Download - Shipbuilder Insurance Presentation
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An Insurance Pers ective on Newbuildin
by Tang Sauby Tang Sau WengWeng 2626 June 2009June 2009
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CSL Global Ltd
Leading Providers of Marine & Transportation Risk Services
CSL Global Ltd is a leading provider of professional claims, risk control and recovery services to the marine insurance
industry and to clients operating in and around the global cargo, shipping, transportation and supply chain sectors.
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CSL Global Ltd is a leading provider of professional claims, risk control and
recovery services to the marine insurance industry and to clients operating in and
around the global cargo, shipping, transportation and supply chain sectors.
CSL offers clients consistently high service standards founded upon a strongcommitment to technical excellence and communication.
Our international resource network comprises a team of over 65 dedicated industry
specialists drawn from a broad but complementary range of marine
and
transportation risk disciplines, operating from owned or controlled offices in NorthAmerica, Latin America, Europe and Asia.
Our offices are managed and operated by dedicated marine personnel with provencareers in the marine and transportation risk sectors. The marine business is our
upbringing, our lifeblood and our future.
In the fast moving and volatile world of international commerce,
CSL companies
have the operational agility and innovation to respond to clients modern day needs
on a local, regional or global basis.
A Brief Introduction to CSL Global
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RISK CONTROL
Loss prevention
Risk control reviews
C-TPAT / SOX security planning andaudits
Location reviews
Load, stow & securing surveys
Vessel outturn inspection & control
Supply chain
risk analysis, risk
monitoring
Car accounts
transit & storage
Marine risk consultancy
CSL Global Services
MARINE CLAIMS
Surveys & investigations
Freight liability
Specie, including Cash in Transit
Claims management
Loss adjusting
General Marine Liability
Third Party Administration (TPA)
Recoveries
PROJECTS
Warranty surveys for the internationalinsurance markets on large infrastructuredevelopment projects.
Power generation
Petrochemical
Oil & Gas
Heavy Industry
Load, discharge & route /transportation consultancy
Management of whole project on aglobal basis
TECHNICAL SERVICES
Hull & Machinery
Shipyard inspections
Marine casualty
Port risk assessments
Tug & tow
Super yachts
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Contact CSL Global
For further details of how CSL Global can assist you, or to instruct us to act on your behalf please contact thefollowing regional client managers:
GLOBAL SERVICES
Cargo & Logistics:
Hull & Machinery:
Chris Ball
+44 20 7816 5870 Steve Gilbert
+44 20 7816 5870
EMEA
(Europe, Middle East & Africa) USA & Canada
Europe:
Chris Ball +44 20 7816 5870
Michael Logue +1 609-240-9690
Middle East:: Steve Gilbert
+44 20 7816 5870
Michael Iversen
+1 417-461-7090
[email protected]:: Jason Gibbons +44 1622 816 015
Latin & Central America
Asia
Jorge Viuela
+56 9 9251-1137
Sau
Weng
Tang
+65
9728 3168
Mark Hanna
+56 9 [email protected]
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Agenda
Risk Profile of Shipbuilding yards
Present market conditions
Risk Assessment of Shipbuilding yards
Key learning points from JH 143 surveys
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Risk Profile of Shi buildin Yard
Yard RisksConstruction Risks (The vessel under construction)
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Risk Profile of Shi buildin Yard- Yard Risks
Environmental earthquake, flooding, typhoon
Physical damage Welding, hot work, FIRE
Theft tools and equipment
ersonne n ur es
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Risk Profile of Shi buildin Yard- Construction Risk (vessel under construction)
Physical damages fire, mishandling of equipment
Delay equipment, parts
Non performance failure to meet design expectations
on rac ua ssues no se v ra ons
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Present Market Conditions
insurers perspective
Orderbook 9,454 vessels of 180m CGT / 557m dwt
Asian yards attracted some 55% of global orderbook60% contracted in Chinese shipyard (in 2009)
Vessel value difficult to assess value accurately
Underwriting capacity Reduction in number of underwriters
Risk Management approach Introduction of JH 143 shipyard risk assessment
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Risk Assessment of Shipbuilding Yards
- Why is it necessary ?
n a mon per o m on o c a ms
passed to Underwriters All from fires and other accidents during
newbuildings and conversion projects
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Imagine this .
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Construction Risk some examples
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Construction Risk some examples
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Construction Risk some examples
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Construction Risk some examples
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Construction Risk some examples
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Construction Risk some examples
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Everyone thought that they were
SAFEBUT
e as
Not been effectively dealt with
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What is JH 143 Warranty Risk Assessment ?
Introduced in 2003 by the Joint Hull Committee at Lloyds
A survey of the shipyard before construction or repairs
- to evaluate the shipyard
Insurers have demanded that surveys to be completed beforeproviding any form of coverage
Surveys to be carried out by independent parties
shipyards
construction
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What does JH143 survey covers ?
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JH 143 Grading
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From experience, the key learning points from
JH 143 surveys are :
The management of sub contractors
ouse eep ng an c ean ness
Fire revention and fi htin
Top management involvement
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Agenda
Risk Profile of Shipbuilding yards
Present market conditions
Risk Assessment of Shipbuilding yards
Key learning points from JH 143 surveys
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Claims on the rise vs Increasing premiums
Vessel current value difficult to assess
Risk assessment of shi ards is becomin o ular
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Questions and Discussions
A master would not considered to A master would not considered to
have sailed the ocean until he has hishave sailed the ocean until he has his
deck washed every seasondeck washed every season
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T H A N K Y O U F O R Y O U R A T T E N T I O N Tang Sau Weng
Managing Director CSL Global - Asia