The Swedish Club has celebrated the 35th Anniversary of its office in Hong Kong. Since the office was established, the Club has seen steady and consistent growth in its business in the area – both in terms of its full service product offerings and the tonnage insured.
The Swedish Club is also pleased to announce that Brian Png has been promoted to Deputy Managing Director for The Swedish Club in Hong Kong, as of 1 January 2018. Brian is well known to the Asian shipping community and joined The Swedish Club in 2009.
Lars Rhodin, Managing Director of The Swedish Club said: “When we established The Swedish Club in Hong Kong in 1982 we saw a great opportunity to establish a foothold in Asia. At that time Hong Kong had one of the busiest container ports in the world with sophisticated communications and an advanced banking infrastructure.
Speaking from the UN Climate Change Conference in Bonn, ICS Director of Policy, Simon Bennett, has commented on the provisional decision by the European Union not to include shipping within the full scope of the regional EU Emissions Trading System (ETS).
“We think that this demonstrates confidence within the EU institutions in the current progress being made at the UN IMO to develop an ambitious strategy that will deliver additional CO2 reduction measures, consistent with the shipping industry’s own vision of zero emissions, as soon as possible.”
Mr Bennett added: “We understand that the date which the EU has agreed for when the European Commission will next closely examine the progress that has been made globally is consistent with those time lines agreed by all IMO Member States.”
ICS – the global trade association for shipowners – believes the decision also shows a welcome recognition within the EU, including the European Commission, that ETS, is an inappropriate tool for application to an industry like shipping. This is because of the huge risk of creating serious market distortions and the administrative challenge of incorporating tens of thousands of ships operated by thousands of SMEs into a discredited system which the EU is already struggling to reform.
‘Cash is King’, and all too frequently shipowners can find themselves struggling to maintain cash flow following a serious incident, despite having a sound business and a comprehensive set of insurances. The Swedish Club has now designed an insurance solution, Collision Recovery Insurance (CRI), which provides upfront cover for the uninsured losses that are expected to be recovered from a third party following a collision.
“Collisions between vessels can prove to be costly and time consuming, leaving owners out of pocket for substantial amounts over a long period of time,” explains Lars A Malm, The Swedish Club’s Director, Strategic Business Development & Client Relations. “These losses consist mainly of deductibles and loss of earnings, and can have significant cash flow implications.”
CRI is available to any member entered for H&M Lead with the Club, and the Club’s expert team of claims handlers will manage and adjust the claim in-house. Under CRI, the cover is designed to pay the owner the amount expected to be recovered, and this then becomes subrogated to the recovery which will normally be finalised a considerable time after the collision.
Produced with BIMCO, the new programme is designed to help seafarers recognise and respond to cyber threats
KVH VideotelTM has launched a cyber security training programme, produced in association with global shipping association BIMCO, to address the threat of ransomware and other computer system breaches that could severely affect the safety of ships’ crew, systems, and operations.
The maritime industry is in the midst of a focus on cyber security, and the International Maritime Organization (IMO) recently announced that it will soon be mandatory for companies to ensure that cyber security procedures are properly addressed in their ship’s Safety Management System (SMS). To create the training programme, KVH Videotel partnered with BIMCO, which has been active in recent years in researching maritime cyber security; BIMCO published guidelines in 2016 that have become an industry reference on the subject, and released an updated version in July of this year.
The Canadian Parliament is giving consideration to legislation that would have the effect of establishing a moratorium on the shipment of crude oil in the waters of Northern British Columbia (Bill C-48: An Act respecting the regulation of vessels that transport crude oil or persistent oil to or from ports or marine installations located along British Columbia’s north coast). The International Chamber of Shipping (ICS), representing the world’s national shipowners’ associations and 80% of the world merchant fleet, has voiced deep concern about this proposed legislation which it says will interfere with international maritime trade.
“Such a draconian step could lead to serious concerns being raised by Canada’s international trading partners” said ICS Director of Policy and External Relations, Simon Bennett.
ICS asserts that the proposals have not been developed through an evidence-based process, and believes that it would establish an unwelcome precedent that might be emulated elsewhere, including by individual U.S. States, with the potential to impact greatly on the efficiency of world trade, as well as that of Canada.
Emissions, green shipping, manpower – the debate at the International Chamber of Shipping’s (ICS) conference last month was fast paced and at times controversial. With a capacity crowd, and a full LISW schedule there were some who were disappointed when they found this annual highlight clashing with other commitments.
Those who couldn’t make the event can now experience what they missed at this year’s International Shipping Conference. ICS has produced a video of the conference, and today the shipping community can share in the debate first hand.
For many years members and supporters have requested that ICS record the Conference, and this LISW year, with such a strong line up of participants, provided the ideal opportunity.
During the Conference ICS had many positive comments from visitors to the event, who enjoyed watching the high quality moderators challenge the expert panel members. Shipowners and NGOs grappled with the practical steps needed to reduce carbon emissions, panel members pondered whether zero emission vessels were in the realm of fantasy, and there was much debate over the role of crewless ships in our future.
This is all now delivered online through four videos, produced in conjunction with KVH Videotel. Each covers one of the four panel sessions:
• CO2 Reduction: Developing the IMO Road Map
• New Environmental Regulation: Costs of Compliance
• Maintaining Free Trade: Dusk or New Dawn?
• Decent Work for Seafarers: Are We Delivering
For your seat at this year’s ICS Conference click here and choose your debate.
Cargo fires occur so infrequently that awareness of the risk can slip under the radar. Yet such an incident on board a vessel can have disastrous consequences including loss of life or catastrophic loss of the vessel involved. With the average cost of a cargo fire at several million USD, cargo fires are not a risk to be overlooked.The Swedish Club, working in conjunction with Burgoynes, experts specialising in the investigation of fires, explosions and other major incidents, has produced a handbook, ‘Fire! A guide to the causes and prevention of cargo fires’, which can be used alongside the regulations to assist seafarers in their daily loss prevention efforts.
‘Fire!’ offers loss prevention advice on a number of incidents – focusing specifically on self-heating cargoes, but also examining those vessel fires caused by other sources such as cargo hold lights, fumigation, movement of cargo and of course smoking and hot work. It also highlights how different vessel types fare when the frequency of cargo fires is compared. Tanker figures are found to be relatively low, a testament to the tight regulation and safety culture that exists in this industry. On the other hand ro-ro figures are surprisingly high due to the non-homogeneous nature of the cargo they carry.
The Board of Directors of the International Chamber of Shipping (ICS) has appointed Mr Martin Cresswell, Technical Director of the Hong Kong Shipowners Association, as the new Chairman of the ICS Marine Committee.
He succeeds Peter Bond (Cyprus Shipping Chamber) who recently stood down following four years of service as Chairman of ICS’s principal technical committee.
“The Marine Committee is very much the engine room of ICS, overseeing the work of the many ICS technical committees and the development of policy positions which we represent at IMO meetings, on behalf of the global industry as represented by our member national shipowner associations” said ICS Secretary General, Peter Hinchliffe. “We are very fortunate to have signed up Martin as Marine Committee Chairman with his tremendous experience of commercial ship operations and his understanding of the great importance of ensuring that regulators make sensible and practical decisions, as part of our collective effort to further improve maritime safety and the industry’s environmental performance.”
The International Chamber of Shipping (ICS) has used London International Shipping Week to launch a new brand identity, to better serve its important role as the global trade association for shipowners, representing national shipowners’ associations from 37 countries and over 80% of the world merchant fleet.
Speaking from the British Library in London at the brand launch today, ICS Chairman, Esben Poulsson explained:
“Over the next 30 years, new technologies and environmental challenges will completely transform shipping: a vital industry that moves the essentials of life and around 90% of global trade.
“Together with our member national associations, we are working to help shape a vision for the future, in which shipping will become ever more efficient and environmentally sustainable. Our contemporary new brand seeks to reflect what we do with a refreshed and vibrant colour palette, appropriate to a modern global trade association that represents one of the world’s most dynamic industries.”
Experts from Braemar LNG Group gave a full audience a truncated overview relating the technical, commercial and market trends of the often very complex world of LNG shipping.
Andy Bright, Director, (Braemar Engineering) concentrated on the advanced technology and very precise engineering requirements around containment systems and propulsion options. Bright also said that the group was in advanced stages of approval for a new containment system designed by Braemar, particularly suited to small scale LNG including bunkering although not size limited.
Andrew Selby Bennett, (Commercial LNG Shipping, Braemar ACM London) focused on the relevance of the technical specifications to the commercial decisions, demonstrating the importance to the value of the speed and consumption on the differing types of 125-175,000 cubic metre vessels.
The Swedish Club returned a solid performance in the first six months of the accounting year, following the release today of its half year results. Despite its decision to offer a discount of 4 % to all P&I members 2017/2018, the Club delivered an operating surplus of USD 19.0 million for the period in question.
Free reserves are now at a top level of USD 213.8 million, reinforcing the Club’s commitment to meet members’ needs while also allowing for further growth of the business. The combined ratio of 94% continues to show a stable performance, below 100 % on an eight-year average.
Lars Rhodin, Managing Director of The Swedish Club, said: “Our growth remains firmly in line with our agreed plans and has exceeded 70 million GT combined owners’ and charterers’ P&I entries.”
The International Chamber of Shipping (ICS) will address some of the biggest concerns in modern shipping at its annual conference this year, to be held during London International Shipping Week (LISW). Secretary-General to the IMO, Kitack Lim, and ICS Chairman, Esben Poulsson, will be spearheading discussions, following what will have been be an eventful two months in the industry’s legislative calendar.
ICS’s flagship International Shipping Conference will take place on Wednesday 13th September at The British Library, and will focus clearly on an agenda of key issues that are at the forefront of shipping today: CO2 reduction and environmental regulation, the maintenance of free trade and the role of the seafarer.
At the United Nations in New York, the International Chamber of Shipping (ICS) is representing shipowners at a UN Preparatory Committee which is developing a new legal instrument, under the United Nations Convention on the Law of the Sea (UNCLOS), which will apply to ‘high seas’ areas beyond national jurisdiction.
The principal aim of this UN work is to address the vacuum that exists with respect to issues such as preserving global fish stocks from unregulated fishing, and damage to marine ecosystems from ocean acidification and plastics caused by land based agriculture and industry.
ICS says that developing new measures applicable to the high seas is undoubtedly a very important and legitimate exercise, but that it wishes to ensure that the interests of shipping will not be unwittingly damaged.
Commenting on the outcome of last week’s meeting of the International Maritime Organization (IMO) Marine Environment Protection Committee (MEPC), the International Chamber of Shipping (ICS) – which represents the world’s national shipowners’ associations – says it is pleased with the progress made by IMO Member States on a number of critical environmental regulatory issues that will have a profound impact on the future structure of the global shipping industry.
Green House Gas Reduction Strategy
ICS says that IMO has made a good start on the development of a CO2 reduction strategy which it is confident will match the ambition of the Paris Agreement on climate change, and that significant progress was made on the general outline of an initial strategy for adoption in 2018.
ICS Director of Policy, Simon Bennett, said “Though no detailed decisions have yet been taken by IMO, the industry’s specific proposals have been well received by a number of governments among both developed and developing nations, and there is generally willingness on all sides to give these further consideration at the next IMO working group on the strategy in October.”
Government Ministers, Deputy Ministers, Director Generals and Permanent Representatives from the world’s leading maritime nations, including many crew supply countries, joined leading international judges, barristers, prosecutors and seafarer associations at the event to discuss the key issue of Guidelines on fair treatment of seafarers in the event of a maritime accident and explore ways these Guidelines could be implemented into national legislation.
The second edition of The Guidelines on Cyber Security Onboard Ships has been released. The latest practical advice has been compiled by the joint industry group, which is led by BIMCO and now includes new members OCIMF and IUMI, as well as the original contributors CLIA, ICS, INTERCARGO and INTERTANKO.
The second edition includes information on insurance issues and how to effectively segregate networks, as well as new practical advice on managing the ship to shore interface, and how to handle cyber security during port calls and when communicating with the shore side.
The chapters on ‘contingency planning’ and ‘responding to and recovering from cyber incidents’ have been rewritten to reflect the fact that the guidelines are aimed specifically at ships and the remote conditions prevailing if a ship’s defences have been breached.
The Guidelines on Cyber Security Onboard Ships have also been aligned with the recommendations given in the International Maritime Organization’s (IMO) Guidelines on cyber risk management which were adopted in June 2017.
Four major international trade associations – BIMCO, INTERCARGO, International Chamber of Shipping (ICS) and INTERTANKO – have made a joint proposal to the UN International Maritime Organization (IMO) concerning ambitious CO2 reductions by the international shipping sector, which is responsible for transporting about 90% of global trade and 2.2% of the world’s annual man-made CO2 emissions.
The IMO Marine Environment Protection Committee will meet in London this July to begin the development of a strategy for the reduction of the sector’s CO2 emissions aligning the international shipping sector response to the 2015 Paris Agreement’s call for ambitious contributions to combat climate change. Read more
Lars Rhodin, Managing Director of The Swedish Club, announced three new appointments to the board during the Club’s 2017 AGM held in Gothenburg on Thursday 15 June – the 145th since The Swedish Club was established in 1872.
Representing a cross section of the shipping industry, the three new board members come from different sectors and different countries, but share their commitment to shipping and to the pursuit of excellence.
New to the board are: Mr Chen Wei, Cosco Shipping Lines, Shanghai; Mr Jude Correa, Seaspan Ship Management, Vancouver; and Mr Lu Jian, Winning Shipping, Singapore.
Lars Rhodin welcomed the new board members, saying: “The Swedish Club represents members across the globe in almost every sector of shipping. We are delighted to see these new faces on our board and welcome the talents they will bring.”
The global shipping industry – as represented by the International Chamber of Shipping (ICS) – has urged its global regulator, the International Maritime Organization (IMO), to back a carefully crafted proposal, from a broad coalition of governments, concerning the implementation dates for installing complicated new ballast water treatment systems.
“If this pragmatic proposal is agreed, this would allow shipping companies to identify and invest in far more robust technology to the benefit of the marine environment” said ICS Secretary General, Peter Hinchliffe.
ICS says that this IMO decision on dates, to be taken by a meeting of the Marine Environment Protection Committee during the first week of July – just two months before the entry into force of the IMO Ballast Water Management (BWM) Convention on 8 September 2017 – will be critical, having significant implications for around 40,000 existing ships.
The high level United Nations Ocean Conference (5-9 June), organised by the UN General Assembly, opens today in New York.
On Tuesday 6 June, the International Chamber of Shipping (ICS) will explain that the global shipping industry is fully committed to the UN Sustainable Development Goal for the protection of the Ocean.
ICS says that the decision by President Trump to withdraw the U.S. from the Paris Agreement on climate change will have no impact on the shipping industry’s strong commitment to reducing its CO2 emissions.
Speaking at a session on the prevention of ocean acidification, ICS will present some ambitious ‘aspirational objectives’ on CO2 reduction which the industry – responsible for moving about 90% of global trade – wants its regulator to adopt on behalf of the international shipping sector, in the same way that governments under the Paris Agreement, have adopted CO2 reduction commitments on behalf of their national economies. Read more