Insurance spares, safety equipment and spare parts on ships

Kotze, Johan

Insurance spares, safety equipment and spare parts on ships

Thesis / Dissertation

1999

Publisher

University of Cape Town

Department

Centre for Law and Society

Faculty

Faculty of Law

Abstract

The company periodically contracts for the building of new ships to add to its fleet. Typically, each ship is separately designed with its own unique specifications and would therefore usually not be exactly similar to any other ship. Once a ship has been built, classification thereof will be sought through one of the classification societies such as Lloyds Register of Shipping, Nippon Kaiji Kyokai, etc. to determine the class of the ship concerned. This is essential for insurance purposes and without such classification the ship would simply not be allowed to trade internationally. Although there are certain international and other regulations or industry practices governing the specification of ships, it is nevertheless up to each shipowner and his appointed naval architects and shipyards to decide on the specifications for any ship that is to be built. The ship classification societies referred to above would typically recommend that certain minimum safety equipment and spares be carried aboard any ship for the purpose of safety at sea, but do not prescribe what these should be. Each ship operator, such as this company, based on its risk profile, decides what safety equipment and spares will form part of the ship. Typically, the type of safety equipment and spares that might be included in a ship are those whose absence, if required urgently at sea, could endanger the Jives of crew or the operational safety of the ship, and would usually include: Spare anchor and chain Critical bearings, valves and pumps Spare cylinder and cylinder sleeve Propeller and tail shaft Seals, wires and pipes The components required for the construction of a ship may be supplied either by shipyard under the construction contract or by the company as so-called "Buyers' Supplies". All such costs incurred are aggregated to determine the cost of the ship.