sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery

 

Sail-World.com : London Insurers form a private pirate-fighting fleet

London Insurers form a private pirate-fighting fleet

'Project raises more questions than it answers'    .
Insurers in the City of London are finalising plans to set up a private fleet of armed patrol boats in the Gulf of Aden, in a new drive to stamp out Somali piracy, but there's no indication that cruising yachts will be included or able to insure as a result of the plan.

The naval protection force was conceived by leading figures in the Lloyd's of London market. They have been working with ship owners, freight operators and governments for months, marshalling support for their plan.

While the plan raises more questions that it answers, the goal of the Convoy Escort Programme is to provide protection for tankers trying to navigate the seas off war-torn Somalia while also reducing the soaring costs of insuring vessels, cargo and crews against increasingly vicious attacks by pirates.

Key representatives of the shipping industry, including the Baltic and International Maritime Council (Bimco) have agreed to explore the idea further. Giles Noakes, the chief maritime security officer of Bimco, said that he would be briefing American politicians in Washington on the plan next week.

It is understood that the industry-led project is being monitored by the Royal Navy and its counterparts. The Times understands that the Navy would regard the escorts as a trial which, if successful, would allow naval vessels to hunt pirates in other areas.

If the fleet can secure funding and win the support of the shipping community, it could be up and running within six months. There are also plans to explore using former Nimrod maritime patrol air crews to provide aerial surveillance.

Sail-World Cruising questions how such a fleet would be better able to decide what to do with captured pirates than the navies currently patrolling the pirate zones. Among the different navies and their governments chaos reigns, with some pirates being turned loose to go back and pirate again, while others are arrested and handed over to third parties. Yet others have been flown to the arresting country and given severe jail sentences.

Success for the venture, which has tried to shun the 'private navy' tag, would mark a gear change in international efforts to clamp down on piracy. Despite a successful recent intervention by the Royal Navy, the pirates have escalated their activities sharply in the past fortnight, seizing an oil tanker and its 125 million-pound cargo and killing two of its Filipino crew, and finally kidnapping four American sailors and their yacht.

Under the plan, which has been developed over two years, a non-profit association involving private and public sector members would be set up. It would control a fleet of 18 vessels, each with a fixed gun position and an armed crew authorised to engage the pirates in battle.

Each vessel would carry eight armed security personnel and four additional crew as well as inflatable speedboats, known as 'Ribs', which could be dispatched into combat if the tankers they were protecting came under attack.

Although it would be managed separately, the fleet would be under the operational control of the relevant national navy and the crew would have to conform to international rules on combat and engagement.

One of the key architects of the CEP is Sean Woollerson, a partner in the marine, oil and gas division at Jardine Lloyd Thompson, a leading Lloyd's broker for companies seeking insurance protection, particularly for war risks and kidnap and ransom. KLT is organising the fleet through BGN Risk, a global security consultancy.

Mr Woollerson estimates that the programme would need about $US27.5 million to pay for 18 second-hand vessels, believed to be Swedish patrol boats. It is understood that the plan is to try to tap a $US200 million anti-piracy fund managed by the EU.

'It has taken an extraordinary amount of hard work and effort over the past two years, but we hope we're about 70 per cent of the way there,' Mr Woollerson told The Times.

JLT has been working on the project with insurance underwriters, including at Ascot Underwriting, another leading Lloyd's insurer.

Mr Woollerson said that the association would draw its members from shipping associations, charterers, oil companies, insurance underwriters, lawyers, governments and navies. With a rotating chairman, expected to be elected from among international ship-owning companies, it would have its own chief executive and management team. In theory, any ship seeking the protection of the fleet on a trip through the Gulf of Aden would be able to do so through her Lloyd's of London broker, Mr Woollerson said.

This article was posted by Neptune Maritime Security and edited by Sail-World. To find out more visit www.neptunemaritimesecurity.com
........................

Did you like this article? If you are not a Sail-World subscriber already, did you know that you can keep up with all the news from the world of the cruising sailor with a weekly news hit? It's totally free, as all our income is from the advertisers.

Once you subscribe, all the non-racing news comes to you in one easy to read news magazine, right to your inbox. AND it's up to date, so you don't have to wait for the end of the month to find out what's going on. You can even subscribe a friend. Click here now?nid=80501!




by Neptune Maritime Security/Sail-World

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=80501

2:48 AM Mon 21 Feb 2011 GMT






Click here for printer friendly version
Click here to send us feedback or comments about this story.


News - USA and the World



















International Moth Worlds: Rashley ahead as Aussies close in by Mark Jardine / YachtsandYachting.com,




















International Moth Worlds - Mothballed on day 4 + Video by Mark Jardine / YachtsandYachting.com,




Gladwell's Line: A change of direction needed in the America's Cup *Feature by Richard Gladwell/Sail-World.com/nz,
























Anna Tunnicliffe set to compete at the CrossFit Games
America's Cup: Oracle Team USA holds foiling camp at Wangi SC
Volvo Ocean Race: Abu Dhabi OR completes double Atlantic crossing
Volvo Ocean Race: Team SCA has a 'pull through day' off the Canaries
No tiller sailing - how to steer using just the sails + Video
International Moth Worlds: Three bullets in a row for Greenhalgh
U.S. Junior Women’s Singlehanded Championship - Sophia Reineke wins
BIC Techno 293 Worlds 2014 - Day 0 Opening
Fuerteventura World Cup - Slalom action highlights day 2
2014 Governor's Cup - Sam Gilmour of RFBYC victorious again
Farr 40 West Coast Champ - Skipper Alberto Rossi leads Enfant Terrible
Flying Dutchman World Championships - Magyars are the Masters
Final day shakes up standings at Cape Panwa Hotel Phuket Raceweek
2014 -15 Volvo Ocean Race: Team Alvimedica pushing towards Southampton
NYYC Race Week - Saving the best for last
VX One North American Championship - Chris Alexander commands
2014 Cape Panwa Hotel Phuket Raceweek - Waiting game on Day 3
International Moth Worlds: Thunderstorms delay racing on Day 1
Fuerteventura World Cup - Impressive tricks on day 1
2014 Governor's Cup - Two former winners in the finals
America's Cup: Iain Murray explains reasons for Australian withdrawal *Feature   
Wilson and Roble remain number one match racers in U.S.   
2014 ISAF Youth Match Racing World Championship - Set to start   
PWA Pozo World Cup - Moreno twins dominate home spot   
ISAF Youth Worlds - Record breaking regatta in Tavira + Video   
Melges 32 European Championship - Robertissima remains out front   
Farr 40 West Coast Championship - Italians take one-point lead   
Melges 32 European Championship - Day 3 images by Carlo Borlenghi   
New York Yacht Club Race Week - Marstrom 32 fleet off to anxious start   
Melges 32 European Championship - Day 3 images by Max Ranchi   
CYC Race to Mackinac - Cruising fleet sets sail in 106th edition   
Team Alvimedica getting a touchup   
PWA Pozo World Cup - Plenty of drama on day 5   
ISAF Youth Sailing World Championship - Day 5 Videos   
NYYC Race Week - High performance classes put on shoreside show   
2014 Pacific Cup - 'Invisible Hand' the first boat to finish   
Clipper Round the World Yacht Race - B.C.'s Eric Holden skippers wins   
America's Cup: Updates on Team Australia withdraw   
J/70 North American titles - Brian Keane moves to top of leaderboard   
2016-2017 America's Cup - Team Australia withdraws   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XLXL NEW US
LocalAds   DE  ES  FR  IT