The International Union of Marine Insurance (IUMI) has presented its analysis of the latest marine insurance market trends during its annual conference which this year is being held online. Marine underwriting premiums for 2019 were estimated to be USD 28.7 billion which represents a 0.9% reduction from 2018.
The USD 28.7 billion global income was split between these geographic regions: Europe 46.3%, Asia/Pacific 31.8%, Latin America 10.3%, North America 5.3%, Other 6.3%.
2019 saw Europe’s global share reduce slightly from 46.4% (2018) to 46.3% and Asia’s share increase modestly from 30.7% (2018) to 31.8%.
The members of European Boating Industry met for the second yearly General Assembly to discuss the latest industry developments after a turbulent first half of the year for the industry and chart the association’s future positioning. Representing Slovenia, SMIA joins as new full member and IMCI joins as sustaining member, growing European Boating Industry’s network across Europe.
Dutch-German offshore grid operator TenneT is seeking underwater survey services for its offshore platforms. TenneT manages the operations of the German and Dutch high voltage cable connections from land to the offshore wind farms, the so-called grid connection systems. The contract covers the underwater inspections of TenneT’s fixed steel structures in the Dutch and the German North Sea.
The purpose of the surveys is to source the information based on which TenneT will schedule the maintenance of the structures. Besides these scheduled surveys that are part of the maintenance plans, the surveys are also needed in case of unexpected damages or incidents. The contract will have a duration of 36 months, with options for two one-year renewals.
Cockwells Modern & Classic Boatbuilding has acquired Hardy Marine in a deal that will result in the further expansion of this award-winning Cornish company that celebrates its 25th anniversary in 2021. With a heritage spanning four decades, Hardy Marine has earned its reputation for building sturdy, high quality, all-weather motor boats that combine excellent engineering with impressive seakeeping and elegant interiors from its Norfolk base.