BOW WAVE 111

Back at Work Edition

news and views on trade, insurance and risk

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(c)2002 WavyLine.com	Issue No 111 07 Jan 02
Published free of charge to Readers
Editor: Sam Ignarski
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In this issue:

1. Welcome
2. JLT End of Year Review
3. Technology and Humanity
4. Chinese Maritime Decisions
5. USCG's New Normalcy
6. And Finally...

1. Welcome

New Readers this week include:

Clive Tomlinson of Bolero
Jim Page at Terminal Operators Greystones in South Africa Kuehne&Nagel China Manager Holger Beyer
Broker Reginald Peacock at JLT Asia
Trevor Jones of ISS
Anil Kumar of the Titan Group in Malaysia
Christine Stokes of Cargosmart.com

A number of Readers have sent in warnings about the sulfnbk virus which is in fact a hoax on the vigilant. Read about it at:

http://www.symantec.com/avcenter/venc/data/sulfnbk.exe.warning.html/

A long drawn out holiday season comes to an end here in London as we look forward to the culmination of many plans.

We hope this week's mixed bag will hit the spot.

Enjoy

2. JLT End of Year Review

A rather good end of year review of the international insurance market was published just before Christmas by the brokers Jardine Lloyd Thompson. The 42 page report takes an upbeat line on the market response and lists in detail the losses and capitalisation of the various players in the light of the events of September 11:

"We currently estimate that between US$ 25bn and US$30 bn of new capital will flow into the global Insurance Market over the next couple of months. It is estimated that more than half of the total capital will be used for start-up ventures as Investors will be reluctant to back existing firms until they can fully demonstrate the extent of their liabilities to the US Terrorism attacks.

Nevertheless, existing participants in the Insurance Market have already raised more than US$15bn in new capacity.

Several start-up operations have already been launched and even more are expected to be announced before the end of the year, as new Investors seek to exploit the opportunities presented by higher rates and the scramble for insurance coverage before current policies expire.

http://www.jltgroup.com/

3. Technology and Humanity

Our nomination for the season's most human story of technology comes courtesy of Digital Ship in respect of an interesting new service offered by Missions to Seaman. When we wince at the thought of all the hard faces involved in this area, we should also remember that the most successful uses of technology push at the open door of deep human needs:

"The Mission to Seafarers reports that a Ukrainian seafarer saw his two month old son live for the first time, over a webcam. He was using a recently installed videoconferencing facility in an internet café at the Mission to Seafarers in Seal Sands, North Tees, UK.

Staff and fellow seafarers were in tears as they watched the father smiling and waving at his son, the Mission reports. "He was crying with joy. It was just lovely," comments port chaplain Ken Cornforth."

http://www.missiontoseafarers.com/

If we could change one thing about the way the wired maritime world is reported, it would be to lower the technology and to raise the human dimension. The best zine to read on the story of maritime technology is edited by Karl Jeffrey and Yana Lenzner:

http://www.thedigitalship.com/

4. Chinese Maritime Law Decisions

Charles Allen of Simmons & Simmons Hong Kong mentions this new web site carrying information on civil litigation in the PRC. Eventually it is intended to give "hearing dates, verdicts and case precedents in maritime and commercial lawsuits involving foreign companies" (this is according to an article in the South China Morning Post of 03JAN02) in English and Chinese. Also, "court notices, laws and regulations on the mainland".

Not too much to see at the moment but here's hoping for fast progress.

http://www.ccmt.org.cn/english/index.htm#/

5. USCG's New Normalcy

The tireless Dennis Bryant's Maritime Items E-zine points us in the direction of the US Coast Guard's site.

http://www.hklaw.com/maritimedev.asp/

It is there we read of what the CG's Commandant calls the New Normalcy. Admiral James Loy says:

"The new normalcy for the Coast Guard will mean a higher tempo than existed on September 10th and somewhat lower than the tempo we have known since September 11".

According to Mr Bryant,

"The U.S. Coast Guard continues to increase its emphasis on its reinvigorated port security mission and its mission regarding homeland security. The Assistant Commandant for Marine Safety and Environmental Protection has established a Port Security Directorate to focus efforts in this regard. The Coast Guard has also established a new Web site for Homeland Security consolidating in one place various documents related thereto. .

See the site at:

http://www.uscg.mil/overview/Homeland%20Security2.htm/

6. And Finally...

Reader Jeff Blum has just received the following offer which is either a spoof to extract USD 30 from
unwitting punters or, as we suspect, it is a genuinely well-meant publication containing a large number of delightful mistranslations which let them down...

Dear sirs!

Let to present you our Review about the Siberian region of Russia: an industry, culture, scientific, exhibition and fair, potential consumer market.
The Center of Region is the city Novosibirsk,
Novosibirsk is 3(third) city of Russia, it is big industrial, scientific, transport point of Russia. The geographic center of Russia is in 100 kilometers from Novosibirsk. The Siberian Branch of the Russian Academy of Sciences (SB RAS) is a regional association of research and designing institutions, pilot and medium-scale production of the Russian Academy of Sciences as well as the services maintaining the functioning of the infrastructure of Siberian research centers located in seven regions, 2 territories and four republics (i.e. the general territory of about 10 million square kilometers).
Using this Review you can find the partners in an orb of culture, science, exhibition business, tourism, can evaluate a commodity market of production.

- The Review consists of such sections, as:

Services,
the Finance. The credit. Audit,
Culture, strain-relief crystallization and entertainments, Educational institutions. Science,
Health,
Shop's,
a Feed,
Policy and authority,
Religion,
an Agriculture,
Sports ,
Building. An industry,
the Transport, transportation
& and many other things.

- The Review contains the information about more then 20 000 firms.
- The price of Review: 30 US dollars.

- The format Review: html.

- The size of Review in the packed ZIP-file: ~1.5 Mbyte.
Method of delivery: on e-mail, or by post mail.
The payment is made on our account:
Beneficiary: Quintol Assosiaties S.A.
Beneficiary bank: SAMPO BANK, SWIFT: FORE EE 2X
Account N: 333021880002
Bank address: NARVA MNT 11 15015 TALLIN ESTONIA
Covering: acc. 608209899 with the Republic National Bank of New York N.Y., SWIFT: BLIC US 33.

- Conditions of acquisition:

You transfer 30 USD to the our account.
In the commentings of payment write, that is it "a payment for the Review about the Siberian region, need to deliver" & and write your address for delivery the Review. In current 14-20 days the catalogue will be deported to you.

It is the maiden Review in a series a Potentials of the Siberian region, the extension of the Reviews on such cities of Siberia as Omsk (oil processing), Krasnoyarsk (timber, aluminium), Irkutsk (timber) is planned.

With the best regards.

P.S.
Our Review does not contain viruses

P.P.S.
We bring to you the apologies, if have abstracted You from business by the useless message. Please, forgive us.

BOW WAVE is published each week to around 6600 readers in the transport,insurance, shipping, trade and finance industries.

Thanks for reading BOW WAVE