Easy does it says Swedish Club
(Posted on 04/07/18)
The Swedish Club has warned that vessel operators should always look to the long term, when specifying the type of engines to be installed across the fleet. Latest statistics from the Club show that vessels propelled by medium/high speed engines have a claims frequency 2.5 times higher than slow speed engines, with an average claims cost of close to USD 650,000.
Main Engine Damage, the latest loss prevention report from The Swedish Club, sheds light on an expensive category of damage that is all too frequent. Statistically a vessel will suffer between one and two incidences of main engine damage during its life time. Considering the costly consequences for ship owners and their hull insurers, it is important to identify the main causes of this damage and examine how these can be prevented.
The publication also includes loss prevention advice from the major engine manufacturers, MAN Engines and Wärtsilä.
Peter Stålberg, Senior Technical Advisor explains: “Our investigation shows that bulkers and tankers are the best performers for claims cost in comparison with Club entry. Most of these vessels have slow speed engines. Conversely passenger vessels/ferries have the highest frequency of main engine claims – 0.066 claims per vessel and year. Often these vessels have multiple medium speed engine installations. The same is also true for Ro-ro vessels.
“When there is a choice to be made between a slow speed engine and a medium/high speed engine, the Club’s experience demonstrates that the slow speed engine is the safer option, when you balance the space saving advantages of the medium/high speed engine against the increased costs of running the vessel in its lifetime. In addition, not only is the claims frequency of medium/high speed engines higher, but they also have a disproportionate claims cost (43%) in relation to insured vessels (28%).”
Lubrication failure is still the most expensive and frequent cause of damage, followed by incorrect maintenance and/or repairs.
Latest News
Questionnaires simplified
(Posted on 18/09/19)AXSMarine, a pioneer and market leader in the provision of advanced solutions for shipping professionals... Read more
New Baltic index launched
(Posted on 18/09/19)The Baltic Exchange has launched a new assessment to track the cost of operating vessels. Initially... Read more
West of England’s 50 years in Greece
(Posted on 18/09/19)The West of England, a leading mutual marine insurer, has celebrated the 50th Anniversary of its Greek... Read more
25 years young
(Posted on 10/09/19)Fleet Management Ltd, one of the world's largest independent third-party ship management companies,... Read more
Misuga migrates Dutch bulkers to Sealink VSAT
(Posted on 10/09/19)Rotterdam based ship management company Misuga Kaiun Holland B.V. has chosen Marlink to provision cost... Read more
Clipper adds handysizes
(Posted on 10/09/19)Clipper Bulk, in close collaboration with a financial partner, has acquired three Handysize dry cargo... Read more
Columbia discusses the Ship Manager of the Future
(Posted on 10/09/19)A vision of the Ship Manager of the Future and the way ship management companies will interact with... Read more
IRClass takes over IACS Chairmanship
(Posted on 10/09/19)Arun Sharma, Executive Chairman of the Indian Register of Shipping (IRClass), has been formally introduced... Read more
ClassNK’s expert cyber security team
(Posted on 10/09/19)Leading Classification Society ClassNK has established a cross-sectional cyber security project team... Read more
Fednav’s hometown commitment
(Posted on 03/09/19)Fednav Limited has taken delivery of the Federal Montreal, its newest Great Lakes-suitable handysize... Read more
