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
Groke brings new situation awareness expertise to One Sea
(Posted on 24/03/23)One Sea has welcomeed Finnish start-up Groke Technologies as its new member, bringing additional expertise... Read more
ClassNK releases FAQs on EU-ETS for shipping
(Posted on 24/03/23)ClassNK has released “FAQs on the EU-ETS for Shipping”, an overview and necessary preparation... Read more
New AXSMarine tool helps users visualize CO2 emissions and CII
(Posted on 20/03/23)AXSMarine, a pioneer and market leader in the provision of advanced solutions for shipping professionals... Read more
Shipzero advances the decarbonization of logistics
(Posted on 20/03/23)Shipzero is enabling transport and logistics companies to create transparency about their emissions... Read more
Isle of Man Ship Registry joins INTERCARGO
(Posted on 07/03/23)The Isle of Man Ship Registry (IOMSR) has become an associate member of The International Association... Read more
More investment into crews’ health and nutrition says MCTC
(Posted on 07/03/23)The wellbeing of crew members is becoming more important to shipping companies says leading catering... Read more
Strong demand and diversified vessel portfolio fuels strong Algoma performance
(Posted on 28/02/23)Canada based Algoma Central Corporation has reported its results for the year ended 31 December, 2022... Read more
Ukrainian seafarers back, but many have suffered trauma
(Posted on 24/02/23)Ukrainian seafarers have largely returned to international shipping thereby restoring balance in crew... Read more
Round Table prioritises seafarers at first in-person meeting since COVID
(Posted on 24/02/23)The Chairs of the Round Table of International Shipping Associations met in Athens last week to renew... Read more
AXSMarine invests in Nextvoyage
(Posted on 21/02/23)AXSMarine, a leading provider of SaaS shipping software and data for decision making in the chartering... Read more
