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Loss Prevention Advice

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Recent world events have had the effect of lengthening transit times which continues to put considerable pressure on the capacity of the world’s container fleet and the cost of shipping containerized cargo.

As a result, Assureds operating bulk carriers and general cargo vessels are likely to see more requests to carry containers, flexible bulk containers (“jumbo bags”) and other cargoes that are otherwise usually carried in containers. Requests to load those cargoes in the same holds as breakbulk and steel cargoes are also more likely.

Details of the risks associated with transporting this type of mixed cargo are set out in the below publications:

https://www.londonpandi.com/Media/2994/6797-lp-focus-v3.pdf

and

https://www.londonpandi.com/Media/2815/6651-stoploss-update-containers-v2.pdf

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Global crude oil and oil products shipments taking the long route between Asia, the Middle East and the West is up 47% since attacks began on vessels using the shorter Red Sea route, the Energy Information Administration said on Tuesday.

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The latest version of the internationally recognised standard for marine fuel specification, ISO 8217, has been released by the International Organization for Standardization (ISO). This seventh edition, ISO 8217:2024, is one of the most significant revisions to date, featuring substantial updates to grades and parameters, new terminology for bio products, and the addition of two tables to categorise residual marine fuels. These tables distinguish between fuels with sulphur content up to 0.5% (predominantly VLSFO) and those above 0.5%, as well as a table for bio-residual marine fuels.

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An incident of an attack occurring approximately 66 nautical miles southwest of Al Hudaydah, Yemen.

The incident involved a vessel being struck on its stern by a small craft. According to reports, the small craft is described as white in color and measuring between 5 to 7 meters in length. Authorities have initiated an investigation into the matter.