Riding the waves of economic cycles
The shipbuilding industry has had its ups and downs over the years, and whilst this is nothing new, current market conditions are particularly challenging. The collapse in world energy prices, pressures on international trade, and the lack of available finance have all been compounded by overcapacity of vessels, cancelled orders and delays in delivery.
Shipbuilders are trying to adjust to these new economic realities by looking into niche and specialist markets, adding value by offering ever more sophisticated and exclusive vessels. Yet, concentrating on a single niche can be just as dangerous, placing shipbuilders back at the mercy of economic cycles, and they will need to diversify again.
Why partner with us?
Knowledge and experience
MS Amlin has an outstanding track record as a leading underwriter in this market and we support an extensive and diverse portfolio of clients around the globe. We understand the risks and the challenges our clients face and this knowledge enables us to tailor cover to fit clients’ specific needs on competitive terms and conditions.
On a technical and selective basis, we can offer such tailored coverage for delivery voyages, delay in delivery, interest payments, guarantee and/or maintenance.
We have a dedicated team of underwriters and claims handlers for Builders’ Risk. Within MS Amlin, our Rotterdam office is considered the reference point for this type of insurance. We can write the risk either on Amlin Insurance SE paper or on Lloyd’s paper via our Syndicate 2001, depending on licence requirements.
We offer flexibility in rating and conditions, driven by the needs of the client. We take a holistic approach, looking not only at the specific hull risks, but also at the broader scope of financial protection for the company as a whole. We lead approximately 80% of the business we write.
The scale of our service
We insure trade vessels such as containers, tankers, ferries, bulkers, and LNG and LPG vessels around the world.
We particularly focus on specialist and naval vessels and on the construction of ships and other marine objects. The nature and range of the potential risks are as diverse as the vessels themselves. This calls for specialist cover and protection, delivered by skilled experts.
These risks include:
- High-value concentrations
- Natural disasters
- Offshore and post-delivery