Malaysia Says MH370 Search Must Go On
filed a lawsuit in China demanding compensation over the plane's disappearance.A Beijing court began compensation hearings in November.More than 150 Chinese passengers were on the flight, with relatives demanding compensation from Malaysia Airlines, Boeing, aircraft engine maker Rolls-Royce and the Allianz insurance group among others.(Reuters - Reporting by Danial Azhar and Mandy Leong; Editing by Nick Macfie
Construction Starts on First UK-German Power Link Project
," said Miguel Berger, the German ambassador to the UK. "It is the largest Anglo-German infrastructure project and will enable us to share excess power – preventing renewable energy from being wasted." The project is financed by France's Meridiam, Germany's Allianz Capital Partners and Japan's Kansai Electric Power with a consortium of more than 20 banks and financial institutions, including the UK Infrastructure Bank and the European Investment Bank.NeuConnect, which obtained the financial green light in July 2022, will construct new converter stations
First UK-Germany Power Link Gets Financial Green Light
invasion of Ukraine shows it is more important than ever that we strengthen close energy bonds with European partners who are rapidly moving away from using Russian gas," British Energy and Climate Change Minister Greg Hands said.The project is financed by France's Meridiam, Germany's Allianz Capital Partners and Japan's Kansai Electric Power 9503.T with a consortium of more than 20 banks and financial institutions, including the UK Infrastructure Bank and the European Investment Bank (EIB).Ambroise Fayolle, vice-president at the EIB, which is set to contribute up to 400 million
Drones Will Take Off for Shipping, Says Allianz
Unmanned systems are finding a growing number of applications in the maritime sector, and have the potential to make a significant contribution to safety and risk management, says the Allianz Global Corporate & Specialty's (AGCS) Safety and Shipping Review 2018.These include assessing environmental pollution, monitoring cargo loading and pirate activity along coastlines and carrying out cargo tank inspections. Drones could enable faster, more informed decisionmaking on board, reducing the impact of any incident. A number of companies are developing drones for sea-based search and rescue
Cyber-Attacks New Threats for Maritime Sector
Inadequate protection against cyber risks is becoming a major threat to the maritime sector, increasingly interconnected and dependent from automation. Ports and ships have become target of hackers. Allianz Global Corporate & Specialty (AGCS) says that cyber risks a growing concern in shipping sector, particularly around e-navigation. The IT risk is now beginning in this area, but soon ports and ships could become attractive targets for hackers, says Captain Rahul Khanna, Global Head of Alliance Marine Risk Consulting (AGCS). Companies must simulate these potential
Disasters at Sea & Their Impact on Shipping Regulation
a proposed safety change through the IMO process of member state committees and debate, IMO acceptance and individual government approvals, followed by typically phased-in enactment, the process works. Figures from multiple sources, including the “Safety and Shipping 1912-2012” report from Allianz Global Corporate & Specialty, the International Union of Marine Insurance, and the 2012 report, “15 Years of Shipping Accidents : A Review for WWF,” from Southampton Solent University, show that the incidence of Marine accidents is significantly down, and has been trending
What Goes Down ...
, if for no other reason due to the random nature of the business (though if you read Joseph Fonseca’s article “The Salvage Bonanza” on the previous pages, perhaps it is not always unpredictable.) To help add perspective to the business, we present here the recent study from Allianz Global Corporate & Specialty’s Safety and Shipping Review 2013 which focuses on key developments in maritime safety during 2012, and analyzes reported shipping losses (of over 100 gross tons) during the 12 months prior to 25 November 2012. The recently released statistics and analysis
February 2024
