BOW WAVE 513

Bow Wave Issue 513--Better Late than Never Edition

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Wavy Line	sam@wavyline.com
(c)2009 WavyLine.com	Issue No 513 14 Sep 09
Published free of charge to Readers
Editor: Sam Ignarski
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In this issue:

1. Welcome
2. Carbon Emissions
3. 911 Revisited
4. P&I Confidential
5. Toxic Seaweed in Plain English
6. And Finally...

1. Welcome

Poem of the Week

Real Estate

How odd to look across the way and note
the Hymans, neighbors for a generation,
are gone. Strange not to see a glimmer of light
in any window as I pass by, or Ida, bent and wiry, climbing her stoop with a bag of groceries,
or tending the doctor, neatly dressed, asleep in his chair on the porch, his light dimmed by a succession of strokes.

I was shocked when Ida called to say she sold
the building: two stories high, smooth gray brick, solid as a bank. Then, one day, the big truck came, Thirty years gone. Just like that.

Mark Perlberg (2009)

New Readers this week include:-

Nick Lipinski of the Intelligent Insurer
Jeff Buchanan of US brokers McGriff, Seibels & Williams Peter Crispin of surveyors Maritime Services International Lloyd's List Editor Tom Leander
Mark Houck of Miami maritime attornies Houck Anderson

News of Readers

David Cheslin has passed on word of The Coastlink annual Conference next week in Dunkirk. It should be a lively affair. One sessions addresses the issue of whether the ports of Antwerp and Hamburg have a future.

http://www.coastlink.co.uk/downloads/programmes/Dunkirk-programme080909.pdf

mailto:davidcheslin@coastlink.co.uk

AfterOfficeHours News

After Office Hours, the Emergency Contact Directory for people who need help quickly is accessed 125 times a day. Do you provide services to marine and transport insurers? Should your company be listed?

http:///www.AfterOfficeHours.com

Note from the Editor

Better late than never, we suppose, comes this edition of Bow Wave, delayed by pressing business affairs but full of moderately good stories all the same.

Enjoy!

2. Carbon Emissions

Anne Marie Kappel writes:-

The World Shipping Council (WSC) , on behalf of its member companies, issued today a summary of the efforts to effectively address carbon dioxide emissions from ships. This paper summarizes many of the issues, important principles, and challenges in constructing an effective and efficient international carbon emission regime for shipping. It notes that developing that regime is difficult, but it is not difficult because the industry opposes it. The liner shipping industry is committed to working with governments and other interested organizations to develop a sound international carbon emissions regulatory regime for shipping.

Read and download a full copy of the report at:-

http://www.worldshipping.org/liner_shipping_co2emissions_policy_september.pdf

3. 911 Revisited

That eminent source of good sense on security matters, Bruce Schneier, has republished some of his writings on the subject:-

On 30Sep01, he published a special issue of his
always interesting e-zine called Crypto-Gram discussing the terrorist attacks. He wrote about the novelty of the attacks, airplane security, diagnosing intelligence failures, the potential of regulating cryptography -- because it could be used by the terrorists -- and protecting privacy and liberty. Much of what he wrote is still relevant today.

http://www.schneier.com/crypto-gram-0109a.html

Also from 2006: "Refuse to be Terrorized."

http://www.schneier.com/essay-124.html

4. P&I Confidential

The following editorial appears in the current newsletter issued by Messrs AJ Gallagher:-

It is nearly 12 months since the commercial world stopped overnight as the financial markets went into free fall, having knock on effects throughout the global economy. This global situation has affected everyone, not least shipping: most observers agree that shipping had been due a correction following the unprecedented buoyant market spanning at least 5 years, but no one anticipated the depth and speed of that collapse. World trade seemed to freeze instantly, albeit momentarily, as the availability of short term credit disappeared overnight. Whilst this resolved itself within a few days, the inevitable recession was not far behind. Some sectors in shipping were impacted more than others, with container operators being most badly hit. Doommongers predicted years of recession yet the reality has been less severe than first anticipated. Curiously effective and decisive governmental intervention so far would appear to have arrested the slide and there are signs of a bounce back evidenced by stock markets being up by around 40% since March 2009.

P&I Clubs too were not immune - with investments in freefall and subsequently interest rates being repeatedly cut, the Clubs had a terrible headache with investment losses mounting. All clubs reported substantial losses on their funds ranging from 2% (Britannia and UK) to 17% (Skuld). The 20 February 2009 renewal was set in the environment of 6 Clubs making excess calls and featured heavy general increases, including changes to calls structure, ranging from 10% (Shipowners) to 29% (American). These came at a time when shipowners were still gathering their thoughts on what had gone wrong.

Ultimately the Clubs reported almost $ 700 million of investment losses. Ironically the Clubs had, for the first time in years, generated a real underwriting surplus, ignoring excess call income. There was however some artificiality in this situation with significant valuation gains being seen within the underwriting result, as the dollar strengthened as a safe "currency of refuge". The renewal was extremely tough, probably the most stressful since 1990. Accordingly, we at the Gallagher London P&I team decided to refrain from recommencing our P&I Confidential newsletters in April and instead give time for everyone, including us, toconcentrate on their own business, and establish a more clear pattern of what was going on as the dust settled on this turbulence.

Now that the summer has passed and P&I gradually returns to people’s thoughts, we resume our communication with a midyear review which highlights the latest audited results since February. This of course will be followed by regular updates as general increases for 2010-11 become known and by our full annual review which will also be available in mid December.

(Editorial comment:- Sad to say this publication seems to have lost its way. Instead of the lively insights, claims reviews and snippets of insider P&I information,which we have been pleased to feature in Bow Wave over the years, the current newsletter contains the usual fare provided by all the other P&I brokers. Pity.)

5. Toxic Seaweed in Plain English

Hats off to the communications people at AUSMEPA for the message below which delivers technical information in a way which is comprehensible to this average marine joe:-

Deadly Seaweed in Europe Could Be Just a Warning to Australians

In response to concerns being raised about reports from France and the UK about poisonous seaweed on beaches causing the death of one person and others falling ill, a spokesperson for the Australian Marine Environment Protection Association (AUSMEPA said today, that at this stage there is no evidence that beaches in Australia will have the same problem

Sea Lettuce, a common seaweed, is often seen washed up on Australian beaches. Alive it looks like green lettuce attached to rocks or bedded into sand or mud. The AUSMEPA spokesperson said nobody imagined that it had the potential to kill people. To endanger people it would have to be washed up onto the beach in vast quantities.

Once on the beach the bright green seaweed starts to rot. It turns white. A small piece of dead sea lettuce looks like a thrown away tissue. However in massive quantities it transforms into a solid white crust. Hydrogen sulphide a potentially deadly gas can build up underneath. It is when the crust is broken, the hydrogen sulphide is released. It smells of rotten eggs and if the concentration is high enough, the gas can be lethal. When Sea Lettuce rots in the sea at the start of autumn it turns black.

Sea Lettuce has become an increasing problem in the northern hemisphere. It grows in shallow water that has weak wave action. When the Sea Lettuce grows in vast mats, they kill all the sea creatures around them in the sand, mud and water. They seem to be toxic enough to prevent most animals from eating them. It is well known that when they rot in the sea, they produce hydrogen sulphide. Sea Lettuce needs high levels of nutrients such as nitrates. When the nitrates are high they can outgrow other species of seaweed.

That is what we do know!

So how has a common type of seaweed that we walk over many times at the beach suddenly have the potential to become deadly? The first culprit that is being blamed is the nitrogen from fertiliser that is washed from farms into the sea.

AUSMEPA hopes that the seaweed episode in Europe is just a warning of how our seas and oceans are responding to the environmental damage caused by human activities. It is imperative that we fully understand the cause of this poisonous outbreak. We look to the authorities in France and the UK to investigate this incident and provide information to the rest of the world.

The AUSMEPA spokesperson said the cause is more likely to be a combination of changes to the sea, just not fertilisers. Apart from fertilisers what other possible causes need to be investigated by the authorities --Has climate change and the increase in sea temperatures played a role?
--Why has so much sea lettuce been washed up? Is it due to more storms that again may be influenced by climate change? --Were there once shellfish or other animals that fed on the sea lettuce and have been killed off by other causes such as pollution or the accidental introduction of feral predators?

Might we face the same problem in Australia?

The AUSMEPA spokesperson said this is a warning sign to all that love visiting the beach and recommends that if anyone ever sees a vast mat of many square metres of dead crusty white algae, they should not break the surface, stay well away and contact their local council.

http://www.ausmepa.org.au

6. And Finally...

Thanks to Paul Dixon for both this week's offerings below:-

How True:-

A new man is brought into Prison Cell 102.

Already there is a long-time resident who looks 100 years old.

The new man looks at the old-timer inquiringly.

The old-timer says, "Look at me. I'm old and worn out. You'd never believe that I used to live the life of Riley. I wintered on the Riviera, had a boat, four fine cars, the most beautiful women, and I ate in all the best restaurants of France."

The new man asked, "What happened?"

"One day Riley reported his credit cards missing!"

P.S.

Stress Advice:-

Are you worried about how to stay stressed? You'll have no trouble if you practice the following clinically proven methods:-

Never Exercise - Exercise wastes a lot of time that could be spent worrying.

Eat Anything You Want - Hey, if cigarette smoke can't cleanse your system, a balanced diet isn't likely to.

Gain Weight - Work hard at staying at least 25% over your recommended weight.

Take Plenty of Stimulants - The old standards of caffeine, nicotine, sugar, and cola will continue to do the job just fine.

Avoid Relaxation Practices - Ignore the evidence suggesting that meditation, yoga, deep breathing, and/or mental imaging help to reduce stress. The 'perpetual work' ethic is good for staying stressed.

Get Rid of Your Social Support System - Let the few friends who are willing to tolerate you know that you concern yourself with friendships only if you have time, and you never have time. If a few people persist in trying to be your friend, avoid them.

Personalize All Criticism - Anyone who criticizes any aspect of your work, family, dog, house, or car is mounting a personal attack. Don't take time to listen, be offended, then return the attack!

Males and Females Alike - Be Macho. Never ever ask for help, and if you want it done right, do it yourself!

Become a Workaholic - Put work before everything else, and be sure to take work home evenings and weekends. Keep reminding yourself that vacations are for sissies.

Discard Good Time Management Skills - Schedule in more activities every day than you can possibly get done and then worry about it all whenever you get a chance.

Procrastinate - Putting things off to the last second always produces a marvelous amount of stress.

Worry about Things You Can't Control - Worry about the stock market, earthquakes, the approaching Ice Age, you know, all the big issues.

Become Not Only a Perfectionist But Set Impossibly High Standards - and either beat yourself up, or feel guilty, depressed, discouraged, and/or inadequate when you don't meet them.

Throw Out Your Sense of Humor - Staying stressed is no laughing matter, and it shouldn't be treated as one.

BOW WAVE is published each week to over 15 000 Readers in the transport,insurance,shipping and finance industries.

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