Marine Reinsurance Firms Expect Giant Suez Blockage Claims
by Carolyn Cohn (Reuters) – The recent blockage of the Suez Canal is likely to lead to large reinsurance claims, adding to upward pressure on marine reinsurance rates, James Vickers,...
A 29-person lifeboat belonging to the late MS Olivia bulk carrier has washed ashore in southern Australian, nearly 2 years – and about 5,000 miles – after the vessel wrecked on a remote island in the southern Atlantic Ocean.
Markings on the lifeboat, now covered in barnacles but in relatively good shape, clearly indicate that the vessel does in fact belong to the Malta-registered bulker.
The MS Oliva was traveling from Brazil to Singapore in March 2011 when it grounded on the uninhabited Nightingale Island, part of the Tristan da Cunha territory located some 1,500 miles off the coast of South Africa in the south Atlantic Ocean. The 40,170gt ship was carrying approximately 1,500 tons of fuel oil and 65,000 metric tons of soya beans, as well as one sturdy lifeboat, when it wrecked. No injuries were reported in the incident and all 22 crew were evacuated safely.
The ship, however, eventually suffered a complete hull failure and sank.
More information about the ship can be found HERE.
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