Thailand International Boat Show

Posted on January 15, 2026August 6, 2025 by News Hound

When

January 15, 2026 - January 18, 2026

All Day

With over 6,000 visitors and more than 100 exhibitors, this event targets those with an interest in boating and luxury lifestyle. Yachts of all sizes will be on display ranging from dinghies and day trippers up to superyachts.

This event takes place in Phuket Yacht Heaven in Thailand

Click here for more info!

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Reports & Bulletins

Issue: December 2024

Issue: September 2025

Issue: November 2025

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ClassNK publishes Guidelines for Onboard CO2 Capture and Storage Systems

[caption id="attachment_57514" align="alignright" width="365"] ClassNK publishes Guidelines for Onboard CO2 Capture and Storage Systems update[/caption]

ClassNK has released second edition of "Guidelines for Onboard CO2 Capture and Storage Systems". It assumes onboard CO2 capture systems (OCCS) use of a membrane separation method which are expected to be applicable to a wide variety of vessel types. The guidelines can support the safety development, manufacturing, and installation of relevant systems.

Not only fuel transition, but interest in capturing CO2 from ships' exhaust gas is growing as a way to reduce GHG emissions. Development of onboard systems for capturing and storing CO2 is also being carried out.

In 2023, ClassNK published the first edition of the "Guidelines for Onboard CO2 Capture and Storage Systems" which outlined requirements for OCCS using amine absorption method.

In the newly issued Edition 2.0, the guidelines have been expanded to include requirements for OCCS using membrane separation method which is lower energy requirement compared to amine absorption method and does not require a permanent supply of amine solution.

In addition to that, ClassNK has reorganized the fundamental functional requirements for OCCS, extracted the common requirements across different capture methods, and compiled them into a set of generic requirements that should apply regardless of the specific capture method.

You can download the new guidelines via ClassNK's website.

The post ClassNK publishes Guidelines for Onboard CO2 Capture and Storage Systems appeared first on The International Institute of Marine Surveying (IIMS).

Crew steam injuries due to undocumented modifications on Wisdom Venture

[caption id="attachment_57530" align="alignright" width="385"] Crew steam injuries due to undocumented modifications on Wisdom Venture. Source: ATSB site photo[/caption]

An undocumented modifications on Wisdom Venture oil tanker resulted in burns to three crew members, according to the Australian Transport Safety Bureau (ATSB).

What happened

On 6 May 2025, the oil tanker Wisdom Venture was drifting off Sydney, New South Wales, when the engineering team commenced maintenance on the main deck steam valve for the cargo heating system. The valve had been leaking from the bonnet joint gasket.

Following isolation of the system, the team removed the valve bonnet. During this process, residual hot condensate was suddenly released, resulting in burn injuries to 3 crew members.

First aid was administered on board, and the injured personnel were subsequently evacuated to shore for medical treatment.

What the ATSB found

The ATSB found that prior to commencing maintenance work on the cargo heating system main deck steam valve, the crew did not allow adequate time for the steam system to cool. In addition, the verification system to ensure that the steam line was fully depressurised was not used. This was most likely due to the time pressures to reintroduce heating to the main engine fuel system.

The ATSB also found that a drain line in the warm-up bypass line had been permanently modified without formal approval or documentation. This change was not incorporated into a risk assessment and no formal review was conducted. This undocumented change likely introduced a system vulnerability that undermined the effectiveness of the steam system isolation.

Additionally, the modification was not identified in the chief engineer’s handover process, leaving the incoming engineering team unaware of the altered configuration and associated risks. It was also not identified during routine technical inspections or superintendent riding visits. This resulted in the ship manager’s management of change process not being applied.

What has been done as a result

Following the incident, the ship manager advised that the drain line on Wisdom Venture has been returned to its original design configuration. A fleetwide campaign has also been initiated to identify any unauthorised modifications to shipboard piping systems. Where such modifications are identified, internal investigations will be conducted.

To raise awareness of the risks associated with undocumented engineering changes, the incident will be included in pre-joining briefings for senior engineering staff and discussed during crew seminars. Ship staff will also be reminded that all modifications must be undertaken in consultation with the office and in accordance with the company’s management of change process.

Finally, to improve oversight and strengthen management of change procedural compliance, the superintendent’s inspection report will be amended to include verification of any shipboard system modifications not reflected in the ship’s design drawings. These actions are intended to ensure that future modifications to critical systems are properly assessed, documented, and communicated.

Safety message

The incident highlights the critical importance of adhering to established safety and management of change procedures. Where changes are to be made to a system, these need to be recorded and the processes to identify the risks need to be followed to ensure there are no unintended consequences.

In addition, operators are reminded that maintenance involving steam systems must allow sufficient cooling time and include visual confirmation of isolation. Reliance solely on pressure indicators is not sufficient to ensure safe working conditions.

Read the full final report: [download id="959"]

The post Crew steam injuries due to undocumented modifications on Wisdom Venture appeared first on The International Institute of Marine Surveying (IIMS).

IUMI report shows global marine insurance premiums total $39.92 billion

[caption id="attachment_28325" align="alignright" width="385"] IUMI report shows global marine insurance premiums total $39.92 billion[/caption]

The 2024 global marine insurance market showed relative stability according to the International Union of Marine Insurance (IUMI). In the IUMI Stats Report 2025 it said global marine insurance premiums total USD39.92 billion in 2024 — a 1.5% uplift on 2023. Stability was seen across all lines of business except for offshore energy where premiums reduced by almost 8%. Drivers included a continued rise in global trade volumes and values (cargo), changes in vessel numbers and values (hull) and oil price dynamics (offshore energy).

Ocean hull premiums were reported at USD9.67 billion, up by 3.5% on the previous year. Europe continues to dominate and reported an unbroken growth trend since 2019. Growth in the Russian hull market reached 42% largely due to sanctions preventing Russia from placing risks overseas. Loss ratios for Europe remained relatively stable.

Premiums for cargo insurance reached USD22.64 billion representing a 1.6% uptick on last year. Subdued growth was largely due to general economic and trade conditions. China performed particularly well, however. Loss ratios improved for the sixth consecutive year.

The offshore energy sector reversed its recent run of premium base growth to report a 7.9% reduction at USD4.34 billion for 2024. London continues to dominate this market with a 60% share. Notably, the Nordics was the only market to expand its share in 2024 (by 27%). A pressurised oil price, sanctions, decarbonisation initiatives and market capacity have all played a part in the performance of this business line.

The report also provides an update on IUMI’s Major Claims Database which contains data from 2013 onward with 30 national insurance associations now contributing to the hull and cargo analysis. More than 17,400 observations have now been recorded.

Additionally, and for the first time, the report introduces the newly revised IUMI Hull Inflation Index which helps insurers to explain marine repair cost inflation using a range of macroeconomic indicators.

IUMI Secretary General Lars Lange said: “As we progressed through 2024 and into 2025 we have seen some significant headwinds creating challenges for all lines of business. Geopolitical and trade tensions have generated an unprecedented level of uncertainty involving war risks, tariffs and other economic measures. Global interest rates have fallen, inflation is down in most regions but the weak US dollar is squeezing premium income whilst adding to claims costs for those insurers paying out in non-US dollar currencies. Added to this, the ongoing issues surrounding the greening of the global fleet – notwithstanding the recent IMO decision to delay – is a major challenge to be addressed as is the need to cover a growing fleet where the average vessel age is approaching 23 years. Climate change, the persistence of large vessel fires and risk accumulations continue to impact underwriters.”

Download the full report: [download id="960"]

The post IUMI report shows global marine insurance premiums total $39.92 billion appeared first on The International Institute of Marine Surveying (IIMS).

Product safety report for Mercury Marine 450R and 500R outboard motors

[caption id="attachment_57543" align="alignright" width="385"] Product safety report for Mercury Marine 450R and 500R outboard motors[/caption]

The UK Office for Product Safety and Standards (OPSS) has issued a product safety report for two models of Mercury Marine 450R and 500R outboard motors.

The reason for the recall is that these outboard motors present a risk of injuries as users could trap their fingers in the top cowl air vents during use. The products do not meet the requirements of the Recreational Craft Regulations 2017.

This notice applies to:

Mercury Marine 450R – serial numbers 1E083006 to 1E099696
Mercury Marine 500R – serial numbers 1E099432 to 1E102508

Mercury Marine is providing a bezel assembly to cover the top air vents of the affected engine models. Consumers with affected products should take their boat to any Mercury Marine Authorised Dealer for bezel installation.

You can find your local Mercury Marine dealer here

For further information, you can email the UK importer E. P Barrus Ltd via customerservices@barrus.co.uk

Download the product safety report:[download id="961"]

The post Product safety report for Mercury Marine 450R and 500R outboard motors appeared first on The International Institute of Marine Surveying (IIMS).

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