This edition of The Intermediary is the first in the Club's new colours. It also features our new logo. The changes reflect ITIC's role as the leading international insurer of transport professionals. We hope you like them.
Loss prevention for Marine Surveyors
With the increasing awareness of the need for surveyors to carry professional indemnity cover, ITIC was asked to speak at the International Institute of Marine Surveyors' Seminar aboard HQS Wellington in April 1998. The paper - “Loss Prevention for Marine Surveyors” delivered by Andrew Webster, concentrated on four main areas which can give rise to claims:-
libel and slander, report writing, taking instructions and inspections.
Claims affect not only the bank balance but also the firm’s reputation with the latter representing the surveyor’s most effective marketing tool.
ITIC Board of Directors
The Club has announced the retirement of Russi Cooper from its Board. Mr. Cooper retired at the meeting in London in September 1997 after more than 12 years as a Director of ITIC (and previously of Transport Intermediaries Mutual). He was presented with an inscribed fountain pen by the Club's Chairman, Paul Vogt. Mr. Cooper had been a ship agent, first with Patvolk and later with J.M. Baxi & Co., for more than forty years, and is an ex-President of the Ship Agents Association of Mumbai and of the Federation of Ship Agents Association of India. He continues to be a member of the Panel of Arbitrators of the Indian Council of Arbitration and acts as a consultant to the Club's Mumbai correspondents.
Singapore Board Meeting
The ITIC Board met in Singapore on 21st April, 1998. The agenda included a number of important topics such as the ISM Code and the Year 2000 problem. A reception was held the same evening for Members, brokers and other representatives of the Singapore shipping community. The following day ITIC co-sponsored with the Singapore branch of the Institute of Chartered Shipbrokers a well attended Seminar on the subject of the ISM Code. Speakers included the Chairman of ITIC, Paul Vogt, and local ITIC Director, Steven See. The ITIC and ICS Singapore branch Chairmen also exchanged gifts.
Paul Vogt and several other Board members also attended an ITIC seminar and reception held in Kuala Lumpur on 16th April, 1998.
More than one year since the Club moved offices, post is still being sent to the old address. Please note that ITIC is now at:
26 Creechurch Lane,
London, EC3A 5BA.
Telephone and fax numbers remain the same.
The Club now has an e-mail address as follows: ITIC@thomasmiller.com
Please ensure that you state your name and that of your company in your messages.
Pay your premium in Euros
With effect from 1st January, 1999, the Club will additionally be underwriting in Euros. Should you wish to make use of this new facility, then please let your ITIC underwriter or Stuart Munro know.
As will be seen from the article on page 16, the new BIMCO Shipman form for use by ship managers has been produced. We would like to thank BIMCO for the acknowledgement in their special circular, number 3, dated 19th August, 1998:
“Given the importance of this work and to ensure that "Shipman" remained the industry standard third party ship management agreement, it was decided to entrust the draft revision work to a sub-committee composed of experts within the ship management field represented by the International Ship Managers Association (ISMA), shipowners and legal and insurance experts. Valuable input was received from the International Transport Intermediaries Club (ITIC).”
ITIC's legal adviser, Andrew Jamieson, spoke at the Lloyd's List Shipbroking Conference in September 1998. His paper was entitled “Professional Negligence – Are brokers facing a litigious world with enough protection?”. Andrew also addressed the Danish Shipbrokers Association at a dinner held at the Royal Copenhagen Yacht Club. His paper was entitled ‘Avoiding Claims in a Difficult Market’.
Port Agents and the ISM Code
The ISM Code came into force on 1st July, 1998 for passenger ships, chemical tankers and bulk carriers. In due course, but not later than 1st July 2002, it will be extended to cover other cargo ships and offshore drilling units of 500 gross tonnage and upwards. Port agents might wish to consider obtaining full details of the “designated person” of their ship owner principals. Under the Code every company must designate a person or persons ashore having direct access to the highest level of management. In the event that a ship is detained for non-compliance with the ISM Code port agents may be caught in the middle of a dispute between the authorities, on the one hand, insisting on immediate action to remedy any non-compliance, and the owners on the other, arguing that their ship is already fully compliant.
The Ship Arrest Handbook
Lloyds of London Press has published the Ship Arrest Handbook edited by Paul Smith, ITIC consultant and editor of the Intermediary. The book reviews arrest procedures in 35 jurisdictions around the world.