BOW WAVE 362

Bow Wave Issue 362--Here Goes Edition

news and views on trade, insurance and risk

Bow Wave homepage
Previous issue (361) / Current issue / Next issue (363)

Wavy Line	sam@wavyline.com
(c)2006 WavyLine.com	Issue No 362 30 Oct 06
Published free of charge to Readers
Editor: Sam Ignarski
Subscribe	Unsubscribe

In this issue:

1. Welcome
2. International Transport Solutions
3. RHA 2006 Security Seminar 07NOV06
4. Bahamas Port Authority
5. Small Craft Seminar
6. And Finally...

1. Welcome

Poem of the Week

Samurai Song

When I had no roof I made
Audacity my roof. When I had
No supper my eyes dined.

When I had no eyes I listened.
When I had no ears I thought.
When I had no thought I waited.

When I had no father I made
Care my father. When I had
No mother I embraced order.

When I had no friend I made
Quiet my friend. When I had no
Enemy I opposed my body.

When I had no temple I made
My voice my temple. I have
No priest, my tongue is my choir.

When I have no means fortune
Is my means. When I have
Nothing, death will be my fortune.

Need is my tactic, detachment
Is my strategy. When I had
No lover I courted my sleep.

Robert Pinsky, from Jersey Rain

New Readers this week include:-

Broker Jeremy Sykes of Marsh in New York
Casualty Analyst John Thorogood of Lloyd's Register-Fairplay Security Specialist Liam Morrissey of BGN Risk
Underwriter Charles Bragg of LIMIT
David Cunningham of Colemont Insurance Brokers
Simon Buchanan of HSBC

News of Readers

Peter Jones writing in the latest edition of the Forwarder E-News publication reports that, after a three-year battle that looked all but lost, BIFA has won an exemption for British freight forwarders from cumbersome new rules promulgated by the European Commission and intended to provide protection to the public in the sale of insurance. The real effect was to simply force many small to mid-sized forwarders to stop providing customers with insurance cover under a pre-existing open marine cargo insurance policy, to the detriment of both forwarders and their clients.

For the full article click here:

http://www.forwarderlaw.com/library/view.php?article_id=405

Readers Write

From Mr Julius Wilson:-

I recently read with interest an article on your website regarding Watkins Syndicates proposed entry into the Ports and Terminal market (Bow Wave Issue 261) and I would like to take the opportunity to clarify a few points.

The Watkins Syndicate expanded its Lloyds account into the marine and energy liability arena for the 2002 Lloyds year of account. Since that time we have looked at a broad spread of ports and terminals business - choosing to concentrate on liability coverage - and achieved some success in securing orders on profitable accounts, despite the competitive market. At present we do not write the property risks associated with the class but should this change we will be more than happy to let you know.

Many thanks for your interest in our syndicate and kind regards,

Julius Wilson
Liability Class Underwriter

julius.wilson@mrunderwriting.com

AfterOfficeHours News

The latest edition of the Maritime Advocate online (Issue 276) can be accessed by clicking on the link below.

http://afterofficehours.com/news.php

Readers who would like to subscribe to this highly readable fraternal publication--which is edited by Chris Hewer and published free to Readers--should send an e-mail to:-

contactus@afterofficehours.com

The Maritime Advocate online archive

The publishers are proposing to create an archive for the Maritime Advocate which will provide an opportunity for a number of firms to demonstrate their expertise to our readership.

In addition to the back editions of the Maritime Advocate itself, there will be two central aspects to the archive:

1. To provide regular case-law updates on transport and insurance law from their particular jurisdiction. It is expected that a wide range of jurisdictions will form part of the case-note database.

2. To provide an overview of the transport law in each jurisdiction.

An example of this overview which has already been prepared for India by BJ Macfarlane & Co can be supplied.

In New Zealand, the firm of Wilson Harle has now agreed to be the sponsors for the country summary.

Each jurisdiction will only be represented by two sponsoring law firms. One will provide the case law updates. The other will provide the country summary. If you or your firm is interested in supplying these materials please contact the publishers at:

contactus@afterofficehours.com

Note from the Editor

Item 2 refers to an exciting new venture, more of which anon.

TT Claims man Andrew Trasler who died recently (see Bow Wave Issue 358) also, for various reasons too complicated to mention, corresponded with Bow Wave under the pen name of X.S. Hencker (At one time in his career he worked for the firm of Schenker)

Andrew was a witness of events in New York on 911 and his writing skills were employed to great effect in his description of that grim day. The piece forms the content of the current edition (Issue 91) of TT Talk--an e-zine published by the Club.

To read the piece go to:-

http://www.ttclub.com/TTClub/ttclub.nsf/HTML/965F1FBB7293B33B8025720D00532A59

Enjoy!

2. International Transport Solutions

The following story by Jim Mulrenan appears in this week's Tradewinds:-

Insurer Widens Cover

British Marine is entering the intermodal and professional negligence sectors

A move widens into new areas of the marine insurance market is planned by British Marine following the recruitment of two prominent executives with extensive club experience.

The former insurance club is to diversify from its core business of providing hull and well as P&I cover for smaller vessels into the intermodal and professional negligence sectors.

British Marine has recruited Sam Ignarski, who spent many years running the Through Transport Mutual Insurance Association (TT Club) and Zareena Hussain from the International Transport Intermediaries Club (ITIC) to launch an International Transport Solutions initiative.

A key new product will be through transport cover for the many feeder container lines in the Middle and Far East whose vessels are already insured with British Marine.

Discussions are still underway about exactly how the International Transport Solutions will work but it might offer insurance on either British Marine paper or on behalf of its parent company, the big Australian QBE group.

British Marine managing director Robert Johnston says the move was a response to regular enquiries about the possibility of wider cover. "take the view that the industry we serve does not stop at the ship's rail. Our clients and the industry in general require insurance when they are performing other roles within the shipping and transport," added Johnston.

[The plan sees British Marine as ready] to cover the landside risks of shipping companies and to offer insurance to NVOCs [and cover for cargo handing facilities to follow].

Errors and omissions cover for shipmanager, shipbrokers and others exposed to professional negligence claims is also planned.

The move puts British Marine in competition with both the TT Club and the ITIC, two well established mutuals that are run by the Thomas Miller group.

British Marine, an old established hull and P&I Club that insures many thousands of smaller vessels, demutualised in 2000 and diversified into larger tonnage but this proved financially unsuccessful.

It has regained direction since Johnston, a former Steamship Mutual underwriter, was hired to get British Marine back on course, with the recovery endorsed by the QBE takeover and an "A" rating from Standard & Poor's.

After leaving the TT Club, Ignarski set up the Wavelength ports and terminal scheme for Charles Taylor, managers of the Standard Club, as well as becoming an internet entrepreneur with various ventures of his own.

3. RHA 2006 Security Seminar 07NOV06

Frank Heinrich-Jones writes:-

We would like to remind your Readers that the Road Haulage Association are holding their annual a one day Security Seminar and Security Exhibition focussing on Reducing Freight Crime, a problem that affects many in the industry and appears not to be abating. This leading event is being held on Tuesday 7 November 2006, at Towcester Race Course, Northamptonshire (off A43 / A5 near Silverstone)

http://www.towcester-racecourse.co.uk
We have secured a high-profile list of speakers including Assistant Chief Constable David Ainsworth, ACPO Lead on Vehicle Crime and chair of JAGOLT. ACC Ainsworth will open the Seminar and exhibition, followed by our keynote speaker, Vernon Coaker MP,Parliamentary Under Secretary (Policing, Security and Community Service), Home Office.
Jacqui Hames, will chair the sessions; she served with the Metropolitan Police and was part of the launch team for the UK’s first Crimestoppers unit.

Presentations include:

Truckpol - the latest Crime figures, trends and hot spots European Perspective - Eurowatch
Truckwatch Expansion - South Yorkshire
Launch of the Road Haulage Industry Minimum Security Standard - Steve Ellis, RHA.
Operation Grafton - Case Study
Insurance Fraud Bureau - Staged Accidents - John Beadle Thatcham New 5 Star Rating Scheme
Northamptonshire Police - update on issues in Northamptonshire. And more

This is the leading commercial road transport security event in the UK and should be of great interest to all RHA members and other transport companies, shippers / receivers, insurers, police and all involved in fighting road freight crime. Previous seminars have attracted large numbers of attendees and leading security equipment and service providers so early registration is recommended.

To register go to:-

http://www.rha.net.
There will also be an exhibition of leading security and tracking equipment suppliers with many well-established companies, helping you and the police to make it harder for the criminals to get away with vehicles and their loads.

The delegate fee is £120.00 plus VAT for RHA Members and £150.00 plus VAT for non- Members; this will include entry to the Seminar and Exhibition plus refreshments and lunch.

Contact Frank at:-

frankhj@btconnect.com

4. Bahamas Port Authority

We receive regular news from many Readers, not least about the Bahamas. The islands' affairs are reported in a well produced html e-zine called Grand Bahama Info and a good deal of unusual news there is about the Port Authority. Island life can be very intense.

Consider the statement reproduced by the current head of the Port Authority Hannes Babek:-

Friday, 20th October 2006--Since my appointment as Chairman of The Grand Bahama Port Authority on 1st June 2006, there have been allegations of a conflict of interest between my role as Chairman of the Port Authority and the business activities of H & F Babak Construction Company Limited.

Recently the contract executed between International Distributors of Grand Bahama Limited (Associated Grocers) and H & F Babak Construction has become the subject of a heated debate among certain members of the public, notwithstanding that is was being negotiated prior to my becoming Chairman of the Port Authority and notwithstanding that International Distributors has publicly confirmed that the only company in The Bahamas which has the technology and expertise to perform the contract is H & F Babak Construction.

As a result of these issues, and of my desire to serve in the best interest of the people of Grand Bahama, without being distracted by such allegations, I have come to the conclusion that H & F Babak Construction Company will not continue with the contract, and have therefore written to the attorneys for International Distributors of Grand Bahama Limited (Associated Grocers) to request that H & F Babak Construction be released from the contract with immediate effect. In this regard, I have also agreed to indemnify International Distributors of Grand Bahama Limited (Associated Grocers) for any loss suffered by them in releasing H & F Babak
Construction Company from the contract.

Furthermore, to avoid such allegations in the future, I have decided to sell all of my shares in H & F Babak Construction Company at a great personal loss to me. I am presently in negotiations with a reputable
Bahamian contractor for the sale of the Company
and expect to conclude these negotiations shortly.

I look forward to being able to focus on the development of business opportunities as Chairman of The Grand Bahama Port Authority for the benefit of the people of Grand Bahama.

And the Statement by Sir Jack Howard:-

Monday, 23rd October 2006-- As a result of the uncertainty which has been generated by various members of the public over the present and future operations of The Grand Bahama Port Authority, Limited, I find that I must now disclose to the public certain private business arrangements which existed between my late friend, Edward St. George and myself.

Specifically, I must now disclose that I am the beneficial owner of 75% of the private shares of The Grand Bahama Port Authority, Limited and Port Group Limited.

The Port Authority is owned by a Cayman Island company called Intercontinental Diversified Corp ("ICD"). ICD is itself owned by two other companies. The first is Seashell Investments Limited ("Seashell") which owns half of the shares of ICD and the second is Fiduciary Management Services Limited ("Fiduciary") which owns the other half of the shares of ICD.

I am the beneficial owner of all of the shares of Seashell and I am also the beneficial owner of half of the shares of Fiduciary.

Edward was the beneficial owner of the other half of Fiduciary.

As a result, I am the beneficial owner of 75% of the shares of ICD and of 75% of the private shares of the Port Authority and Port Group Limited.

I find it unfortunate that I have to make public the business relationship between myself and my late friend Edward, but I now regard it as essential to do so in light of the disputes which have arisen over the St. George Estate and the irresponsible statements which have been made in relation to the Port Authority by various persons who have claimed an interest in that Estate and others.

I repeat that I have full confidence in Hannes Babak as the Chairman of the Port Authority, and in fact in the entire management team of the Port Authority.

I wish to assure the licencees and staff of The Grand Bahama Port Authority and Grand Bahamians in general of my continued commitment to the Port Authority and to the future success of Freeport and Grand Bahama.

5. Small Craft Seminar

Nicki Smith of the International Institute of Marine Surveyors (IIMS) has passed on details of this
Small Craft Working Group Meeting and Training Seminar to be held on Tuesday 14Nov06 at the Holiday Inn City Line 4100 Presidential Blvd, Philadelphia, PA 19131, USA

This is the inaugural meeting for the USA Small Craft Working Group and the Institute would like to invite interested parties to attend. Here is a breakdown of events:-

Registration
0915 Welcome by Prof Thomas Ask, Acting Chairman 0930 Current Legal Issues for Surveyors
Mr H Allen Black, Affiliation, Partner, Winston & Strawn Allen Black is a partner in Winston & Strawn’s Washington, D.C. office with strong experience handling the full range of maritime matters, including regulatory issues, vessel financing and documentation, maritime litigation and arbitration, maritime commercial transactions, marine construction and product liability issues, and general maritime counselling.
1030 Morning Coffee
1100 US Coast Guard Marine Investigations
Lt(jg) Otis Barrett and Mr Mike Kaszuba, Investigation Unit Lt Barrett enlisted in the Navy in 1999, after Rutgers Graduate School. Got out the Navy in early 2003 and served as a Federal Police Officer with the Department of Defense. Attended Coast Guard Officer Candidate School in 2004 and assigned to Marine Safety Office Philadelphia Waterways Management Division in 2004 as an Ensign. Transferred to Investigations Division in 2005. Mr Kaszuba enlisted in the CG in 1980 and graduated in 1992. Was assigned to Marine Safety Office NY as an ensign. Earned CG Senior Marine Inspector qualifications while assigned to MSO NY. Transferred to Sector Delaware Bay in 1995 as a Marine Inspector. Latereled over to the Marine Casualty Investigations Office as a LT in 1996. Worked as a Marine Investigator until retired from active duty CG in 2003. Was rehired in 2003 as a civilian employee of the CG to fill the vacant position of Asst Senior Marine Investigator. Advanced to the position of Chief Investigations Division in 2005.
1200 Lunch
1330 Small Craft Working Group Meeting
1. Apologies
2. Announcement of New Chairman
3. Small Craft Working Groups role in the Institute, Mr Robin Gilmore, Director of Small Craft
4. Any Other Business
5. Roundtable discussion. Moderated by Mr Larry Montgomery, Acting Vice Chairman
1445 Afternoon Coffee
Continuation of the roundtable discussion.
1630 Close

There will be a charge of $110.00 for the training seminar and this will include light refreshment and lunch. An Institute Certificate of Attendance will be issued and this seminar will attract the usual one point towards the annual CPD. Places are limited for these training seminars.

Further details from Nikki at:-

iims@compuserve.com

6. And Finally...

This collection of bon mots noted at the Edinburgh Festival comes to us via Sydney and Frazer Hunt. Very good they are too.

I realised I was dyslexic when I went to a toga party dressed as a goat.

Marcus Brigstocke at the Assembly Rooms

Cats have nine lives. Which makes them ideal for experimentation.

Jimmy Carr

The right to bear arms is slightly less ludicrous than the right to arm bears.

Chris Addison at the Pleasance

My dad is Irish and my mum is Iranian, which meant that we spent most of our family holidays in Customs.

Patrick Monahan at the Gilded Balloon

The dodo died. Then Dodi died, Di died and Dando died. Dido must be sh*tting herself.

Colin & Fergus at the Pleasance

My parents are from Glasgow which means they're incredibly hard, but I was never smacked as a child... well maybe one or two grams to get me to sleep at night.

Susan Murray at the Underbelly

You have to remember all the trivia that your girlfriend tells you, because eventually you get tested. She'll go: "What's my favourite flower?" And you murmur to yourself: "Sh*t, I wasn't listening...Self-raising?"

Addy Van Der Borgh at the Assembly Rooms

The world is a dangerous place; only yesterday I went into Boots and punched someone in the face.

Jeremy Limb, at the Trap

I saw that show, 50 Things To Do Before You Die. I would have thought the obvious one was "Shout For Help".

Mark Watson, Rhod Gilbert at the Tron

I went out with an Irish Catholic. Very frustrating. You can take the girl out of Cork...

Markus Birdman at the Pod Deco

I got a phone call today to do a gig at a fire station. Went along. Turned out it was a bloody hoax.

Adrian Poynton at the Pleasance

Employee of the month is a good example of how somebody can be both a winner and a loser at the same time.

Demetri Martin at the Assembly Rooms

A dog goes into a hardware store and says: "I'd like a job please". The hardware store owner says: "We don't hire dogs, why don't you go join the circus?" The dog replies: "What would the circus want with a plumber".

Steven Alan Green at C34

Hey - you want to feel really handsome? Go shopping at Asda.

Brendon Burns at the Pleasance

I like to go into the Body Shop and shout out really loud "I've already got one!"

Norman Lovett at The Stand

I enjoy using the comedy technique of self-deprecation - but I'm not very good at it.

Arnold Brown at The Stand

If you're being chased by a police dog, try not to go through a tunnel, then on to a little seesaw, then jump through a hoop of fire. They're trained for that.

Milton Jones at the Underbelly

It's easy to distract fat people. It's a piece of cake.

Chris Addison at the Pleasance

P.S.

From Transport and Shipping PR man David Cheslin:-

The pastor entered his donkey in a race and it won. The pastor was so pleased with the donkey that he entered it in the race again, and it won again. The local paper read:- PASTOR'S ASS OUT FRONT!

The Bishop was so upset with this kind of publicity that he ordered the pastor not to enter the donkey in another race. The next day, the local paper headline read:- BISHOP SCRATCHES PASTOR'S ASS.

This was too much for the bishop, so he ordered the pastor to get rid of the donkey. The pastor decided to give it to a nun in a nearby convent. The local paper, hearing of the news, posted the following headline the next day:- NUN HAS BEST ASS IN TOWN.

The bishop fainted. He informed the nun that she would have to get rid of the donkey, so she sold it to a farmer for $10. The next day the paper read:-
NUN SELLS ASS FOR $10

This was too much for the! bishop, so he ordered the nun to buy back the donkey and lead it to the plains where it could run wild. The next day the headlines read:- NUN ANNOUNCES HER ASS IS WILD AND FREE

The bishop was buried the next day.

The moral of the story is....being concerned about public opinion can bring you much grief and misery...and even shorten your life. So be yourself and enjoy life... Stop worrying about everyone else's ass and you'll be a lot happier and live longer!

DavidCheslin@dunelmpr.co.uk

BOW WAVE is published each week to over 13 200 Readers in the transport,insurance,shipping and finance industries.

Thanks for reading BOW WAVE