Alongside

In this episode of Future Thinking from NorthStandard, Helen Barden is joined by James Forsdyke, Managing Director of the Lloyds Register Maritime Decarbonisation Hub. They discuss the establishment and objectives of the hub, its focus on advancing safety and risk management for future maritime fuels, and the importance of engaging industry partners in the transition towards decarbonisation. They also explore the critical role of human safety in implementing new fuel systems and the need for industry-wide standards to ensure the safety of maritime workers.

Highlights:

00:00 Introduction to Future Thinking

00:28 Meet James Forsdyke: Background and Role

00:42 The Maritime Decarbonisation Hub: Structure and Goals

02:50 Impact of IMO's Greenhouse Gas Strategy

05:01 Addressing Risk and Safety in Future Fuels

07:12 Human-Centric Safety in Maritime

12:40 Learning from Other Industries

15:31 Collaborative Efforts for Safety Standards

17:26 Conclusion and Next Episode Preview

In this second episode in the 'Taking on tomorrow together' series, NorthStandard Managing Directors Jeremy Grose and Paul Jennings look at the financial results for the first year of the merger. They also discuss the accident in Baltimore Harbour involving the Dali, and the impact on shipping of such a high profile incident. Plus they look ahead to the next year and beyond for NorthStandard, and some of the work being carried out in External Affairs and digitisation.

Highlights:

00:00 Introduction and Episode Overview

00:43 Discussing the Baltimore Bridge Incident

02:59 Financial Results and Achievements

04:31 Specialty and Blue Water Business Performance

05:10 Global Context and Future Objectives

06:12 Building NorthStandard's Culture

11:09 Sustainability and Customer Experience

13:40 Conclusion and Final Thoughts

Please note: this episode was recorded on May 16th 2024.

In this episode we speak to a company at the heart of a major operation to transfer more than a million barrels of oil from a decaying floating storage and offloading unit (FSO) off the coast of Yemen.

The operation to remove the oil from the FSO Safer was sanctioned by the United Nations and took place to prevent a major environmental disaster. It meant months of planning, as well as negotiations with the local Houthi leaders, to ensure the transfer could take place safely.

A team from SMIT Salvage, part of Boskalis, led the operation. We hear from Operations Manager Paul Van ‘t Hof and Robert Meijer, who is Manager of Projects, who were both in Yemen as the transfer took place. We are also joined by Joseph Divis, Underwriting Director, Offshore & Renewables at NorthStandard, to look at how NorthStandard helped ensure this operation could take place.

Highlights:

01:52 North Standard's Role and Relationship with Smit Salvage

03:03 Challenges and Complexities of the FSO Safer Project

04:45 Security Concerns in a War Zone

06:01 Multi-Agency Coordination and Approval

09:27 Personal Reflections and Safety Measures

13:30 Technical Aspects of the Oil Transfer Operation

15:00 Execution and Completion of the Operation

18:42 Lessons Learned and Final Thoughts

‘Taking on tomorrow, together’ is a special mini-series within NorthStandard’s ‘Alongside’ podcast. 

In this episode, NorthStandard Managing Directors Jeremy Grose and Paul Jennings talk about the recent merger, review some of the achievements from NorthStandard’s first year (including recent renewal results) and look ahead to the next year and beyond. 

Highlights:

00:40 Reflecting on NorthStandard's First Year

03:14 Key Milestones and Achievements

04:18 Renewal Results and Financial Outlook

05:14 Industry Reactions and Challenges

09:44 Adapting to Global Events

12:20 Geographical Expansion and New Initiatives

14:55 Corporate Social Responsibility and Sustainability

17:09 Looking Ahead: Future Goals and Vision

Please note: this episode was recorded just a few days before the P&I renewal date of 20 February 2024.

In this episode of the Alongside: Future Thinking mini-series from NorthStandard, Mike Salthouse is joined by Brendan Moore, CEO of SynMax. 

SynMax is a Houston-based satellite analytics and intelligence company which uses its latest technology to track vessels that turn off the Automatic Identification System (AIS). 

Mike and Brendan discuss the challenges facing authorities in tracking and countering efforts by vessels to avoid detection. 

Highlights:

00:33 Challenges in Sanctions Enforcement

02:26 Evolving Tactics in Maritime Sanctions

03:47 State-Level Spoofing and Advanced Evasion Techniques

06:15 Government vs. Commercial Capabilities

09:00 Future Technological Developments

09:44 Red Flags in Sanctions Breaking

11:19 Collaboration Between Governments and Industry

In this episode of Future Thinking, Mike Salthouse is joined by Olga Dimitrescu, Head of Engagement, Oil Price Cap, at the UK Office of Financial Sanctions Implementation, HM Treasury. 

They discuss the objectives of the Oil Price Cap, its achievements so far and implications for the shipping industry. 

They also talk about changes to the attestation process planned to take effect on February 19th 2024.

Highlights:

01:12 Understanding the Oil Price Cap

02:17 Impact and Success of the Oil Price Cap

04:08 Future Changes and Compliance

05:06 New Attestation Process Explained

10:18 Addressing the Parallel Fleet

14:29 Compliance Advisory and Final Thoughts

In this episode of the Alongside: Future Thinking mini-series from NorthStandard, Mike Salthouse is joined by David Peyman, who serves as counsel to the world's largest maritime, financial, energy, and pharmaceutical sector actors. 

David served in the White House under Donald Trump as the State Department's sanctions chief between 2018 and 2020, and was responsible for managing 25 sanctions programs including Iran, Russia, China and Venezuela. 

Mike and David discuss what a second Trump term might look like for the shipping industry.

Highlights:

00:15 Meet David Payman: Sanctions Expert

00:48 Sanctions Under the Trump Administration

02:33 Impact of Sanctions on Iran

05:00 Perceptions of the Shipping Industry

07:17 Changes Under the Current Administration

08:22 What to Expect from a Second Trump Administration

11:49 Guidance for the Shipping Industry

In this episode of the Alongside: Future Thinking mini-series from NorthStandard, we look at the crisis in the Red Sea and what the impact will be on shipping in the medium and long term. 

Mike Salthouse is joined by John Thompson, a former British Army officer who led Security Planning for the Olympic Delivery Authority in the run up to the London Olympics. He is also the co-founder of Ambrey, the largest provider of maritime security services globally. 

Highlights:

01:21 Global Shipping Security Concerns in 2024

04:20 Aerial Threats and Maritime Security

07:53 Ship Owners' Preparedness and Response

14:20 The Resurgence of Somali Piracy

17:55 Emerging Global Maritime Threats

In this episode we speak to a company at the heart of a major operation to transfer more than a million barrels of oil from a decaying floating storage and offloading unit (FSO) off the coast of Yemen.

The operation to remove the oil from the FSO Safer was sanctioned by the United Nations and took place to prevent a major environmental disaster. It meant months of planning, as well as negotiations with the local Houthi leaders, to ensure the transfer could take place safely.

A team from SMIT Salvage, part of Boskalis, led the operation. We hear from Operations Manager Paul Van ‘t Hof and Robert Meijer, who is Manager of Projects, who were both in Yemen as the transfer took place. We are also joined by Joseph Divis, Underwriting Director, Offshore & Renewables at NorthStandard, to look at how NorthStandard helped ensure this operation could take place.

Highlights:

01:52 North Standard's Role and Relationship with Smit Salvage

03:03 Challenges and Complexities of the FSO Safer Project

04:45 Security Concerns in a War Zone

06:01 Multi-Agency Coordination and Approval

09:27 Personal Reflections and Safety Measures

13:30 Technical Aspects of the Oil Transfer Operation

15:00 Execution and Completion of the Operation

18:42 Lessons Learned and Final Thoughts

In this episode we look at how the industry calculates risk with regards unexpected disruptions, both in port and at sea.

The Strike and Delay Class at NorthStandard insures shipowners and charterers against lost income or profit caused by delays arising from 30 different risks.

These include typical P&I and H&M risks, but more relevant for today, the class specialises in force majeure risks - in other words those that are outside the control of companies.

That means things such as disease, extreme weather, war, terrorism, labour unrest, strikes, civil disturbance, protest, revolution and supply chain disruption.

We talk to Columb Strack, who works with a team looking at some of these risks.

He is Head of Global Cargo Risk at S&P Global Market Intelligence, which provides forward-looking actionable intelligence and risk quantification on political and security risks affecting marine and other sectors.

Also on the show is Nick Rowe, Head of the Strike & Delay Class of NorthStandard to explain how the company supports its members with regards these areas of risk.

Highlights:

00:31 Understanding Risk and Insurance Solutions

01:16 Expert Insights: Predicting Geopolitical Risks

02:42 Impact of the Pandemic and Ukraine War

08:04 Focus on Ukraine: Maritime Implications

12:54 Middle East and Gulf Region: Geopolitical Risks

16:59 Europe: Strike Actions and Economic Challenges

19:31 Conclusion and Final Thoughts