8th May 2017
TMC attended the 2nd Asian Marine Casualty Forum at the Raffles Convention Centre in Singapore on 27th and 28th April 2017. The two-day event, coinciding with the annual Singapore Maritime Week, was a huge success with a large turnout of speakers, delegates and media. TMC were one of the more than forty sponsors that contributed to this free to attend event organised by London Offshore Consultants.
The opening presentation of the Forum was given jointly by TMC’s Technical Director, Colin Barker, and LOC’s Engineering Director, Paris Mangriotis. The presentation, Risk Mitigation in Wreck Removal, discussed the use of qualitative and quantitative risk analyses in wreck removal operations. The presentation provoked discussion regarding the use of quantitative risk analyses in some recent notable wreck removal contracts to assist with determining contract fixed pricing and the deletion of Clause 4 (change of method of work) and 7 (delays due to weather and equipment breakdown) from the standard BIMCO Contracts. This practice has become of increasing importance with the 2016 review by the International Group of P&I Clubs large casualty working group emphasizing the ‘need for clubs to be keenly focused on ensuring adequate and effective risk transfer mechanisms in contractual terms of engagement’.