loss prevention through risk management -...
TRANSCRIPT
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Loss Prevention through Risk Management
Tang Sau WengTang Sau Weng8 Sept 20118 Sept 2011
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Agenda
> Introductions
> Present market conditions
> Loss Prevention
> Damages survey
C l i> Conclusions
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CSL - Global Services
PROJECTS
• Warranty surveys for the international insurance markets on large
RISK CONTROL – Loss prevention
• Risk control reviews ginfrastructure development projects.
– Power generation– Petrochemical – Oil & Gas
• Location reviews• Load, stow & securing surveys • Vessel outturn inspection & control• Supply chain – risk analysis, risk
– Heavy Industry• Load, discharge & route /
transportation consultancy • Management of whole project on a
pp y ymonitoring
• Port risk assessments• Car accounts – transit & storage
global basis
TECHNICAL SERVICES
Hull & Machinery + lay ups MARINE CLAIMS• Hull & Machinery + lay ups• P&I surveys• Shipyard risk assessment• Marine casualty
• Surveys & investigations• Loss adjusting • Claims management
Thi d P t Ad i i t ti (TPA)• Vessel condition surveys• Tug & tow• Super yachts• Marine risk consultancy
• Third Party Administration (TPA)• Recoveries• Freight liability & general marine
liability• Marine risk consultancy• Expert witness
• Specie, including Cash in Transit• Theft & fraud investigations
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CSL Global Ltdl i @ l l b [email protected]
Leading Providers of Marine & Transportation Risk Services
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CSL Global offices
Saint Petersburg
Helsinki
Los
New YorkBaltimore
CincinnatiSpringfield
MinneapolisSeattlePortland
London
Busan Tokyo
Rotterdam
Petersburg
Milan
Madrid
Algiers
TorontoVancouver
Angeles
HoustonNew Orleans
Mumbai
Caracas
Mexico City Bangkok
DubaiMiami
Alexandria
Panama
Lima
SingaporeBogota
Manaus
Lagos
Mombasa
Sao Paulo
SantiagoBuenos
Aires
Vitoria
Cape Town
Perth
Maputo
Puertto Montt
o
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Agenda
> Introductions
> Present market conditions
> Loss Prevention
> Damages survey
C l i> Conclusions
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Present market condition(Newbuilding orderbook vs Existing Fleet)
Container (TEUs) Existing Orderbook Charter Rate
(Newbuilding orderbook vs Existing Fleet)Source : Clarksons
Container (TEUs) Existing Orderbook Charter Rate8000+ 318 251 $18k++3500-8000 500 145 $16k1000-3000 2933 183 $8k$<1000 1240 42 $6k
Bulk carrier (DWT) Existing Orderbook Charter RateCapesize 1188 630 $12kPanamax 1833 944 $10kHandymax 2200 800 $8kHandymax 2200 800 $8kHandysize 3000 800 $6k
Crude Tanker (DWT) Existing Orderbook Charter RateVLCC 548 179 $25kSuezmax 418 150 $20k
Page 821 September 2011
Aframax 880 135 $14kPanamax 400 80 $12k
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Present Market Conditions
• Orderbook Global (as of 30th June 2011)( )
7,044 vessels / 450,000,000 dwtTotal value : US$ 350 000 000 000Total value : US$ 350,000,000,000
• Orderbook Asia (as of 30th June 2011)( )
6,150 vessels / 420,000,000 dwtTotal value : US$ 300 000 000 000Total value : US$ 300,000,000,000
• Orderbook China (as of 30th June 2011)( )
2,880 vessels / 205,000,000 dwtTotal value : US$ 120 000 000 000Total value : US$ 120,000,000,000
Source : Clarksons
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Newbuilding PricesNewbuilding PricesSource : Tradewinds
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Present Market Conditions - Orderbook by country of build
250,000,000
200,000,000
Ro-Ro Bulker Tanker
Container Dry Cargo
150,000,000
dwt
50,000,000
100,000,000
0China South Korea Japan Philippines Vietnam India Brazil Turkey Romania
Source : LR Fairplay
Country of build
p y
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Some top shipyards in the WorldShipyard name Ships delivered
(no. /DWT)
1. Hyundai HI 68 (8.6m)2 Daewoo 67 (10m) 2. Daewoo 67 (10m) 3. Samsung HI 52 (5.4m)4. Hyundai MIPO 60 (2.3m)5. STX 48 (3.6m)6. Dalian 38 (5.8m)7. Jiangsu Rongsheng 19 (2.8m)7. Jiangsu Rongsheng 19 (2.8m)30. Tsuneishi 22 (2.0m)100. Imabari 20 (1.0m)130 Mit bi hi 14 (0 6 )130. Mitsubishi 14 (0.6m)140. Hyundai Vinashin 7 (0.3m)150. Bulyard Bulgaria 3 (55k)y g ( )
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Agenda
> Introductions
> Present market conditions
> Loss Prevention
> Damages survey
C l i> Conclusions
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Is Risk Management = Surveys ?
• Classification Surveys
• P&I Clubs surveysP&I Clubs surveys
• Charterers surveys / Oil Major surveys
• Flag State Surveys, Port State Surveysg y , y
• Pre Purchase Surveys
• Valuation Surveysy
• ISM / ISPS / ISO 9000 / ISO 14000/ ISO 18000 / ISO 23000 /ISO 28000
• Towage/Voyage approval
• JH143
• JH 2006 (10A/B/C/D)
• JH 2009
• JH 722 / 112
• Ports & Terminal
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What is actually What is actually
Risk
Management
- Cargo- Cargo
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What is actually What is actually
Risk
Management
- Large Cargo- Large Cargo
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R
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R
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R
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Large Cargo for Complex Projectsg g p j
• Identification of Critical items
• Method statementsHow? Where? When? Who? What?
• Stowage & Lashing plans
• Communications & Coordination
• Accumulation of Risks• Accumulation of Risks
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Risk Management - Towage
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Risk Management - Towage
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Risk Management - Towage
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Risk Management - Towage
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Towageg
• Towage PlanTowage PlanHow? Where? When? Who? What?
Wh t i i l d C ($$$) b ll t• What is involved – Cargo ($$$) or ballast
• Equipment & Gears usedq p
• Crew competency
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Risk Management - Shipyards
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Typical Risk – some examples
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Typical Risk – some examples
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Typical Risk – some examples
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Typical Risk – some examples
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Typical Risk – some examples
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Typical Risk – some examples
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Risk management of Shipbuilding Yards (JH 143)( ) Geographical and environmental risks
General housekeeping
Management of sub contractorsManagement of sub contractors
Fire prevention
Commitment to security
C it t t f t Commitment to safety
Quality assurancey
Top management involvement
21 September 2011
Accumulation of Risks
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What is JH 143 Risk Assessment ?
• Introduced in 2003 by the Joint Hull Committee at Lloyd’s LondonLondon
• A survey of the shipyard before constructiont l t th hi d- to evaluate the shipyard
• Surveys to be carried out by independent partiesy y p p
• All the surveyors recommendations to be implemented by shipyards before insurance coverageshipyards before insurance coverage
• Shipyards are graded according to the findings
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Benefits of Risk Managementg
• Management of the processes and its Management of the processes and its associated hazard
• Specific risk factors identified, understood and controlled
• Central coordination point for risk analysis
• Improve communications
• Job gets done effectively
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Agenda
> Introductions
> Present market conditions
> Loss Prevention
> Damages survey
C l i> Conclusions
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After a CollisionAfter a Collision
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What if things really go wrong -Emergency response scenarios
If there is a lost or damaged ……
First priority is to ascertain if equipment can berepaired (and if so, where, by who and how long) and/or replaced or if the project can be re-engineered.
Availability of replacement equipment depends lti l i i d i l
y p q p pon multiple engineering and commercial considerations.
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Suggestions for handling future claims Where the damaged has occurred, a suitably qualified surveyor
to be engaged and preferably before any repairs
Surveyors to have full access of the records onboard including log books, maintenance records, damage report, etc
Underwriters should instruct and pay the surveyors directly to avoid any conflict of interest
Surveyors should be given the autonomy to attend invoice negotiations at the end of the repairs
Where possible, an alternative quotations to be sought by the assured prior to repairs
Constant communication between underwriters or brokers with the surveyor
21 September 2011
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Technical know-howTechnical know-how
Master Mariners naval architects engineers Master Mariners, naval architects, engineers, road transport consultants …. or a “professional” photographer ?
Preparation is everything. Knowledge of equipment capabilities, certification and attention to details.
The sharing of knowledge and The sharing of knowledge and
experience is crucial to doing a good
job today and a good job tomorrowjob today and a good job tomorrow.
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Quiz time :Quiz time :
> Why is Loss Prevention SO important ?Protects insurers, assured and assets
> What is a Critical Items in Project CargoExpensive to replace, big, heavy, out of shape, etc
> What is the acceptable grading in JH 143?C
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Quiz time :Quiz time :
> What is the no. 1 RISK in all shipbuilding yards ?FIREFIRE
> When you think about loss prevention, what is the first thing you should be thinking about ?you should be thinking about ?
How? When? Where? What? Who?or CSL Globalor CSL Global
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ConclusionsConclusionsConclusionsConclusions Loss Prevention = Risk ManagementLoss Prevention = Risk Management Loss Prevention = Risk ManagementLoss Prevention = Risk Management
=> More than just surveys=> More than just surveys
Communication is the keyCommunication is the key
Selection of right professionals will help youSelection of right professionals will help you
It is a TEAM effortIt is a TEAM effortt s a e o tt s a e o t
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Loss Prevention through Risk ManagementThank you for your attention …谢谢您 !
Tang Sau WengTang Sau WengMD MD –– CSL Marine AsiaCSL Marine Asia
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