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The Francis Scott Key Bridge in Baltimore Collapse


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  On 3/28/2024 at 2:10 AM, Playtime said:

im guessing as a vessel that size, there must be a set of safety procedures to check and follow, it could take a while to switch power and restart the engine?🤔

 

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There would be survey on seaworthiness done prior departing from port. Harbour and insurance requirements. 

Ship should still be under harbour traffic control. Not sure how far away the bridge was from the port. Surprised there wasn't any assisting tugs within sight of the cargo ship. Certain ports costs of assisting tug are factored into the harbour fees. In Singapore the costs of assisting tugs are borne by the charterer/shipping company. 

 

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  On 3/28/2024 at 8:17 AM, ToyotaShuttle said:

tiagong this "local expenditure" requirement is a scam.

e.g. a trading company can inflate it by "sleeving" their charting requirements thru an sg company. Like if you wanna charter a ship from some greeks, you ask your friendly sg company friend to do it, then you charter from your sg company friend for a small markup. tada, local spending.

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I want start the $2 middle man pte ltd! Got lobang? 😆

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  On 3/29/2024 at 10:36 PM, yishunite said:

Insurance cos already making record profits. What they are looking for is more excuses to hike rates and suckers to believe their bottom line really got hit so bad. $4b is drop in the ocean (lol) for global shipping, but chance to hike rates by far more 

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What you are saying could be true for larger insurers. A lot of these marine insurers are niche and monoline. They could suffer record losses in 2024.

Record profits could be from underwriting profit, investment income or both for large insurance groups.

Large Insurer don’t allow cross subsidy between different line of business.

 

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