With the publication of the first Britannia sustainability report, the P&I Club is defining the starting position of its sustainability initiative and roadmap for the future. The report outlines how Britannia P&I is embedding the management of climate related risk into its business strategy and integrating sustainability into its core processes.
Climate change represents a material financial risk to all regulated firms and the financial system. Britannia P&I, as an insurer, is equally exposed to this risk. However, sustainability encompasses not only climate change but also informs a company’s overall approach to improving corporate social behaviour and demands sound corporate governance. The Britannia sustainability report seeks to apply environmental, social and governance (ESG) concepts to all the strategic choices and operations of the Club. Continue reading “Britannia sustainability report published for the first time”
For centuries the great port cities analysed in the recent Xinhua-Baltic International Shipping Centre Development Index report were built on the confluence of trade, people and ideas. Centred around ships and the presence of their owners, managers and charterers, maritime clusters steadily grew across Europe, Asia and the Americas. A combination of talent, time-zone, geography, expertise and government policies has helped locations such as Singapore, London and Shanghai thrive. Successful clusters combine the experience and size of established companies with the energy and drive of smaller and start-up firms. Collectively they have consistently delivered innovation, jobs and tax receipts.
As part of its recently launched casebook series giving safety lessons learned from maritime incidents, the Swedish Club describes a case of multiple explosions onboard a bulk carrier caused by cargo fumigation. A bulk carrier had loaded yellow corn in all cargo holds up to the hatch coamings. After the loading was complete fumigation technicians came onboard and fumigated the cargo with fumitoxin pellets. As per the cargo documentation, the fumigation pellets were required to be applied subsurface.
As part of its BSafe campaign, the Britannia P&I Club describes a fatality of an electrician from electrocution, while performing maintenance of the inert gas scrubber electrical system whilst onboard an oil tanker. The electrician had been working alone at the time. Before starting work in the morning on the day of the incident, the second engineer (2/E) held a Toolbox Talk to discuss the work planned for that day. The electrician mentioned he might work on the inert gas (IG) scrubber pump starter panel, but he did not specify the items to be completed, nor the timeframe for the work. No formal risk assessment, permit to work (PTW) or Lock Out/Tag Out (LOTO) procedure were completed, despite all being specifically required by the SMS.