Strike & Delay: Forecasting global maritime disruption

Alongside

Mar 14 2023 • 20 mins

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.