Liberian Registry strengthens Asia team to meet growing demand

The Liberian Registry has announced strategic new appointments in a number of key areas within the Asian regional offices operated by its US-based manager, the Liberian International Ship & Corporate Registry (LISCR).

Ms. Wan Ching Chiang has been promoted to Registrations Manager for the Liberian Registry in Singapore. Ms. Chiang is embarking on her fifth year with the Liberian Registry, which she joined as Registrations and Corporate Co-ordinator. In her new role, Ms. Chiang will be overseeing vessel mortgage and corporate registrations for the Liberian Registry’s fast- growing number of South-East Asian clients. Ms. Chiang graduated with a Bachelor of Science degree in Business Administration and has previous experience with working in the financial industry with both HSBC and Barclays Capital.

The Liberian Registry’s Greater China team has been bolstered by the additions of Mr. Pao Chi Hsu and Mr. Owen Fu as Technical Managers. Mr. Hsu, who holds a Master’s Degree in Ocean Engineering, has previously worked as a lead class surveyor in the Greater China region and as a vessel superintendent for a leading bulk carrier owner. Mr. Fu is taking on this new challenge following a successful career as a leading port state control officer and department head for China’s Maritime and Safety Administration in the port of Ningbo. Mr. Fu obtained his Master’s Degree in Naval Architecture from Shanghai Jiaotong University, and his Ph.D. in Engineering from Shanghai Maritime University. Mr. Hsu’s and Mr. Fu’s expertise with vessel compliance, audits and port state support has played a critical role in significantly reducing the number of detentions of Liberian-flagged vessels in the Tokyo MoU region.

LISCR CEO Scott Bergeron says, “The Liberian Registry has experienced tremendous growth in Asia over a number of years. Most recently, that growth has accelerated following the historic Agreement on Maritime Transport between the People’s Republic of China (PRC) and the Republic of Liberia, under which Liberian-flag vessels will be charged a preferential rate for tonnage dues when visiting any port in China.

“The Liberian Registry is committed to expanding its network of professionals to meet increasing demand, providing expertise and advice when and where it is needed, and adding to our core strength of offering timely, informed and innovative service to our continually expanding client base.

“Asia is a vibrant and vital hub in the worldwide shipping chain, and increasing numbers of owners from the region are putting their trust – and their ships – in the Liberian Registry. These recent executive appointments confirm our commitment to providing the best service available to shipowners, operators and managers anywhere in the market today.”

The Liberian Registry has long been considered the world’s most technologically advanced maritime administration. It has a long-established track record of combining the highest standards of safety for vessels and crews with the highest levels of responsive service to owners. Moreover, it has a well-deserved reputation for supporting international legislation designed to maintain and improve the safety and effectiveness of the shipping industry and protection of the marine environment.

www.liscr.com

Seacurus launches new South-East Asian petro-piracy cover

Specialist marine insurance intermediary Seacurus has developed a petro-piracy endorsement which can be added to existing Kidnap & Ransom (KR) insurance cover in response to the evolving threats to ships, their cargoes and crews when transiting the South China Sea, Malacca Straits, Indonesian Archipelago and Gulf of Guinea.

According to recent figures published by the International Maritime Bureau, South-East Asia accounted for three-quarters of global maritime piracy last year after a surge in tanker hijackings helped to fuel a 22 per cent jump in armed robbery and pirate attacks on ships in the region. There were 183 actual and attempted incidents of piracy and robbery involving ships in South-East Asian waters last year, compared to 150 in 2013. In the Gulf of Guinea, meanwhile, cargo theft is likely to remain on the agenda of Nigeria-based criminal gangs throughout 2015.

Denis Nifontov, Head of Marine K&R at Seacurus, says, “The criminal reach demonstrated by last year’s hijack of the tanker Kerala, coupled with the number of successful and attempted attacks in 2014 and the lack of any evidence that such gangs have been neutralised, suggests that further attempts at cargo theft will take place in 2015 across the region. Seacurus has recognised the need for traditional marine K&R cover to evolve to provide all interested parties with assurance that every eventuality is covered.

“The modus operandi of South-East Asian and Gulf of Guinea criminal gangs differs from the Somalian piracy model. Ships’ crews are regularly exposed to life-threatening situations as criminals take control of and ransack vessels, stealing valuable petro-chemical cargoes for commercial gain.”

The new cover from Seacurus recognises the need to protect crews against the potential for a kidnapping situation, and ship and cargo owners against the risk of business interruption and property theft. In addition to the benefits of a $1m marine K&R policy, the cover includes as standard such additional benefits as loss of hire ($500,000), loss or theft of cargo ($500,000), loss of bunkers ($250,000), and loss or theft of money ($50,000) - all within an aggregate policy limit of $5m.

Denis Nifontov says, “Given that, by its very nature, criminal activity is unpredictable, Seacurus believes that, for a small additional voyage cost, cover can be arranged to give all parties to the maritime adventure peace of mind that their interests are insured. Shipowners, charterers and cargo interests (who can be added to the policy as co-insureds to cover their own interests in the voyage), can buy $5m of cover for a seven-day voyage for a typical premium cost of $1,250, subject to an assessment of the usual underwriting information. In this way, all parties can protect their standard marine insurances and insurance records from the potential for costly claims, whilst negating the need for costly and time-consuming recovery actions and General Average settlements.”

Seacurus Ltd is an FCA-regulated insurance broker, founded in 2004, specialising in bespoke revenue protection cover for the maritime industry. It is a market leader in the design and implementation of solutions to protect companies from unforecasted balance-sheet impacts, including credit default, charter party cancellations, hijackings and voyage disruptions caused by political events. Seacurus established the first delegated underwriting binding authority for marine kidnap insurance and is an approved Lloyd’s Coverholder. www.seacurus.com


Formed in 2007, Barbican Group Holdings is an insurance group writing business predominantly through its syndicates at Lloyd’s. It also has a non-Lloyd’s financial solutions business based in Guernsey which offers insurance and reinsurance programmes to the global market. Barbican Syndicates 1955 and 6113 at Lloyd’s has a stamp capacity of £227.5m for the 2013 year of account and underwrites cyber liability, financial and professional lines, healthcare liability, international casualty reinsurance, marine insurance, marine reinsurance, North American casualty reinsurance, property, property reinsurance and corporate, middle market and scheme/affinity group clients in the UK and Ireland. www.barbicaninsurance.com



For more information:
Denis Nifontov
Seacurus Limited
Tel: +44 20 7082 1955
email: dnifontov@seacurus.com