Salvage World Q3 2018

Page 1

October 2018

INTERNATIONAL SALVAGE UNION

Three ISU members in Orkney Islands joint operation A consortium of ISU members, Ardent, Multraship and Wagenborg successfully salvaged the Dutch cargo vessel PRISCILLA off the Orkney Islands in the UK in July. The vessel, laden with 3,000 tonnes of bulk fertiliser, had run hard aground on the Pentland Skerries while on passage from Lithuania to Silloth in northwest England. There were no injuries to the crew of six. In addition to the cargo, the casualty was carrying 52 tonnes of marine gas oil, four tonnes of heavy fuel oil and two tonnes of lubricants.

The Scottish ETV, IEVOLI BLACK, operated by Ardent and Marnavi, had been mobilized initially and attended with MULTRATUG 20 and the tug GREEN ISLE. After being awarded the LOF, the joint-salvors mobilised a salvage team and a spread of salvage craft and equipment including MULTRASALVOR 4 and MULTRASALVOR 3 as well as a receiving vessel and barges to take the vessel’s cargo. After discharging and de-ballasting operations, the salvors managed to refloat the vessel and keep her stable until all cargo was discharged into the receiving

vessel. Following a dive inspection, PRISCILLA was safely redelivered to her owners in Scapa Flow on 27 July. The salvage operation was overseen by the acting SOSREP Hugh Shaw (filling the post temporarily out of retirement) and a UK Maritime and Coastguard Agency team of salvage and environmental experts. The contractors report that throughout the operation they enjoyed close liaison with the stakeholders and community, SOSREP and the activated Salvage Control Unit.

MULTRASALVOR 4 discharging cargo from PRISCILLA on the Pentland Skerries

IUMI annual statistics - "hull sector remains a serious concern" The International Union of Marine Insurance (IUMI) has published its annual statistical report on the marine insurance market. It shows that global marine premiums were up by 2% but IUMI highlighted an increasing “mismatch” between income levels and covered risk.

compared with 2016. This upswing is largely attributable to growth in trade plus strengthening of European and other currencies against the US dollar. But it masks the dramatic situation which is unfolding when current premium levels are viewed in relation to covered risks and the impact of claims.

IUMI’s Facts & Figures Committee vice chair, Astrid Seltmann said: “Overall premium income reached US$ 28.5 billion in 2017 which represents a 2% increase

“The cargo market was recently affected by unprecedented natural catastrophes and outlier event losses and this has negatively impacted underwriting results. 1

"It also signals the increasing, and often unknown, accumulation of values both on shore and at sea. “In the hull market, falling vessel values have, among other market conditions, contributed to an erosion of income to a degree where income is now not sufficient to allow for normal repair costs in a given year. This downward trend is particularly worrying given the relative absence of major hull losses in recent years.


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.