Security upgrades set to make India�s ports even more costly
a-birdes-eye-view-of-containers
Bangalore: India’s relatively high-cost ports are likely to charge even more as the government takes steps to beef up security following the Mumbai terrorist attacks.
The government is planning to install equipment to scan cargo containers, set up a marine commando force, increase the number of security personnel and buy speedboats to help in search operations.
[...]
The latest must-have for commercial shipowners: a piracy insurance policy
cargo
A risk consultancy with close ties to the Lloyd’s insurance market is offering the world’s first insurance policy for shipowners covering potential ransom payouts on crew members who have been kidnapped.
Kidnap and ransom insurance is well-established but has traditionally been offered only in respect of individual executives working in commercially sensitive [...]
Exxon Valdez Put to Rest
valdez
The most anticipated maritime law decision in recent years has been the decision in June 2008 by the U.S. Supreme Court that reduced the award of punitive damages against Exxon from $2.5 billion to $500 million. After nearly 20 years of litigation against Exxon and the captain of its vessel, the case is finally at [...]
Shipbreaking set for healthy turnaround amidst gloom
cargo
Amidst the all pervading recessionary trends, at least one segment of maritime industry is jubilant. Shipbreaking industry, Indian or global, is
up and going and is expected to post a remarkable turnaround this fiscal. The turnaround is more pronounced in the case of India, where it had been in doldrums during the last couple of years. [...]
More casualties, fewer losses
THE combined total of losses of and serious casualties to merchant ships continued to increase in 2007, with over 1,000 incidents, a record number, delegates at the annual conference of the International Union of Marine Insurance in Vancouver were told. Incidents have shown a steady upward climb since 2006 when 600 were reported.
However, there has [...]
