WAPS market nears a tipping point, says LR analysis
NewsMOL and Vale retrofitted a Capesize bulk carrier with rotor sails, marking a first, as Lloyd’s Register predicts the market will soon surpass 100 WAPS installations.
IUMI mulls machinery matters
As might be expected at any marine insurance event, the issue of claims ratios and whether they are moving up or down, is always a big talking point. This year’s conference of the International Union of Marine Insurance (IUMI), in Genoa in September was no exception.
The main forum on hull business concentrated on machinery damages – the biggest single factor affecting claims other than total losses, delegates heard. Several speakers emphasised that it is not only older ships involved. There is also a high incidence of claims from ships between one and six years old.
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