BOW WAVE 378

Bow Wave Issue 378--P&I Prerenewal Edition

news and views on trade, insurance and risk

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(c)2007 WavyLine.com	Issue No 378 19 Feb 07
Published free of charge to Readers
Editor: Sam Ignarski
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In this issue:

1. Welcome
2. P&I Renewal Date Draws In
3. Loss Log Claims
4. Professional Indemnity Forum joins IUA
5. RSPB's perspective on the MSC Napoli
6. And Finally...

1. Welcome

Poem of the Week

This Is the Hay That No Man Planted

This is the hay that no man planted,
This is the ground that was never plowed,
Watered by tides, cold and brackish,
Shadowed by fog and the sea-born cloud.

Here comes no sound of bobolink's singing,
Only the wail of the gull's long cry,
Where men now reap as they reap their meadows
Heaping the great gold stacks to dry.

All winter long when deep pile the snowdrifts,
And cattle stand in the dark all day,
Many a cow shall taste pale sea-weed
Twined in the stalks of the wild salt hay.

Elizabeth Coatsworth

New Readers this week include:-

Eva Ivanov of Marsh Ontario
Neil Hiller of Lumleys in Australia
Nigel Russell of HSBC
Capt Zhivko Zhekov of Henderson International in Varna Surveyor Capt Nimal Perera in Colombo
Roger Smart of ING Bank in Singapore
Pacific Regional Manager Phil Webster of Allianz

News of Readers

FRITZ Jacob Fredriksen has been appointed chairman of the International Bunker Industry Association (IBIA).

Andreas S. Maroulletis will be transfering from the London office of Shipowners Claims Bureau (The American P&I Club) to the Piraeus office, as of March 1, 2007. Contact him at:-

maroulletis@scb-uk.com

Taco van der Valk, a partner in the Dutch law firm AKD Prinsen Van Wijmen, has been appointed an honorary deputy judge (Lord Justice) in the Court of Appeal at The Hague by Her Majesty Queen Beatrix of the Netherlands.

The Court of Appeal in The Hague hears appeals from the district courts of Rotterdam and Middelburg, the first-instance courts dealing with the majority of shipping and transport cases in the Netherlands. Middelburg has jurisdiction over the port of Vlissingen (Flushing) and the western Scheldt River leading to the port of Antwerp in Belgium.

http://www.akd.nl

Port Captain Malcolm Burgess in Sydney is retiring

malntina@bigpond.net.au

Readers Write

From Mr John Eagle:-

My eye caught on Jan 21 in Jason Copeland's diary (Bow Wave Issue 377--The month of JAnuary in Marine) ......

Who said -"rumours exaggerate
Reports of my demise"?
Oscar might be a candidate
Tho praps it would be wise
To Google if the "not-yet-late"
Was Wills O’Flaherty Wilde?

I wonder if the Twain had met?
If they would both be quite upset?

contact him at:-

johneagle@networkcitypartners.com

Note from the Editor

Greetings from this P&I pre-renewal weekend.

Enjoy!

2. P&I Renewal Date Draws In

This week will see the annual announcements of the ins and outs in the P&I Clubs. If it is like previous years, the maths will be a little out of kilter, with Clubs announcing enough gains to account for 105 per cent of known world tonnage and perhaps no more than 2 per cent of business mobile as between Clubs.

This annual round of slightly mendacious reporting has been likened to election turnout figures in the old days in Eastern Europe.

Still some of the trends underlying the movements are strong and nigh on unstoppable in the short term. The emerging powers in P&I continue to show positive sighs while others struggle with lower ratings, moribund ideas and mediocre market positions.

The world facing the Clubs is imposing greater liability, the growth of pool claims have been a feature of recent years and the hunger for Calls has not really abated despite the rounds of increases in recent years.

Perhaps the most modern pressure facing the system is the consolidation of shipping, where larger and larger operators emerge. In some Clubs the larger members account for increasingly large proportions of their organisations and Board membership. It gets harder to feather their risks with the ships of the all the rest.

3. Loss Log Claims

The listing below is taken from the excellent P&I Confidential Report issued by the firm of AJ Gallagher.

Loss Log -- December/January

A round up of some of the more interesting or unusual losses in the past months.

2006-35 5 December 2006 -- Yang Ming Marine container carrier MV "YM South" grounded off Wilmington, North Carolina. Vessel took on water and it is anticipated that significant cargo damage ensued. Club: Britannia.

2006-36 6 December 2006 -- Dockwise Shipping BV’s semi- submersible MV "Mighty Servant 3" developed a list and sank off the Northern Angolan coast. Vessel had just offloaded drilling platform "Aleutian Key". All crew of vessel and rig safe.

2006-37 29 December 2006 -- Prima Vista Shipping (Indonesia) ferry MV "Senopati Nusantara" sank in heavy seas near Mandalike island, between Borneo and Java. According to the manifest, 628 persons on board, including 57 crew, of whom some 245 have survived. 14 people were picked up in liferaft, 9 days later, by MV "Mandiri IV", hundreds of kilometres east of the sinking.

2006-38 6 January 2007 -- Transoptimal Shipping’s dry car go vessel MV "Odisk" evacuated all 10 crew in Yalta, Ukraine with poisoning symptoms. Vessel was carrying ferrosilicon, which becomes toxic when soaked. 2 crew subsequently deceased.

2006-39 12 January 2007 -- Dalnave Navigation bulk carrier MV "Server" grounded in heavy weather conditions close to Fedje, Norway. The vessel subsequently broke in two and escaping bunker oil caused pollution in the area. Club: Gard.

2006-40 January 13 2007 -- Aeromic Shipping’s bitumen/ asphalt carrier MV "Bitumen Glory" abandoned by 19 crew 60 miles off Thai resort of Phuket, after engine room fire spread to accommodation area. Club: Shipowners.

2006-41 15 January 2007 -- Italian State Railways operated commuter hydrofoil MV "Segesta Jet" in collision with container vessel MV "Susan Borchard" near Messina, Sicily. 4 fatalities (captain and 3 crew members) and 55 of 150 passengers injured. Club: North of England

2006-42 17 January 2007 -- Zodiac Maritime Agencies c ontainer vessel MV "MSC Napoli" took on water after cracking shell plating in high winds off the coast of Sidmouth, Devon. Crew evacuated and vessel beached in Branscome Bay. Approximately 100 containers lost overboard, many of which are understood to contain hazardous materials: this did not however deter the plucky British looter. Container unloading now commenced and vessel not in danger of breaking up. Some pollution.
Club: (for owners) London; (for charterers) North of England.

2006-43 31 January 2007 -- Hurtigruten cruise vessel MS "Nordkapp" ran aground near Deception island, South Shetlands and was forced to evacuate all 300 passengers to sister ship MS "Nordnorge" to complete their voyage to Ushuaia, Argentina. Club: Gard

Further details contact:-

Bernard_Cook@ajg.com

4. Professional Indemnity Forum joins IUA

Scott Farley writes:-

The International Underwriting Association is to run a London Market group for professional indemnity underwriters. The Professional Indemnity Forum aims to promote sound principles for the best practice of professional indemnity insurance. It will provide an opportunity for discussion and education on all relevant underwriting, claims and technical matters.

In addition, the Forum holds a popular annual conference to discuss topical industry concerns. This year's conference will be held from 2nd - 4th July at Robinson College, Cambridge taking a detailed look at legal cases and trends impacting underwriting and claims strategies. Titled 'Professional Indemnity: Trends, Trials and Tensions' it will include presentations from leading industry experts on subjects including conflicts of interest, mortgage fraud and regulation. The conference is open to anyone involved in the market, including underwriters, claims managers, risk managers, lawyers and brokers. Russell Newell, Divisional Underwriters Professional Indemnity for Canopius Managing Agents Ltd, is Chairman of the Forum. He said: "The Professional Indemnity Forum plays a valuable role in bringing together leading underwriters in London to further levels of knowledge in the market as a whole. It pursues an academic approach to dealing with real problems facing the market. "The support provided by the International Underwriting Association will undoubtedly boost these benefits and further help those professionals with an interest in professional indemnity."

Underwriters from London’s professional indemnity community in both the company and Lloyd's markets will meet on a monthly basis with secretariat support provided by the IUA. The forum will also aim to communicate the views of its membership to other market bodies, government and regulatory authorities. It will establish working groups to review policy wordings or clauses of interest to the professional indemnity market and provide delegates to other relevant liaison groups.

The Professional Indemnity Forum has previously operated as an independent entity within the London market for a #number of years. It has now voted to become a full part of the IUA structure which provides underwriting and claims committees for different classes of business across the company market.

The group's Deputy Chairman is Mark Lawrence, of Heritage Plc, and Chris Jones, the IUA’s Aviation Manager, has been appointed secretary. Subject to the association’s usual operational and competition protocols the Forum is open to all professional indemnity underwriters among the IUA’s member companies. For further details contact

christopher.jones@iua.co.uk.

5. RSPB's perspective on the MSC Napoli

The Royal Society for the Protection of Birds has a section given over to the MSC Napoli. Click on the link below

http://www.rspb.org.uk/policy/marine/news/napoliupdate.asp

6. And Finally...

Many thanks to Paul Dixon's Joke of the Day for these:-

Extracts from alleged letters sent to various councils and housing associations throughout the UK:

1. I want some repairs done to my cooker as it has backfired and burnt my knob off.

2. I wish to complain that my father hurt his ankle very badly when he put his foot in the hole in his back passage.

3. .. and their 18 year old son is continually banging his balls against my fence.

4. I wish to report that tiles are missing from the outside toilet roof. I think it was bad wind the other night that blew them off.

5. My lavatory seat is cracked, where do I stand.

6. I am writing on behalf of my sink, which is coming away from the wall.

7. Will you please send someone to mend the garden path. My wife tripped and fell on it yesterday and now she is pregnant. We are getting married in September and we would like it in the garden before we move into the house.

8. I request permission to remove my drawers in the kitchen.

9. ..50% of the walls are damp, 50% have crumbling plaster and the rest are plain filthy.

10. I am still having problems with smoke in my new drawers.

11. The toilet is blocked and we cannot bath the children until it is cleared.

12. Will you please send a man to look at my water, it is a funny colour and not fit to drink.

13. Our lavatory seat is broken in half and is now in three pieces.

14. Would you please send a man to repair my spout. I am an old age pensioner and need it badly.

15. I want to complain about the farmer across the road; every morning at 6am his cock wakes me up and its now getting too much for me.

16. The man next door has a large erection in the back garden, which is unsightly and dangerous.

17. Our kitchen floor is damp. We have two children and would like a third so please send someone round to do something about it.

18. I am a single woman living in a downstairs flat and would you please do something about the noise made by the man I have on top of me every night.

19. Please send a man with the right tool to finish the job and satisfy my wife.

20. I have had the clerk of the works down on the floor six times but I still have no Satisfaction.

21. This is to let you know that our lavatory seat is broken and we can't get BBC2.

22. My bush is really overgrown round the front and my back passage has fungus growing in it.

23. ... and he's got this huge tool that vibrates the whole house and I just cant take it anymore.

24. ... that is his excuse for dogs mess that I find hard to swallow.

P.S.

This rude one came to us courtesy of Frazer Hunt:-

A man and a woman, who have never met before, and are both married to other people, found themselves assigned to the same sleeping room on a transcontinental train.

Though initially embarrassed and uneasy over sharing a room, they were both very tired and fell asleep quickly...he in the upper bunk and she in the lower.

At 1:00 AM, the man leaned over and gently woke the woman saying,"Ma'am, I'm sorry to bother you, but would you be willing to reach into the closet to get me a second blanket? I'm awfully cold."

"I have a better idea," she replied. "Just for tonight, let's pretend that we're married."

"Wow! That's a great idea!" he exclaimed.

"Good," she replied. "Get your own f****** blanket!

After a moment of silence, he farted.

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