the Unifeeder network through Rotterdam. It will also offer
space for reefer boxes. Simon Galsgaard
was convinced of the highly interesting markets in France as the success hit the Antwerp to
St Petersburg service last year with an opening sales office in Moscow and Düsseldorf.
Agence Maritime Rommel as its agent was
appointed by Unifeeder to represent them in
France.
Source: Lloyd’s List – September 2013
The London P&I Club says that
a recent analysis of collision
cases has highlighted the effect
complacency has on casualties
The club recently undertook a ‘root cause’
analysis of collision cases, which concluded that
the majority could be
categorised as human
error, with complacency
often a significant contributing factor. A recent incident causing a collision between an
overtaking containership and a bulk carrier
happened just forward of the bridge on the
starboard side possibly due to the delay of
the watch handover. According to the club,
misplaced complacency and over-confidence
on OOW’ side (the officer of the watch) may
have significantly contributed to the resulting
collision claim.
For the complete story please consult:
The London P&I Club's 'StopLoss Bulletin's link:
http://www.londonpandi.com/ship-inspectionstop-loss/bulletins/
Pour plus d’informations, contactez Cap-Marine.
Source: London P&I Club—November 2013