This year's Annual Review reports strong financial results, continued strategic progress and enhanced support for shipowners operating in an increasingly complex and uncertain global environment.
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The IMO’s strategy is to reach net-zero on or around 2050. Associated with this, there is an on-going debate in shipping circles, including the marine insurance sector, regarding the adoption of alternative low carbon or zero carbon fuels that will be required if the industry is going to collectively achieve the IMO goals.
The issues are complex and present shipowners with difficult decisions to take over the coming years, but also opportunities. These necessarily will involve long term strategy considerations regarding which technologies to adopt in an environment where much is still at the R&D stage in terms of ship/engine design, and significant unknowns remain around the future availability and suitability of fuels such as hydrogen, ammonia, and methanol.
To assist with developing internal knowledge and expertise to enable us to support our Members through the transition, we've established an internal Navigating Decarbonisation Expertise Group (NDEG).
The NDEG comprises individuals from the Loss Prevention, Claims, FD&D, Underwriting, and Risk Teams. Work streams underway include establishing guidance and Q&A documents; understanding individual members’ intentions concerning alternative fuels through survey and discussion; recording queries on alternative fuel issues logged by members; collating external reports and key documents; assessing claims trends and emerging risks; and liaising with third party stakeholders including the International Group of P&I Clubs.
The NorthStandard Clean Air Network (NS-CAN) has been established to act as a resource to the Expertise Group and a forum through which to share ideas and experience. Members of the panel include representatives from key industry bodies, national shipping associations, engine manufacturers, marine educational institutions, maritime law firms, other marine experts and NorthStandard's own membership.
Ampol - Rajiv Kalra
Ampol - Capt. Hemant Berry
Ampol - Russell Savage
Anglo Eastern - Prasad Nayak
Brookes Bell - John Gibson
CMC Marine - Richard Freemantle
Foreship UK – Jan-Erik Räsänen
Foreship UK – Shaun White
FueLNG - Saunak RAI
GCMD - Wei Jie Lau
Global Physical Operations - Michael Green
HFW - Alessio Sbraga
HFW - Johanna Ohlman
ICS Shipping - Chris Waddington
ICS Shipping - Sunil Krishnakumar
Intercargo - Ed Wroe
Intertanko - Alimi Shahrul
Intertanko - Mahyar Jokhi
Intertanko - Younes Alouani
ITOPF - Andrew Lemasurier
ITOPF - Rachel Rayne
Kumiai Navigation – Juluies Lee
Lloyds Register - James Forsdyke
Lloyds Register - Shane Balani
LT Environmental - Lisa Lewis
Maritime Industry Australia Limited - Angela Gillham
Minerva Marine - Vaia Hatziyianni
PO Ferries - Cris Crossley
Rix Shipping - Nick Allen
Singapore Shipping Association - Michael Phoon
Singapore Shipping Association - Wong Shu Yi
Solent University - Nadeem Anwaram
Swire Bulk - Susana Germino
Union of Greek Shipowners - Elias Sampatakakis
WinGD - Roger Specker