Ender Hypersonic March 27, 2024 Author Share March 27, 2024 On 3/27/2024 at 5:33 AM, Macrosszero said: May not be the captain, as there were reportedly two harbour pilots on board. They are locals who are familiar with the waters around their harbour and would pilot large vessels into open waters. However, if claims of mechanical failure are true, the focus will fall onto the maintenance of the ship…… Expand Scarly engineers and maintenance crew also kenna, coz got power failure. ↡ Advertisement Link to post Share on other sites More sharing options...
Shibadog Turbocharged March 27, 2024 Share March 27, 2024 On 3/27/2024 at 9:34 AM, Ender said: Scarly engineers and maintenance crew also kenna, coz got power failure. Expand they'd definitely go thru the entire maintenance history and chief engineer logs, see if any corners were cut Link to post Share on other sites More sharing options...
Shibadog Turbocharged March 27, 2024 Share March 27, 2024 On 3/27/2024 at 9:29 AM, Voodooman said: I thought insurance will cover up to an amount and most ships are owned by single purpose shell company precisely to manage such catastrophic events, things like oil spills, dropping anchor and damaging a pipeline, etc. All pant dropping events. Expand https://www.standard-club.com/about/what-is-pi/ Protection and Indemnity (P&I) is a type of insurance that shipowners purchase to cover the potentially huge costs of any harm they accidentally cause to people, property and the environment. As liabilities for injuries, cargo loss, collisions and pollution can far exceed the value of a ship, shipowners have found since the 19th century that the most cost-effective way of buying P&I cover is through not-for-profit clubs of like-minded shipowners. Pooling claims Through these P&I clubs, shipowners pool their insurance premiums to pay claims on a mutual basis. The early clubs soon realised they could operate a similar pooling arrangement between them, reducing costs further. The Standard Club, formed in 1884, joined the first pooling agreement with five other British clubs in 1899. As the clubs grew in size, number and nationality, this eventually became the International Group of P&I Clubs. Today the 12 members of the International Group provide P&I cover to around 90% of the world’s ocean-going tonnage. The Group’s Pooling Agreement provides a mechanism for sharing all claims of $10m up to around $8bn, much of which is supported by reinsurance. 8 Link to post Share on other sites More sharing options...
Hubwee Supercharged March 27, 2024 Share March 27, 2024 USA got Titanic law , claim amount shall not exceed vessel value and cargo freight value ... no worry no worry for any P&I club or reinsurance companies ... small money small money 1 Link to post Share on other sites More sharing options...
Hyde333 3rd Gear March 27, 2024 Share March 27, 2024 Insurance will come under Hull & Machinery Insurance which insures/protects a shipowner’s vessel as its main asset. P&I will cover third party liabilities excluding the shipowner's asset, i.e. the vessel. 7 Link to post Share on other sites More sharing options...
Datsun366 Turbocharged March 27, 2024 Share March 27, 2024 (edited) Port anchor was dragging...shows efforts underway to correct kayu situation. Bad series of choices. Its not only this vessel niah. Who know comm shipping raise hand. ✋️ Tip top maintenance can only be done with deep pockets such as RSN or SPcoastguard. Even then can still Courageously fail. Thing is must check got any mazeltov influence for a L'chaim. The crew jin cham liao. Hit ERP gantry somemore. Guess your prayers were answered. Thank you very much. Trump is not gonna be gentle. Chilli crab. Edited March 27, 2024 by Datsun366 Link to post Share on other sites More sharing options...
Datsun366 Turbocharged March 27, 2024 Share March 27, 2024 (edited) On 3/27/2024 at 9:50 AM, Shibadog said: they'd definitely go thru the entire maintenance history and chief engineer logs, see if any corners were cut Expand You obviously dont know sailors. They tie knots. Neatly. Ask tch. What he can do to save money on his vessel. Sure got neber tip top one lah. Cheaper sailor, cheaper engine oil, cheaper cheaper quality. Why need for NOL. At least Maersk running the lease, not so bad, the danes can jiak. Lose the vikings as friends...maybe not. Yah, went through marina barrage on family bumboat before it was closed. Sampan place. Edited March 27, 2024 by Datsun366 Link to post Share on other sites More sharing options...
inlinesix Hypersonic March 27, 2024 Share March 27, 2024 On 3/27/2024 at 9:54 AM, Shibadog said: https://www.standard-club.com/about/what-is-pi/ Protection and Indemnity (P&I) is a type of insurance that shipowners purchase to cover the potentially huge costs of any harm they accidentally cause to people, property and the environment. As liabilities for injuries, cargo loss, collisions and pollution can far exceed the value of a ship, shipowners have found since the 19th century that the most cost-effective way of buying P&I cover is through not-for-profit clubs of like-minded shipowners. Pooling claims Through these P&I clubs, shipowners pool their insurance premiums to pay claims on a mutual basis. The early clubs soon realised they could operate a similar pooling arrangement between them, reducing costs further. The Standard Club, formed in 1884, joined the first pooling agreement with five other British clubs in 1899. As the clubs grew in size, number and nationality, this eventually became the International Group of P&I Clubs. Today the 12 members of the International Group provide P&I cover to around 90% of the world’s ocean-going tonnage. The Group’s Pooling Agreement provides a mechanism for sharing all claims of $10m up to around $8bn, much of which is supported by reinsurance. Expand https://www.insurancebusinessmag.com/us/news/marine/major-reinsurers-and-pandi-club-on-hook-for-baltimore-bridge-disaster-482812.aspxMajor (re)insurers and P&I club on hook for Baltimore bridge disaster Collapse expected to drive "one of the largest claims" ever for marine market Insurer: Britannia Lead RI: AXA XL 1 1 Link to post Share on other sites More sharing options...
Beanoyip Turbocharged March 27, 2024 Share March 27, 2024 Whole ship no backup power to power essential systems? 1 Link to post Share on other sites More sharing options...
Vratenza Supersonic March 28, 2024 Share March 28, 2024 On 3/27/2024 at 11:50 PM, Beanoyip said: Whole ship no backup power to power essential systems? Expand yeah.....that also begs the question....how assured are we that there is no repeat of the Baltimore Bridge incident with the hundred of thousands of mega ships crossing the globe through narrow manmade structures eg. the Suez channel? Link to post Share on other sites More sharing options...
inlinesix Hypersonic March 28, 2024 Share March 28, 2024 (edited) On 3/27/2024 at 11:50 PM, Beanoyip said: Whole ship no backup power to power essential systems? Expand I don’t think ship got backup propulsion. Edited March 28, 2024 by inlinesix Link to post Share on other sites More sharing options...
Playtime Twincharged March 28, 2024 Share March 28, 2024 On 3/27/2024 at 12:25 PM, inlinesix said: https://www.insurancebusinessmag.com/us/news/marine/major-reinsurers-and-pandi-club-on-hook-for-baltimore-bridge-disaster-482812.aspxMajor (re)insurers and P&I club on hook for Baltimore bridge disaster Collapse expected to drive "one of the largest claims" ever for marine market Insurer: Britannia Lead RI: AXA XL Expand Lucky not NTUC 🤣🤣🤣🤣 Else fair price will become high price. 3 Link to post Share on other sites More sharing options...
inlinesix Hypersonic March 28, 2024 Share March 28, 2024 On 3/28/2024 at 12:28 AM, Vratenza said: yeah.....that also begs the question....how assured are we that there is no repeat of the Baltimore Bridge incident with the hundred of thousands of mega ships crossing the globe through narrow manmade structures eg. the Suez channel? Expand Rem Evergreen ship stuck in Suez Canal Link to post Share on other sites More sharing options...
inlinesix Hypersonic March 28, 2024 Share March 28, 2024 On 3/28/2024 at 1:16 AM, Playtime said: Lucky not NTUC 🤣🤣🤣🤣 Else fair price will become high price. Expand They don’t have the capital to underwrite these policy. It could be US$100m per layer for XOL policy. 1 Link to post Share on other sites More sharing options...
Vratenza Supersonic March 28, 2024 Share March 28, 2024 On 3/28/2024 at 1:16 AM, Playtime said: Lucky not NTUC 🤣🤣🤣🤣 Else fair price will become high price. Expand from what I read about insurance and indemnity structure....the premium for all shippers effectively just went up multifold in the next renewal.... insurance will never lose money with underwriting. as country that import almost everything and a major shipping port, we are not likely to siam the fallout. 2 Link to post Share on other sites More sharing options...
Maxus-MIFA9 Supersonic March 28, 2024 Share March 28, 2024 (edited) On 3/27/2024 at 11:50 PM, Beanoyip said: Whole ship no backup power to power essential systems? Expand Backup batteries sold in 'black market' If our Northern neighbour can sell fighter plane engines, nothing amused me nowadays. Edited March 28, 2024 by Picnic06-Biante15 Link to post Share on other sites More sharing options...
Hyde333 3rd Gear March 28, 2024 Share March 28, 2024 On 3/28/2024 at 1:15 AM, inlinesix said: I don’t think ship got backup propulsion. Expand Being a container vessel, she has got 5 x 850KV auxiliary engines (generators). It's really strange that there will be a total blackout as she still has not commenced her sea passage and she should still have 2 generators running when she is still within the port vicinity. 3 Link to post Share on other sites More sharing options...
inlinesix Hypersonic March 28, 2024 Share March 28, 2024 On 3/28/2024 at 1:25 AM, Vratenza said: from what I read about insurance and indemnity structure....the premium for all shippers effectively just went up multifold in the next renewal.... insurance will never lose money with underwriting. as country that import almost everything and a major shipping port, we are not likely to siam the fallout. Expand $4b will be split globally. As I said earlier, it will be another round of global inflation. ↡ Advertisement Link to post Share on other sites More sharing options...
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