Page 27: of Maritime Reporter Magazine (March 1992)

Read this page in Pdf, Flash or Html5 edition of March 1992 Maritime Reporter Magazine

March, 1992 101


Circle 302 on Reader Service Card 29 marine underwriters at Lloyd's, the

Joint Hull Committee has intro- duced a structural condition war- ranty that will require owners to carry out a survey of their vessels within a specified time before insur- ance cover can be renewed.

Roger Nixon, chairman of the

Joint Hull Committee, said under- writers can insist on the warranty at their discretion. The panel pro- posed no hard and fast rules about

Ship Gaming, Consolidator

Bonding Legislation

Approved By House

Bills legalizing gambling on U.S. passenger vessels and giving ocean freight consolidators more flexibil- ity in fulfilling bonding requirements were recently sent by the House to the President's desk.

It also approved and sent to the

Senate a bill directing the Maritime

Administration to scrap 116 obso- lete vessels in the national defense reserve cargo fleet under a five-year timetable.

The bill includes a technical change in a 1990 law requiring ocean consolidators, also known as non- vessel operating common carriers or

NVOs, to post $50,000 bonds at the

Federal Maritime Commission.

The gambling amendments allow gaming, which is permitted on for- eign-flag vessels, on U.S.-flag ves- sels in international waters. The

Maritime industry has pushed the provision as a way to increase the number of U.S. cruise vessels and make them competitive with their foreign-registered counterparts.

The reserve fleet scrapping bill requires the scrapping of all of the vessels in the reserve fleet over the next five years—except the 96-ves- sel Ready Reserve Force that is kept in quick activation status for mili- tary supply operation status for mili- tary supply operations in the early stages of a war or emergency.

Scrapping those vessels will save about $10 million in yearly mainte- nance costs, according to the GAO, and their sale for scrap could gener- ate $38 million to $42 million to improve the ready reserve fleet.

Ten Members Added

To Oil Spill Group of risky commercial ships and on de- priving some of them of hull insur- ance.

Coming in the wake of the worst year for casualties for bulk and com- bination carriers, this strategy is part of a plan to be phased in by members of the Institute of London Underwrit- ers (ILU) and Lloyd's of London, the institutions that comprise most of the worldwide marine insurance market.

Representing both the institute and when an owner might be asked to con- duct the extra survey.

Mr.Nixon said tankers and bulk carriers more than 12 years old prob- ably should undergo the new inspec- tion. He advised insurers to check all vessels more than 15 years old.

The ILU, meanwhile, warned that double-hull tankers probably will be liable to higher insurance premiums because of the dangers of gas building up between the two hulls.



A group of energy and transport companies established to fund a nationwide oil-spill response net- work, the Marine Preservation As- sociation, said 10 companies joined the organization since December, bringing total membership to 37.

The group also said it would in- crease its funding for the Washing- ton-based Marine Spill Response

Corp. to $400 million up from $270 million in grants pledged by last summer.

The 10 new members announced are: Citgo Petroleum Corp.; Crown

Central Petroleum Corp.; Clark Oil & Refining Corp.; First United Ship- ping Corp.; Koch Industries Inc.;

Melbury Shipping Co.; Silverton

Shipping Co.; Overseas Shipholding

Group Inc.; Pacific Gas & Electric

Co; and Total Oil Inc.

Inspection Crackdown

Planned By Ship Insurers

Many international marine in- surers, faced with mounting losses, have decided on closer inspections


Voith Schneider America Inc. (Eli Shaprut) 121 Susquehanna Avenue

Great Neck, N.Y. 11021

Telephone: 5 16-4 66 57 55

Fax: 5 16-4 66 53 80


Diamond Canapower Ltd.

P.O. Box 5051,1122 Pioneer Rd.

Burlington, Ontario L7R 4 A7

Telephone: 416-3 35 03 21

Fax: 4 16-3 32 63 99

J.M. Voith GmbH

Marine Engineering Division

Postfach 19 40

D-7920 Heidenheim

Tel. (0 73 21) 37-0

Fax (0 73 21) 37-71 05



Depend on Voith for more reliability and safety in ports and harbours.

Voith Water Tractor

Voith Water Tractor: the ideal shiphandling tug - for today and tomorrow.

Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.