megayacht market atlantic brokers Richard Adler
May 20

Watch our Video update on the state of the Megayacht H&M market

Posted by Richard Adler

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Marta Millán
Apr 13

The Megayacht market: Increased scrutiny from H&M Underwriters when it comes to maintenance and yard works performed by subcontractors

Posted by Marta Millán

The Megayacht market: Increased scrutiny from H&M Underwriters when it comes to maintenance and yard works performed by subcontractors It is common practice to find a clause in Hull & Machinery policies that states that coverage will remain in full force during routine maintenance and the annual refit. Notwithstanding the foregoing it is…

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Mar 2

Bulletin 1126 – 03/17 – Stevedores Strike Action Spanish Ports

Posted by atlantic brokers

Further to the Spanish Government passing the Stevedores Port Law reform last Friday, 24 Feb 17, the Club has learnt of the following strikes to be called by Spanish stevedores at all Spanish Ports. Stevedores of the main Spanish Ports have called 9 days of partial strikes from 06 Mar 17 onwards the…

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Feb 17

STOPIA 2006 (AS AMENDED 2017) AND TOPIA 2006 (AS AMENDED 2017) – 2017 AMENDMENTS

Posted by atlantic brokers

OUTLINE • STOPIA and TOPIA have had their 10 years’ period review with participation of ship and oil cargo interests. • The IG, in conjunction with ICS and Intertanko, has decided not to adjust the financial burden under the two Agreements on this occasion. • Two changes have been agreed: (i) to address…

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Feb 7

Bulletin 1124 – 02/17 – Ice Campaign within Azov Sea

Posted by atlantic brokers

The Club has recently been informed that the Ice Campaign within the Azov Sea has come into force as of 3rd February 2017. Member’s attention is to be drawn to the below advice from our local correspondent. The Mariupol port Harbour masters order No 21 dated 02.02.2017 Ice Campaign within Azov Sea came…

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Feb 1

SPECIAL WAR RISKS P&I EXCESS COVER AND BIO-CHEM COVER AND US TERRORISM RISK INSURANCE ACT OF 2002, AS AMENDED BY THE TERRORISM RISK INSURANCE PROGRAM REAUTHORIZATION ACT OF 2015

Posted by atlantic brokers

OUTLINE • Limit on Special War Risks P&I cover for 2017 policy year remains US$500 million. • “Bio-Chem” exclusion remains, and a supplementary cover for “Bio-Chem” risks in respect of crew and legal costs limited at US$30 million continues to be available. • A portion of these covers is provided in accordance with…

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Jan 25

Bulletin 1123 – 01/17 – New Email Scam Payment Diversion Fraud – Worldwide

Posted by atlantic brokers

It has come to the Club’s attention that there is a new email scam looking to obtain funds by fraudulent payment diversion. Members are reminded of the importance of properly scrutinising emails and addresses before replying. Emails have been received purporting to be from ships or owners asking to verify fund transfers, to…

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Jan 16

Club Circular 1/17 – INTERNATIONAL CONVENTION FOR THE CONTROL AND MANAGEMENT OF SHIPS’ BALLAST WATER AND SEDIMENTS, 2004 AND US BALLAST WATER MANAGEMENT (BWM) REGULATIONS

Posted by atlantic brokers

OUTLINE • The Ballast Water Management Convention 2004 will enter into force on 8 September 2017. • The International Group has prepared an update and guidance on compliance with this Convention and with US BWM Regulations. • Further updates and guidance will be provided as and when necessary. TO THE MEMBERS Background The…

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Jan 5

Club Circular 21/16 – SPECIAL GENERAL MEETING OF THE UNITED KINGDOM MUTUAL STEAM SHIP ASSURANCE ASSOCIATION (BERMUDA) LIMITED PROPOSED AMENDMENTS TO RULES AND DIRECTORS’ REMUNERATION

Posted by atlantic brokers

OUTLINE • A Special General Meeting of The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited (UKB) will be held on 19th January 2017 in Bermuda. • Papers for the meeting are enclosed. ACTION • Members should ensure their completed proxy form is sent to the Secretary to arrive no later than…

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Dec 20

Bulletin 1122 – 12/16 – Economic Instability – Venezuela

Posted by atlantic brokers

The Club has been informed of a number of National Governments advising their citizens about unrest in Venezuela. Due to the economic instability in Venezuela a number of countries including, China, England, France & USA have warned their citizens about unrest on the streets of Venezuela due to the economic instability of the…

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