Shipping News

Press, 11 July 1980, Page 10

Shipping News

Tanker-insurance costs to increase

After a series of tanker disasters in the first four months of this year, London insurance underwriters have decided to impose a sharp increase on oil carrier premiums while, at the same time, an urgent study of the mishaps’ causes has begun. The International Chamber of Shipping. representing about two-thirds of the world’s merchant ship tonnage, has begun the inquiry. Lloyd’s and other London insurance underwriters want safety devices to be installed aboard oil tankers, and have promised reduced insurance premiums if the so-called “inert gas systems” are installed.

For vessels not equipped with the system, the insurance premiums will be much higher. For ,many tanker owners, the increases could' mean an extra 20 per cent oh their insurance premiums.

The inert gas . system, which virtually eliminates the dangers of explosion aboard tankers, has been strongly backed by the Insurers, who want to establish a standard inert gas system warranty.

But the fitting of the system is an expensive exercise, and the chairman of the International Chamber of Shipping, Mr Harry Beazley, believes the underwriters are being unreasonable in trying to Impose the warranty provisions. He said recently that the underwriters had hot consulted closely enough with the shipping industry.

In the “Financial Times,” he said; “We fully support the fitting and correct use of inert gas systems, but the wording used in the warranty shows an incomplete understanding of the practicalities.”

ARRIVALS Union Hobart (7 a.m.), 4376, Wellington (U.S.S.). Iron Baron 18 p.m.), 5583, Napier (Seatrans). DEPARTURES British Security (7.30 a.m.), 15,095, Wellington (Dalgety). Strathmay <8.30 p.m.), 7999, Australia (Scales). Union Hobart (6.23 p.m.), 4376, Dunedin (U.S.S.). EXPECTED ARRIVALS Union Hobart, Dunedin, July 13. Nedllovd Freetown. Wellington, July 13. Messiniaki Thea, Bukom. July 13. Coastal Trader, Auckland, July 14. Flinders Bav. Wellington, July 14. Amokura, Wellington. July 14 Coastal Trader, Dunedin, July 16. Union Hobart. Dunedin, July 16. Marama, Wellington, July 16. ACT 2, Wellington, July 18. Anco Energie, Tauranga, July 18. PROJECTED DEPARTURES Iris, Nelson, today. Iron Baron, BeU Bay, today. Unity Reefer. Bluff, tomorrow. Messiniaki Thea, Auckland, July 13. Coastal Trader, Dunedin, July 14. Amokura, Napier, July 14. Union Hobart, Wellington. July 15. Flinders Bay. Jeddah, July 15. Coastal Trader, Auckland, July 16. Samos Sun. Iran, July 16. Marama, Tauranga, July 18 Anco Energie. Wellington, July 18. VESSELS IN PORT Unity Reefer, Cashin Quay No. 2. Iron Baron, Cashin Quay No. 1. Iris, No. 2 East. Samos Sun, No. 3 West. Holmdale, Dry Dock.