Fuel uncertainty reshapes shipbuilding investment and marine insurance
In China, shipowners, fuel suppliers and insurers explored ways to reduce the financial risks of alternative marine fuels at Shanghai’s Oct. 20 North Bund Forum, including flexible vessel designs and new insurance products, Xinde Marine News reported Nov. 2.
Wan Hai Lines and Seaspan are preserving fuel options to protect ships against changing regulations and customer preferences. But those investments depend on reliable, affordable fuel supplies.
Shenergy Environment Technology said green methanol costs roughly twice conventional methanol and proposed insurance against fuel delivery failures, certification risks and carbon accounting problems.
Swiss Re advocated involving insurers during ship design to assess risks that lack historical claims data. China Pacific Property Insurance joined industry partners in launching a laboratory to develop new risk assessment methods and insurance products.
The initiatives reflect an expanding role for insurers in determining how alternative-fuel ships are built, supplied and financed.
Category: Sustainable Marine Fuels
