TMS Awards 2023TelestackVan AalstViganGeneva DrySailors Society
  • Bühler GmbH
  • Port of South Louisiana
  • TMS Awards 2023
  • Van Aalst
  • Telestack
  • Cimbria

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

Fleet announces strategic leadership transition in its 30th year

(Posted on 22/02/24)

Fleet Management Limited (FLEET), the world’s largest third-party ship management company, has... Read more


OceanScore: Asian shipowners face hefty EU-bound emissions liabilities

(Posted on 22/02/24)

Asian shipowners with vessels sailing to and from Europe are likely to face estimated emissions liabilities... Read more


VIKAND supports V.Ships Greece with mental health training

(Posted on 22/02/24)

VIKAND, the global leader in maritime healthcare, is providing V.Ships Greece with officer training... Read more


RMI Maritime Administrator awards AiP for Anemoi Rotor Sails

(Posted on 14/02/24)

The Republic of the Marshall Islands (RMI) Maritime Administrator has awarded an Approval in Principle... Read more


Ambrey and ISS join to revolutionise maritime safety and security

(Posted on 14/02/24)

Ambrey and Inchcape Shipping Services (ISS) have announce a strategic partnership aimed at transforming... Read more


ShipMoney celebrating 10 years providing digital payment solutions

(Posted on 14/02/24)

Founded in 2013 by Stuart Ostrow, a Florida-based CPA and entrepreneur, ShipMoney set out to challenge... Read more


ClassNK launches shipping and shipbuilding e-learning courses

(Posted on 14/02/24)

ClassNK has introduced E-Learning courses offered through its training and education service, &ldquo... Read more


Top US maritime strategist joins Core Power in Washington

(Posted on 13/02/24)

Robert Bryans, a senior US maritime strategist and systems engineering expert, has joined the growing... Read more


Co-investment for leading dry bulk carrier in Baltic region

(Posted on 11/02/24)

Varma Mutual Pension Insurance Company has agreed to co-invest EUR 15 million alongside OP Finland Infrastructure... Read more


Big hitters endorse InterManager’s new General Principles

(Posted on 11/02/24)

DNV, Lloyd’s Register, and Steamship Mutual have all given their backing to the aims and objectives... Read more


Bühler GmbHPort of South LouisianaPort of StocktonTBA GroupCimbria
  • Port of Stockton
  • TBA Group

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping