Month: May 2020

Indian Register of Shipping (IRClass) overcomes challenges from global pandemic to launch of ADVAITA, in China

Phil Page

Advaita, a dedicated cement carrier under construction at Penglai Zhongbai Jinglu Ship Industry Co., Ltd, China was successfully floated out on 30th March 2020. The vessel is being built under classification of Indian Register of Shipping (IRClass). This event is exceptionally significant as many constraints were faced prior to the successful launch, in light of the COVID-19 global pandemic.

IRClass surveyors braved the constantly changing scenario of both global and local restrictions and immense challenges including movement of manpower, to ensure the float happened as scheduled. Advaita, is approx.160m long, 22200 dwt, dedicated cement carrier  and is designed  to comply to all  the latest IMO conventions and codes like SOLAS, MARPOL, Loadline etc for worldwide operations.

Mr. P K Mishra, Head (Operations) of IRClass commented: ‘I’m glad we were able to put into action and demonstrate our ability to adapt and respond quickly to the changing environment. This is a true test of IRClass’ competence and I am extremely proud of our team for putting in the tremendous effort in the face of these challenges and continuing to soldier on even in such exceptional circumstances’.

‘The safety and well-being of IRClass’ surveyors is the top priority for us and all safety measures and precautions are in place for them to carry out their roles. IRClass remains truly committed to its members to support their business needs and will continue monitoring the changing circumstances to ensure that their needs are met’, he further added.

 

BIMCO, Institute of Chartered Shipbrokers and Videotel partner in unprecedented online education collaboration

Phil Page

BIMCO, Institute of Chartered Shipbrokers and Ocean Technologies Group subsidiary Videotel have partnered to create a high-quality, accessible educational resource to help maritime students across the globe to continue their studies remotely during the coronavirus pandemic

 

BIMCO, the Institute of Chartered Shipbrokers and Ocean Technologies Group maritime eLearning subsidiary Videotel have joined forces to provide access to a wealth of self-study material via the institute’s learning management system. The ICS Online Academy is free for all registered students until the end of July 2020 and will enable them to use eLearning material jointly produced by use BIMCO and Videotel in preparation for Institute exams by giving them greater access to quality education and maritime resources.

“ICS Online Academy is a really unique project which has allowed BIMCO and Videotel to collaborate with the Institute for the benefit of the maritime community, especially students who are struggling to stay on track with their learning during the current crisis. The combined technical, educational and subject-specialist skills that have gone into building the Academy really demonstrates the dedication to quality of learning rather than a purely commercial focus,” said Julie Lithgow, Director of the Institute of Chartered Shipbrokers.

Angus Frew, BIMCO Secretary General & CEO said, “BIMCO is very happy to donate this material. In the hands of Institute of Chartered Shipbrokers, it will be put to good use and hopefully bring a lot of new people into the industry.”

The Academy was soft-launched earlier this year and has already been tested by over 300 students from locations as varied as Lagos, Kenya, Singapore, Tanzania, the UK and Canada. The Institute of Chartered Shipbrokers made the decision to bring forward the scheduled launch of the project to assist students suffering as a result of the restrictions imposed by the Coronavirus.

“As a global learning and operational technology company, Ocean Technologies Group is driven to help to make the industry safer, stronger and able to excel. Partnering with BIMCO and the Institute for Chartered Shipbrokers for this new initiative means that students in developing countries will have access to the same high-quality resources as they would find in well-established maritime learning centres and can continue their studies and training during the coronavirus pandemic,” said  Manish Singh, Chief Executive Officer at Ocean Technologies Group.

 

The ICS Online Academy can be accessed via computer using the following link https://icsonline.academy/ or using the free Moodle app for both iOS and Android. The learning platform is specifically designed to support learners in developing countries. Users in locations with poor or unstable connectivity are able to download courses, work offline and submit their work when reconnected.

 

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2020 Financial Statements – Britannia declares another strong set of results

Phil Page

Highlights

  •  Satisfactory year with an underwriting surplus of USD29.3m
  • Strong investment return (7%) yielding USD61.9m
  • Increase in total capital resources net of USD25m capital distribution
  • Steady tonnage growth during the year and a strong 2020/21 renewal
  • The Association is well placed to meet the financial and operational challenges of the COVID-19 pandemic

 

Financial overview

 After a third consecutive renewal with a zero general increase, total calls and premiums for 2019/20 were down marginally on the prior year.  However, lower claims incurred in the financial year resulted in a satisfactory underwriting surplus of USD29.3m and a net loss ratio of 79.9% (2018/19 – 83.8%).  The well diversified investment portfolio produced a strong return of 7% overall, with equities being the strongest performer at 16.5%.  All asset classes produced a positive result and the overall investment gain was USD61.9m, nearly twice the long-term target.

Capital resources grew by USD31.4m, after taking account of the USD25m capital distribution made to mutual Members in the year and remain above the economic capital target set by the Board.

In the period immediately after the year end, investment markets were impacted by the uncertainty caused by the COVID-19 pandemic and much of the investment gain made during the year was reversed.  However, the Association’s strong financial position leaves it well placed to face the challenges posed by the uncertain global economic conditions likely to be experienced in the months and years ahead.

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Thome Group’s Successful Remote Audits with DNV GL

Phil Page

The Thome Group has successfully undergone a series of remote audits with DNV GL in various locations due to the widespread lockdown restrictions across the globe.

Thome Mumbai office’s annual ISO 9001:2015 audit was performed online using video conferencing software which enabled document sharing and discussions to take place to verify that all requirements had been met. This was the first remote inspection that Thome had carried out and, because of its successful conclusion, it encouraged the Group to use the digital option for other audits as well.

So, when the annual Document of Compliance (DOC) surveys were due for Thome Ship Management, Thome Shipping and Thome Offshore Management, the remote option was the obvious choice.

DNV GL in Singapore co-ordinated the audits with relevant Thome personnel in each of the aforementioned companies and the Hong Kong, Liberia and Marshall Islands Flags also had representatives present to remotely witness the audit. This is currently the largest remote annual DOC audit performed by DNV GL´s Singapore office.

Taking the lessons learnt from the above audits, Thome decided to develop its own remote vessel internal audit procedures to ensure its managed vessels were not only compliant under ISM Ch.12.1 requirements, but also, to ensure that its management systems were verified to be effectively implemented, despite the COVID-19 restrictions.

Thanks to the efforts of Thome’s Quality Assurance, Marine & Safety and IT departments along with co-operation from one of Thome’s managed vessels, methods such as teleconferencing, screen sharing to demonstrate usage of onboard systems and documents and sharing of photos and videos to verify the physical condition onboard, were all employed to complete a successful audit which has meant that remote internal auditing is now being rolled out to the entire fleet.

“I am really pleased how our teams both onboard and in our offices, have worked with our class and flag partners to find ways to share information remotely to allow surveys and audits to take place during the lockdown restrictions. All parties have taken a very pragmatic and practical approach to satisfy regulatory requirements using digital technology. I think that once lockdown restrictions are eased, we may see the continuation of remote audits and inspections as they are proving to be an efficient use of everyone’s time and energy which is advantageous for everyone concerned,” said Claes Eek Thorstensen, Thome Group’s President and CCO.

Ocean Technologies Group Appoints Pioneering Chief HR Officer

Phil Page

Global learning and operational technology innovator, Ocean Technologies Group, has appointed Susan Steele as Chief Human Resources Officer.

Steele, with over 25 years’ experience in HR, is known for her pioneering use of artificial intelligence and automation to develop employees and improve operational efficiency.

“The digital transformation taking place in the shipping industry as well as the industry’s increasingly complex regulatory framework create an urgency for us and for our clients” said Ocean Technologies Group CEO, Manish Singh. “Susan’s expertise will be invaluable as we attract, develop and retain colleagues around the globe.”

Prior to joining Ocean Technologies Group, Steele held HR leadership roles at Cision, IBM, WPP and Deloitte.

“Throughout my career, I have been drawn to Learning and Technology innovators” explained Steele.  “Ocean Technologies Group is poised to disrupt the global shipping market by harnessing the collective Learning expertise of Seagull, Videotel and MTS and the Technology innovation of Tero Marine and COEX. I am excited by the opportunity to create the employee-centric environment, experiences and culture critical to accelerating competitive advantage for our clients.”

Steele will be based in Ocean Technologies Group’s London office.

KVH Adds Mediterranean Region to KVH Elite Unlimited VSAT Streaming Service for Yachts

Phil Page

Following the launch of KVH Elite in the Caribbean, KVH will offer the service to yachts in the Mediterranean beginning on June 1

MIDDLETOWN, RI – April 30, 2020 – KVH Industries, Inc., (Nasdaq: KVHI), announced today that beginning June 1, it will add the Mediterranean region, a premier superyacht destination, to its KVH Elite™ service for unlimited HD-quality streaming onboard yachts. The dedicated service, which includes no overages or data limits, was initially launched last October in the Caribbean, where it was well-received by both private and charter yachts.

KVH will continue to offer KVH Elite in the Caribbean—including Florida, the Caribbean, and the islands of the eastern Caribbean—in addition to beginning service in the Mediterranean, including the Adriatic Sea and the Black Sea. The Mediterranean yachting season begins in June and has historically attracted superyachts not only from Europe but also from the Caribbean, although global travel restrictions may prompt many yachts currently in the Caribbean to remain there for the balance of the year.

“Yachting is a source of enjoyment for yacht owners and charter guests, and they want to be able to stream movies and other entertainment content just like at home,” says Mark Woodhead, KVH executive vice president for mobile connectivity. “The yachting market, especially during this unprecedented time, is seeing an incredible demand for VSAT connectivity. KVH Elite unlimited streaming service is one more example of how KVH’s premium VSAT connectivity can enhance the yachting experience.”

KVH Elite enables people onboard to use their favorite apps for streaming popular HD movie and TV content, music, and more, on an unlimited basis with no overages or data usage limits. The streaming service uses KVH’s award-winning VSAT antenna systems— the 1 meter diameter TracPhone® V11-HTS with download speeds as fast as 20 Mbps, and the 60 cm diameter TracPhone V7-HTS with download speeds as fast as 10 Mbps—and is designed for ease of use, with simple over-the-air activation that does not require any hardware changes to the antenna system or its belowdecks control unit. Yachts currently using the TracPhone V11-HTS or V7-HTS are KVH Elite-ready for activation.
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