THE splitting in two of the 8,110-TEU, 2008-built MOL Comfort at sea in June and the mystery surrounding the accident, despite talk of structural failure, is expected to impact marine insurance providers.
The fallout from the sinking of the ship has been compounded by a recent spate of major incidents involving containerships that have sparked fears of more claims to come, with marine property insurers and the P&I clubs feeling the pinch, reports the UK's Motor Ship.
News followed in July of a fire on board the 1,740-TEU Hansa Brandenburg in the Indian Ocean. The German-owned, 2003-built geared vessel was en route from Singapore to Durban. Salvors were successful in controlling the fire and the vessel was towed to Mauritius where unloading of undamaged boxes began.
Bad news continued with the flooding of the engine-room of the 15,500-TEU Emma Maersk during a Suez Canal transit after the failure of stern thruster propeller blades cracked steelwork. Human error by the crew has been ruled out.
Cargo insurers are expected to suffer the most. The MOL Comfort incident will cost Japanese hull underwriters up to US$80 million to $83 million with some reinsurance in the London market. However, the much heavier burden will fall on cargo underwriters, who may have to pay more than $100 million for the reported 4,500 boxes on board.
In response to these incidents the International Association of Classification Societies (IACS) has established a working group to study the safety of the new generation of mega box ships. IACS chairman Roberto Cazzulo said the industry needed to take a holistic view of post-panamax safety.
Japanese shipping giant MOL was quick to take remedial measures to strengthen the hulls of the MOL Comfort's sister ships before they returned to service.
An investigation was immediately launched into the MOL Comfort disaster by the vessel owner, the builder (MHI) and ClassNK, and preliminary findings by the classification society are expected this autumn. It is reported, 14 vessels were built to the MOL Comfort's design.
Experts suspect the main causes for incidents involving these and other vessel types is machinery damage and failure. For example, in one seven-day period in July there were 17 such incidents according to Lloyd's List Intelligence, followed by a further 14 in the last week of July.
The ship machinery industry sat up when in August it was announced that Port State Control authorities under the Paris MoU and the Tokyo MoU were commencing an inquiry targeted at propulsion machinery.
The 45 port states under both MoUs want to ensure that vessels comply with the relevant chapter in the SOLAS Convention relating to the upkeep of marine engines, propulsion systems and auxiliary equipment.
In a circular to its members, the Steamship Mutual P&I Club said inspectors would concentrate on applicable documents and ascertain whether vessels propulsion and auxiliary machinery are safe.
Crew training in safety and emergency procedures will also come under scrutiny. Inspections may also focus on boilers, boiler feed systems, emergency lighting, bilge pump arrangement, ballast pumps and emergency fuel stops, the report said.
WORLD SHIPPING
02 October 2013 - 22:14
Insurers brace for split-in-two MOL Comfort claims among others
THE splitting in two of the 8,110-TEU, 2008-built MOL Comfort at sea in June and the mystery surrounding the accident, despite talk of structural failure,
WORLD SHIPPING
02 October 2013 - 22:14
Insurers brace for split-in-two MOL Comfort claims among others
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