Ports and terminals are increasingly being drawn into the purview of private maritime security companies, as such contractors seek to strengthen their links with the insurance market.
All the leading ports groups seem to have got the message that they need to manage energy consumption on sustainability principles, but action is still in its infancy.
At first glance, the prospects of keeping their insurance spend at current levels might seem slim for executives in the ports and terminals industry; the recent series of high-profile natural catastrophes could encourage underwriters to seek dearer premiums at renewals.
Eyes are looking north to a vast region of lucrative international trade promise – a region served rudimentarily for the most part by seaports. The superpowers are becoming ever keener to assert their strategic interests in the warming Arctic.
A heavy soup of responsibilities and liabilities mixes into today''s vast port projects, insurance experts have warned.
RaetsMarine talks to James Brewer following the company''s takeover by Lloyd''s group Amlin
It will take a long time for the tailwinds of post-tropical cyclone (that is what it was, not a hurricane) Sandy to die down.
While cost-cutting at ports in much of the world is leading to fears that risk management standards will fall, there appears to be brighter hope on that front in parts of Africa.
When it comes to disputes, winning a case is just the start of the battle. In the maritime world, very often the ruling, or award in the case of arbitration, has to be enforced in a different jurisdiction, and that is where local legal knowledge – and enormous reserves of ...
"We never expected the Hudson River to come up this far..." That has been the lament of hundreds of residents and business owners on the east coast of the US, struck by the chaos of cyclone Sandy.
A nightmare scenario came true for port operators and insurers alike four years ago, in the form of a major accident in the UK involving both merchandised and land-based cranes.
Hurricane Ernesto, Typhoon Haikui, Typhoon Damrey, Typhoon Saola. That grim quartet struck in the space of just a few days of August, bringing destruction to parts of Central America in the first instance, and heavy flooding in the Far East in the rest. Earlier in the year, tornadoes brought havoc ...
How fares the London marine insurance market? Generally as active and influential as ever, it seems, although it is not as ‘London’ as it used to be.
“Reaching the world from northeast China: Port of Dandong,” booms a voice from the television in my hotel room in Shanghai, where I have arrived to spend time with people from the city’s Maritime University, one of the shipping world’s great educational institutions.
The earth is certainly moving under the insurance market, as a result of the natural catastrophes of the past year and a half, and the port industry will suffer as a result.