Page 27: of Maritime Reporter Magazine (March 1992)
March, 1992 101
ESPRIT - EXCELLENCE • EFFIZIENZ
Circle 302 on Reader Service Card 29 marine underwriters at Lloyd's, the
Joint Hull Committee has intro- duced a structural condition war- ranty that will require owners to carry out a survey of their vessels within a specified time before insur- ance cover can be renewed.
Roger Nixon, chairman of the
Joint Hull Committee, said under- writers can insist on the warranty at their discretion. The panel pro- posed no hard and fast rules about
Ship Gaming, Consolidator
Approved By House
Bills legalizing gambling on U.S. passenger vessels and giving ocean freight consolidators more flexibil- ity in fulfilling bonding requirements were recently sent by the House to the President's desk.
It also approved and sent to the
Senate a bill directing the Maritime
Administration to scrap 116 obso- lete vessels in the national defense reserve cargo fleet under a five-year timetable.
The bill includes a technical change in a 1990 law requiring ocean consolidators, also known as non- vessel operating common carriers or
NVOs, to post $50,000 bonds at the
Federal Maritime Commission.
The gambling amendments allow gaming, which is permitted on for- eign-flag vessels, on U.S.-flag ves- sels in international waters. The
Maritime industry has pushed the provision as a way to increase the number of U.S. cruise vessels and make them competitive with their foreign-registered counterparts.
The reserve fleet scrapping bill requires the scrapping of all of the vessels in the reserve fleet over the next five years—except the 96-ves- sel Ready Reserve Force that is kept in quick activation status for mili- tary supply operation status for mili- tary supply operations in the early stages of a war or emergency.
Scrapping those vessels will save about $10 million in yearly mainte- nance costs, according to the GAO, and their sale for scrap could gener- ate $38 million to $42 million to improve the ready reserve fleet.
Ten Members Added
To Oil Spill Group of risky commercial ships and on de- priving some of them of hull insur- ance.
Coming in the wake of the worst year for casualties for bulk and com- bination carriers, this strategy is part of a plan to be phased in by members of the Institute of London Underwrit- ers (ILU) and Lloyd's of London, the institutions that comprise most of the worldwide marine insurance market.
Representing both the institute and when an owner might be asked to con- duct the extra survey.
Mr.Nixon said tankers and bulk carriers more than 12 years old prob- ably should undergo the new inspec- tion. He advised insurers to check all vessels more than 15 years old.
The ILU, meanwhile, warned that double-hull tankers probably will be liable to higher insurance premiums because of the dangers of gas building up between the two hulls.
A group of energy and transport companies established to fund a nationwide oil-spill response net- work, the Marine Preservation As- sociation, said 10 companies joined the organization since December, bringing total membership to 37.
The group also said it would in- crease its funding for the Washing- ton-based Marine Spill Response
Corp. to $400 million up from $270 million in grants pledged by last summer.
The 10 new members announced are: Citgo Petroleum Corp.; Crown
Central Petroleum Corp.; Clark Oil & Refining Corp.; First United Ship- ping Corp.; Koch Industries Inc.;
Melbury Shipping Co.; Silverton
Shipping Co.; Overseas Shipholding
Group Inc.; Pacific Gas & Electric
Co; and Total Oil Inc.
Planned By Ship Insurers
Many international marine in- surers, faced with mounting losses, have decided on closer inspections
Voith Schneider America Inc. (Eli Shaprut) 121 Susquehanna Avenue
Great Neck, N.Y. 11021
Telephone: 5 16-4 66 57 55
Fax: 5 16-4 66 53 80
Diamond Canapower Ltd.
P.O. Box 5051,1122 Pioneer Rd.
Burlington, Ontario L7R 4 A7
Telephone: 416-3 35 03 21
Fax: 4 16-3 32 63 99
J.M. Voith GmbH
Marine Engineering Division
Postfach 19 40
Tel. (0 73 21) 37-0
Fax (0 73 21) 37-71 05
VOITH 125 YEARS,
Depend on Voith for more reliability and safety in ports and harbours.
Voith Water Tractor
Voith Water Tractor: the ideal shiphandling tug - for today and tomorrow.