Page 39: of Marine News Magazine (February 2019)

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RISK

Insuring the Marine Industry’s

Risky Work Environment

Credit: Shutterstock rom high-traffc ports to bustling boatyards, and busy tainership size transiting the Panama Canal was 6,846 shipyards to expanding marinas, marine professionals TEUs, up 5.4 percent from a year ago, and up 48.6 percent

Foperate in a challenging environment. They work on from three years earlier. Cargo moving through America’s land, on or around water, and are exposed to all kinds of ports has increased over the last two decades, with annual weather. And the challenges won’t ease up any time soon. growth between 3-5%.

Our nation’s ports continue to expand as trade surges. To make room, many ports are making improvements

Add in increased commercial vessel traffc and recreational and accommodations to provide appropriate water draft, boating, and it’s clear that marine businesses have to be in berth size, terminal space, suitable size dock equipment shipshape condition. It means that the marine insurance and rail connections. The Port of New York and New Jer- industry has to stay on its toes too, making sure that its sey had to raise the Bayonne Bridge between New Jersey products keep these businesses afoat. and Staten Island to increase the clearance capacity. The Port of Virginia is widening its shipping channels and

Today’s Working Environment deepening them to 55 feet. The Georgia Ports Authority

Take a look around today’s marine environment. Ships has begun the Savannah Harbor Expansion Project. This are getting bigger and more abundant. The average size will deepen the 18.5 mile outer harbor to 49 feet at mean of container vessels navigating US ports has grown con- low water and the Savannah River channel to 47 feet. The siderably over the past fve years. According to data from port will more effciently serve larger vessels due to the

BlueWater Reporting, as of August 2018 the average con- Panama Canal’s expansion.

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