Category: Marine Insurance
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Coromandel International-Sub-sea pipelineLeakage-Is it an Act of God?
What happened to Coromandel International on……near Ennore in their sub-sea pipeline carrying Ammonia is an event that is waiting to happen to many industries in India. This is the second such incidence in India in 2023. Government is trying to fix the responsibility on Coromandel, to extract a penalty.Coromandel contends it us an “Act of…
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LNG PRODUCTION, PROCESSING & TRANSPORTATION RISKS
LNG is now very popular in industries & home as it is “Green” and enables setting up power plants in places needing power supply. Nitrogen fertilizers are also made from LNG. Indian home consumption was 5.6 Cub Ft/Day bn compared to China’s 36 Cub Ft/Day bn or 85 Cub Ft/Day bn in the US. With…
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HULL RISK & INSURANCE
Marine batteries are special starter and deep-cycle batteries designed for use in boats and other recreational equipment used on water. They are used in place of traditional lead-acid automotive batteries and employ features that support specific requirements of your boat’s engine and running systems. Some marine batteries protect against brutal operating conditions that include vibration,…
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Marine Supply Chain
As we know, lot of Russian Oil Imports take place in India as well in certain other non-western countries like China & Japan. Wondered how Russians are beating the Sanctions by the West? The main problems in sanctions by the G7 are Four-fold: 1. You cannot hire a Tanker Vessel from G7 Country or those…
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HULL & LIABILITIES RISKS
When courier delays delivery of original Bill of Lading (B/L) to an Importer, the Importer could give a Letter of Indemnity (LoI) to Shipping Lines and take the cargo. If there is a mis-delivery (i.e. there turns up another claimant with original B/L), Ship Owner becomes liable. This risk is covered by P&I club. One…
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OFFSHORE CONSTRUCTION & OPERATION RISKS
Many of World’s Offshore Oil & Gas Plants are becoming Older & Older, increasing a risk of accidents Worldwide. Older structures are more prone to accidents, especially fires, as per Wallstreet Journal (Dec 14,2010). “On Dec. 4, 2009, a severely corroded pipe connecting the structure to a high-pressure gas well gave way during routine maintenance,…
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SUPPLY CHAIN RISKS
One would think the old case laws-say, dating back to 1921, may have, most probably lost their relevance as subsequent decisions have been more elaborate or contracting practices have changed. However, there are some old cases which are very relevant today, like a chapter in a text book. One case in point is Niger Co…