Asia Pacific waters remain the top shipping casualty region accounting for 45% of losses globally in 2018, according to a latest review by insurer Allianz Global Corporate & Specialty (AGCS).
The navigation systems on your vessel shutdown or malfunction at a critical time due to a cyber event and it crashes into the wharf leaving a huge gash in the hull. It’s a nightmare scenario that is becoming all too real in the interconnected world and could leave the shipowner with a costly repair bill, and loss of hire to boot.
The discharge of undamaged containers from the fire hit Yantian Express has started in the Port of Halifax, Nova Scotia and is expected to take at least 12 days.
The Yantian Express is expected to to start discharging undamaged containers in the port of Halifax, Nova Scotia over four and half months after it was hit with cargo fire in the Atlantic while sailing to the Canadian port.
The fire damaged containership Yantian Express is expected to arrive in Halifax, Nova Scotia on 19 May, over four and a half months after it was originally due to call at the Canadian port.
An American Institute of Marine Underwriters (AIMU) seminar brought into the focus the growing risks associated with mega-containerships in the event of casualty and the huge number of cargo interests involved.
General Average and Salvage security is yet to be posted on one third of the undamaged containers onboard the Yantian Express which suffered a cargo fire on 3 January.
Despite salvors having offloading all the fire damaged containers from the containership Yantian Express vessel remains in Freeport, Bahamas, as some shippers have not posted General Average and Salvage security for undamaged containers.