Beruflich Dokumente
Kultur Dokumente
NIKITA DALMIA 201089 NITIN GANDHI 201096 PRATEEK JAIN 201107 RAKESH MALHOTRA 201117
Over 90% of world trade 50,000 merchant ships trading internationally Bringing benefits for consumers through low and decreasing freight costs
Shipment origination, routing and capacity procurement Customer sales Shipment routing Capacity procurement Billing Tracking
Provide Containers
Inland delivery
Price risk
Country Risk Compliance with foreign regulations and standards Delivery Risk Financial risk( funding risk) Credit risk Political risk License Risk Logistic Risk Poor Quality Risk
Unforeseen Risks(pirates) The risk of a collision Accidents or liability from oil or chemical spillage. Risk of Fire, Theft. Weather disturbances Natural barriers Technical faults Loading and unloading. Spoilage of the cargo due to insects, rats, rodents etc. System Failure
tanker ship.
Bulk CARRIER
Container ships
A layout of the watertight compartments and the damage from the collision The thick black lines below the waterline indicate the approximate locations of the damage to the hull. Water tight compartments, their tops were open and the walls extended only a few feet above the waterline.
Material Failures
(The Hull Steel. Was very brittle tested by charpy test)
Results of the Charpy test for modern steel and Titanic steel. the Titanic steel, On the right, was extremely brittle; it broke in two pieces with little deformation.
Adequate number of life Boats: Adequate number of life jackets: Flexibility of Rules: Negligence of safety norms: Double Hull Vessel: Emphasis on Risk Management:
MARINE INSURANCE
Marine insurance covers the loss or damage of ships, cargo, terminals, and any transport or cargo by which property is transferred, acquired, or held between the points of origin and final destination
HULL INSURANCE
Insurance of vessel and its equipments are included under hull insurance.
TYPES OF VESSEL
General Cargo Vessel Built for specific purpose like car carriers, live stock carriers, log carriers, heavy lift vessels etc.
Dry Bulk carriers Heavy weather damage Liquid Bulk carriers- shorter life, fire & explosion, risk of pollution Passenger vessels fire damage Container vessels loss of containers Offshore Oil and Gas Exploratory units blowout Fishing vessels moral hazard Other vessels like Tugs, Barges, Supply vessels, Yachats etc
Brown waters:- businesses that operate primarily on or near inland and coastal waterways, Blue waters:- denotes ocean-going ships and larger vessels used in international shipping or trade.
CARGO INSURACE
Insurance on goods ,wares ,merchandise and other movable properties which may be exposed to marine hazards or perils during their transportation from one location to another
Liability Insurance
Liability insurance is that type of marine insurance where compensation is sought to be provided to any liability occurring on account of a ship crashing or colliding and on account of any other induced attacks
Freight Insurance
Freight insurance offers and provides protection to merchant vessels corporations which stand a chance of losing money in the form of freight in case the cargo is lost due to the ship meeting with an accident.
This type of marine insurance solves the problem of companies losing money because of a few unprecedented events and accidents occurring.
Mixed Policy
Valued Policy
Wager Policy
Floating Policy
The Titanic took about three years to build and cost $7.5 million to build
One million British pounds in hull insurance coverage through Willis Faber & Co. a brokerage firm that assembled a consortium of insurers who each took a piece of the risk.
One of the major insurers of the Titanic's hull was Atlantic Mutual who held a $100,000 share of responsibility Lloyds of London paid $3,019,400 on the Titanic disaster