MARINERS UPDATE’s Post

Intercargo Bulk Carrier Casualty Report 2014 - 2023 shows improved safety and declining ship losses >> https://lnkd.in/dWDr_6rr #maritime #shipping #vessels #shipsandshipping #ships

The recent fire on a container cargo merchant vessel off the south west coast of Goa last week has prompted many importers and exporters to reevaluate their current insurance policies. There can sometimes be a misconception that insurance for your goods will be 100% covered by shipping companies in the unlikely event of an insurance claim however this is not correct, there is a limited liability meaning your goods are never 100% covered. Therefore, it is always good to have your own marine insurance for companies moving goods throughout the globe. #marineinsurance #freightforwarding #customsbrokers Please reach out with any questions related to marine insurance. See below video for more information of the recent fire. https://lnkd.in/gx4VJndT

USCG - 2023 Flagstate Annual Report USCG has released the 2023 Flag State Control Domestic Annual Report. This report highlights U.S. domestic fleet deficiencies, inspection, and marine casualty statistics. The report presents information reflecting the U.S. Flag fleet including barges, cargo vessels, passenger vessels, vessels operating on the Outer Continental Shelf, research and school ships, fishing vessels, and towing vessels. A few key findings in the report are below: a-In 2023, the U.S. Flag fleet contained 17,577 vessels subject to inspection, with Coast Guard Marine Inspectors (MI) conducting 20,647 inspections. The number of inspections has continued to increase since 2020.  b-There were 1,821 reportable marine casualties reported in 2023 involving 2,146 inspected vessels. The number of reportable marine casualties was a slight decrease from 2022. c-In 2023, there were 38 Flag State detentions, a decrease of one from 2022. For vessels without an SMS, “30 – Ship Detained” is assigned when objective evidence shows that a serious substandard condition is not being proactively managed by the company, vessel owner, or operator. Meanwhile, the top five detention deficiencies are as follows: 1-Fire Safety, 2-Propulsion and Auxiliary Machinery, 3-Safety Management Systems, 4-Certificates and Documentation, and 5-Working and Living Conditions.

Indian Coast Guard Battles 🔥 Fire on Maersk-Chartered Ship The Indian Coast Guard (ICG) has been tirelessly working to extinguish a fire on the Maersk Frankfurt, a container ship that suffered an explosion on July 19th. Tragically, one crew member has lost their life. The ICG, with support from the shipowner, is tackling sporadic fires using helicopters and dry chemical powder. The cause of the fire is still under investigation. Shipping news with coverage of the fire on board the Maersk Frankfurt has been coming through thick and fast. According to the latest Maersk update, the shipowners have now declared GENERAL AVERAGE. Firefighting operations continue, with the vessel reportedly in a stable condition. The Indian Coast Guard reported yesterday that sporadic fires in smouldering containers were being extinguished with dry chemical powder dropped from a helicopter. The vessel was on its maiden voyage when the fire broke out. If you'd like to learn how GENERAL AVERAGE can adversely affect your Shipments costs, please chat with one our freight experts who can assist to mitigate risk for your cargo journeys through Maritime Insurance. #MaritimeSafety #IndianCoastGuard #Maersk #ShippingNews #insurance

One Year After Galaxy Leader Hijacking: Maritime Industry Faces Unprecedented Crisis One year after the hijacking of the Galaxy Leader by Houthi forces, the maritime industry is still dealing with significant challenges. The crew of the Galaxy Leader remains in captivity, despite numerous appeals from international organizations for their release. The hijacking has highlighted the ongoing issue of maritime piracy, with over 120 similar incidents reported since then. The situation has had a profound impact on the global shipping industry, affecting everything from marine insurance to the safety of seafarers. https://hubs.la/Q02YYjr70

The Red Sea continues to be a dangerous place for those aboard maritime vessels. With maritime piracy at an all-time high, the crew members’ safety is left in a vulnerable position. At Tokio Marine HCC – Specialty Group, we recognize the importance of safety in a time of crisis and uncertainty, our Maritime Piracy insurance works to safeguard crewmembers from unexpected encounters they may face in the open seas. Cited   Learn more at: https://lnkd.in/g6qa5bvS

Horrible accident but again shows why companies need shipping insurance to protect their goods. #insureshield #UPSCAPITAL 9 hours ago an explosion occurred on the boxship YM Mobility at a container terminal in the Beilun Port area of Zhoushan Port. The cause of the accident was initially determined to be an explosion of a container on the ship, and there were no reports of casualties. According to timestamps from surveillance footage videos posted online, the explosion occurred around 1:46 pm on Friday. The video first showed a large amount of smoke coming from the ship followed by a huge blast which started a fire and scattered debris. A video from a much further distance showed massive clouds of smoke rising after the explosion. The vessel was reportedly berthed at the Ningbo Phase 3 Terminal. Some reports suggest that the cargo that exploded was glycerin. The Ningbo Maritime Search and Rescue Center has started an emergency plan and assigned patrol boats to the scene. Three fire tugboats and shore-based fire department forces were also deployed. The YM Mobility is a Liberia-flagged, 2011-built containership owned by Taiwanese carrier Yang Ming. It has a container capacity of 6,589 teu. https://lnkd.in/ga64ctwu [youtu.be]

Real events in real time. Being proactive will keep you out of the percentages below. General Supply Chain Disruptions: According to the Business Continuity Institute’s (BCI) Supply Chain Resilience Report, around 73% of organizations experienced at least one supply chain disruption in a given year. Cargo Theft: A report by BSI and TT Club indicates that approximately 25-30% of companies experience cargo theft within their supply chain annually. Financial Impact: The Accenture Strategy report on supply chain resilience found that supply chain disruptions can reduce a company's annual revenue by up to 3-4%.

Great summary of the current situation and the coverages