BOW WAVE 391

Bow Wave Issue 391--Late Edition

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(c)2007 WavyLine.com	Issue No 391 21 May 07
Published free of charge to Readers
Editor: Sam Ignarski
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In this issue:

1. Welcome
2. Quarterpoints
3. Caveat
4. Albatross News
5. P&I Losses
6. And Finally...

1. Welcome

Poem of the Week

Siren Song

This is the one song everyone
would like to learn: the song
that is irresistible:

the song that forces men
to leap overboard in squadrons
even though they see the beached skulls

the song nobody knows
because anyone who has heard it
is dead, and the others can't remember.

Shall I tell you the secret
and if I do, will you get me
out of this bird suit?

I don't enjoy it here
squatting on this island
looking picturesque and mythical

with these two feathery maniacs,
I don't enjoy singing
this trio, fatal and valuable.

I will tell the secret to you,
to you, only to you.
Come closer. This song

is a cry for help: Help me!
Only you, only you can,
you are unique

at last. Alas
it is a boring song
but it works every time.

Margaret Atwood, from Selected Poems 1965-1975

Note from the Editor

This week marks the start of a new guest column
called Caveat where experts in their fields write on a subject of general interest. If you have something you would like to bring to the attention of our Readers, kindly send it. This week's contribution comes from the scientific consultants CWA.

This edition for a change goes out a day late due to hold ups at our distributors in Michigan. Apologies to those Readers who have missed us.

Enjoy!

2. Quarterpoints

Your editor's recent column in Lloyd's List pondered the suggestion that it is hard to get in the City if you are gay. If you don't want to end up in a firm with a problem look before you leap. A good look at the top brass should tell you all you need to know about a firm and its liberal qualities

Leadership remains a key factor in these more tolerant times

Quarterpoints Sam Ignarski Wednesday 16 May 2007

IN RECENT weeks there has been a torrent of comment about the conduct of Lord Browne, the former head of BP who blighted his position in the scheme of things by asserting some facts in a court which the judge refused to believe.
The assertions went to the origin and nature of a homosexual relationship Lord Browne was having with a younger man and how they met.

Apologists for Lord Browne point out that he comes from a generation where homosexuality was in general rarely admitted and never in the City of London, in particular where such an admission is still instant poison to a high-flying career for the individuals concerned.

Is the charge fair? Are the financial services industries still places where broad acceptance of homosexuality is only partially accepted?

The evidence of my own eyes tells me that it may well still be so, for reasons which also account for how commercial behaviour in the financial services industry can be unduly influenced by what is considered the "done thing", the "sound thing" or the "least risky thing" in making up one’s mind.

With honourable exceptions, the industries I know best are not particularly socially progressive, liberal or tolerant by nature.

They have within them many whose views could be considered reactionary, conservative or old-fashioned.

Certainly the generation above me I recall as being in the main censorious on the subject of homosexuality. This might be considered odd since many of that generation were educated in single-sex schools and colleges where homosexuality between students was accepted and many of the positions of influence were occupied by "confirmed bachelors".

At my old college the known homosexuality of some prominent members of teaching staff did not prevent them being generally held in high esteem by a liberal college community. But by the time I began working in the City there were examples pointed out to me of very able men who had been passed over for a partnership or promotion on grounds of their orientation and who perforce entered pastures new.

But I can also think of at least one of the classical breed of marine underwriters in Lloyd’s who made very little effort to conceal his homosexual nature and who was as a result something of a cause for mirth. But the man made a lot of money in a walk of life where it was much easier to lose quite a lot.

Now that this generation has passed on to retirement, is it any easier for modern-day gays to survive and thrive in these industries? I would have said it is, for social attitudes have softened over the years, even in the financial services sector. I can think of at least half a dozen people who make no particular secret of their gayness.

But is it any easier to progress up the ladder if you are openly gay? I rather think the narrowing of opportunities for higher promotion at some point becomes worse for many people -- gays, women, people of colour, contrarians who stand out from the middle of the bell curve.

It is the middle of the bell curve which is the origin of that old saying that a million flies cannot be wrong. The tendency to try to conform to a current conception of opportunity or risk in the world of money also arises out of this tendency to move in platoons and in lockstep.

There is a perfectly respectable theory of history which sees severe swings in financial markets as the products of group or mass psychology.

What makes the difference between a benign and tolerant environment and a hostile, intolerant one in the financial world? Without doubt it is the quality of the leadership, for most firms in these sectors do not stake much on democracy or consensus as a way of governance.

The environment of a firm is almost always shaped by a relatively small group of highly influential executives who between them govern a population of highly ambitious and suggestible juniors.

This is why it seems to me it is always time well spent to try to gauge the nature of a firm before you join it.

I joined the world of financial services from academe so at the time it seemed important to see whether the firm I was joining had men on the staff who contributed to the world of ideas, articles and books.

Another fine clue to the outsider is the nature of the senior people engaged in the business. Are they attractive, liberal examples of the species or are they the common or garden lesser types often found in firms, the phonies, the bullies, the exercisers of somewhat capricious institutional power?

If it is the latter you may end up in a financially successful but socially and morally dingy environment, where a visit to a lap danc- ing establishment is considered a reward worthy of achievers.

3. Caveat

Dr James Kelman, Senior Technical Manager of CWA International writes:-

Car Fires New Technologies, New Risks

Battery power and hydrogen fuel cells are the technologies of the future for road transport, but are they technologies with new and unresolved risks? Crashworthiness of new vehicles is well understood and testing procedures are rigorous but refuelling with highly explosive hydrogen or managing high voltage batteries are new unknowns. Fire risks emerge with renewed importance for both hydrogen and surprisingly, batteries. Current electric vehicle batteries use Nickel Metal Hydride (Ni-MH) batteries for power and future vehicles are likely to use Lithium Ion (Li-Ion) batteries. In a fire, or even at temperatures over 100 centigrade, Ni-MH batteries release hydrogen, creating an immediate hazard.

In 2004 there were over 60,000 car fires in the UK of which some 13,000 were accidental. Defects in batteries and wiring were the single biggest cause. Existing car batteries are minnows by comparison with developing electric vehicle batteries. Electric vehicle batteries are about 10-30 times higher voltage, and store 10 times the energy of standard 12 volt batteries. Faster bigger fires are more likely as electric vehicles age and grow in number.

The danger with new vehicles does not stop with a single car fire. A fire in a car park will heat up cars and if they are electric or hydrogen vehicles they will vent hydrogen. Currently, car fires rarely ignite a neighbouring vehicle, but new electric vehicle batteries and hydrogen storage will vent and then burn at much lower temperatures than existing cars.

What stops the fire? Fire brigades can put out the fire, but that won’t stop the hydrogen release. While hydrogen is being released, explosions remain a major hazard in confined spaces, such as underground car parks.

Electric vehicles are currently in the minority, but as they play a bigger role in the market place, the fire risks will need to be addressed.

For more details see:-

http://www.cwa.uk.com/contents/fx_art01.htm

4. Albatross News

We regularly receive a newsletter from the RSPB which concetrates on measures to protect that most maritime of birds, the albatross.

This week Dr Ben Sullivan writes:-

Technical advancements to help cut albatross deaths

You will remember that several months ago I reported on a bait-pod for pelagic (open sea) longline fisheries, that I was working on with Pete and Ben Kipel

http://www.fishtek.co.uk/

well that is bubbling along nicely and we hope to have a new prototype ready for testing in a few months. We are also now in the final stages of developing a new type of weight (Smart Lead) to add to the snoods of pelagic longlines.

The Smart lead came about in response to the safety issues surrounding the use of leaded swivels on longlines. Leaded swivels of 45g and 60g, and sometimes up to 100g are used to increase the sink rate of the branch lines. Studies have shown that adding weights to longlines can reduce the catch of seabirds by 90%. Weighted lines are one of the most effective methods of reducing seabird and turtle bycatch.

The main problem with leaded swivels occurs when the branch lines snap under tension. This can happen when sharks grab the baited hooks as the line is being hauled. The branch lines stretch by several metres under extreme tension and when they snap, catapult the leads towards the boat at up to 700 km/h. Fishermen refer to the weighted swivels as "lead bullets". Over the past few years there have been serious injuries and even deaths of fishermen, leading to reluctance among fishers to use weights on branch lines.

The Smart lead resolves the problem, acting as a fuse and releasing the weight whenever the line snaps under tension, thus protecting the fishermen from injury. By addressing the fishermen's safety concerns, more boats could be encouraged to use line weighting which would have a significant impact on sea bird mortality. Prototypes have already been tested and proved to be very reliable. Sea trials are underway in Hawaii and Australia. We should be able to report the results of these within 4-6 weeks. So, its all exciting stuff and will hopefully pelagic fisheries around the world will be using Smart leads in the future. Its great to be involved at the coal-face of not only working with fishermen but helping to design new measures to reduce bycatch.

http://www.savethealbatross.net

5. P&I Losses

Courtesy of AJ Gallagher's "P&I Confidential" comes this list of claims noted in the early months of this year. The editor of this always readable publication is Roger Ingles:-

2007-1 7 February 2007 -- Zinifex Century Mining transfer vessel MV "Wunma" taking 5,000 tons of zinc ore from the port of Karumba to the MV "Ernest Oldendorff" caught up in Cyclone Nelson and swamped. Vessel abandoned and crew winched to safety by helicopter. Initial fears of environmental damage proved groundless, vessel salvaged and returned to port of Weipa for repair.

2007-2 15 February 2007 -- Japanese Government whale processing ship MV "Nisshin Maru" caught fire and was stranded off the Antarctic Coast with one crewman missing, remainder of crew evacuated to other vessels in whaling fleet. Involvement by members of Sea Shepherd protest group has been denied. In absence of factory ship, fleet ultimately returned from hunt having only slaughtered 60% of its target kill, so at least there is some good news in this casualty.

2007-3 22 February 2007 -- PT Praga Jaya Sentora owned ferry MV "Levina 1" caught fire en route from Jakarta to Bangka, Indonesia. At least 50 fatalaties amid usual suggestions of overcrowding and inadequate manifests. Vessel towed to port where it sank on 27 February with journalists, investigators etc on board. 3 further fatalities from second incident.

2007-4 8 March 2007 -- Grimaldi Lines container ro-ro vessel MV "Repubblica di Genova" rolled onto side and later capsized in Verrebroek Dock, Antwerp. Containers and vehicles bound for Luanda, Angola overboard; vessel evacuated. Port traffic in dock stopped. To complete a bad week for Grimaldi, on 12 March sister ship MV "Repubblica di Venezia" was involved in collision with MV "New Venturer 1" in the Northsea Canal near Amsterdam. Club: Grimaldi-- Gard; MV "New Venturer"-- UK.

2007-5 25 March 2007 -- German container barge MV "Excelsior", while executing turn in River Rhine near Cologne, lost 32 containers overboard some containing hazardous substances. River closed for 5 days leaving over 500 ships stuck in the Rhine and causing severe delays to European commerce.

2007-6 6 April 2007 -- Louis Cruise Lines passenger vessel MV "Sea Diamond" ran aground, listed and eventually sank on rocks off the Greek island of Santorini. 1195 passengers and 390 crew safely evacuated, 2 passengers missing. Subsequently the captain and five officers were arrested and charged with causing a shipwreck through negligence, breaching international shipping safety regulations and polluting the environment.
Club: West of England.

2007-7 12 April 2007 -- Norwegian tug/supply vessel MV "Bourbon Dolphin" operating as an oil rig anchor handling vessel capsized in region of Rosebank oilfield, some 75 miles off the west coast of the Shetland Islands, UK. Vessel sank 3 days later. 8 of 15 crew died, remainder hospitalised. Club: Gard.

Contact:-

Bernard_Cook@ajg.com

6. And Finally...

Many thanks to Frazer Hunt for this one:-

The Brain

In the hospital the relatives gathered in the waiting room, where their family member lay gravely ill.

Finally, the doctor came in looking tired and sombre.

"I'm afraid I'm the bearer of bad news," he said as he surveyed the worried faces.

"The only hope left for your loved one at this time is a brain transplant.

It's an experimental procedure, very risky but it is the only hope.

Insurance will cover the procedure, but you will have to pay for the brain yourselves..."

The family members sat silent as they absorbed the news. After a great length of time, someone asked, "Well, how much does a brain cost?"

The doctor quickly responded, "$5,000 for a male brain, and $200 for a female brain."

The moment turned awkward. Men in the room tried not to smile, avoiding eye contact with the women, but some actually smirked.

A man unable to control his curiosity, blurted out the question everyone wanted to ask,

"Why is the male brain so much more?"

The doctor smiled at the childish innocence and explained to the entire group, "It's just standard pricing procedure. We have to mark down the price of the female brains, because they've actually been used.

P.S. from Paul Dixon's Joke of the Day

Q: What happens when you play country music backwards?

A: You quit drinking, you get your wife back, you're rehired and your lost dog comes home.

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