Marine Hull

Without shipping, the import and export of goods for the modern world will not be possible.

What is the percentage of world trade carried by the international shipping industry?

• 50%

• 75%

• 90%

• 40%

Which is the leading (#1) ship owning nation in the world ?

• Singapore

• China

• UK

• Greece

Answer explanation

As of November 2021, China owns the largest amount of shipping assets at USD191Bn followed by Japan which ownes USD187Bn shipping assets.

Greece ranks third while Singapore and United Kingdom rank fifth and eighth place respectively.

Can you identify this passenger vessel (off coast of Italy)?

• TITANIC

• ORIENT QUEEN

• BLACK PEARL

• COSTA CONCORDIA

Answer explanation

On 13 January 2012, the Italian cruise ship COSTA CONCORDIA struck an underwater rock and partially sank off the coast of Isola del Giglio, Tuscany. The disaster resulted in 34 deaths.

The total cost of the disaster including victim's compensation, refloating, towing and scrapping cost, is esimated at USD2Bn, more than three times the USD612M construction cost of the ship.

What does "STARBOARD" mean for a ship?

Answer explanation

"PORT" means Left (Red Light)of the Bridge.

"STARBOARD" means Right (Green Light) of the Bridge.

Commercial aircraft also follows the same naming and lights.

Which country supplies the most seafarers?

• Indonesia

• China

• Philippines

• Ukraine

Answer explanation

China now provides the most seafarers in total.

However, Philippines provides the most rating (non-officers).

What percentage of active seafaeres are women?

• 1.2%

• 4.8%

• 9.7%

• 3.8%

Answer explanation

Today, women represent only 1.2% percent of the global seafarer workforce as per the BIMCO/ICS 2021 Seafarer Workforce Report. This represents a positive trend in gender balance, with the report estimating 24,059 women serving as seafarers, which is a 45.8% increase compared with the 2015 report. 

You’re travelling on a container ship from Shanghai to Rotterdam – how many nights will you be on the ship?

• 1 - 9 days

• 10 - 20 days

• 21 - 40 days

• 41 - 60 days

• 61 - 75 days

Answer explanation

It will take you 36 days!

Which of the following is NOT an insured peril for Hull insurance cover?

• Grounding

• Piracy

• Engine Breakdown

• Wear and Tear

Answer explanation

Grounding, Piracy and Engine Breakdown are insured perils under the most commonly used Institute Time Clauses - Hulls. However, Piracy covers are now more often excluded under the Hull insurance cover but included in a Marine War insurance cover.

Marine hull insurance does not cover the vessel's wear and tear.

What is the other name of Collision Liability Clause in Hull Insurance?

• Hit and Run Clause

• Running Down Clause

• Sue and Labour Clause

• General Average Clause

Answer explanation

Running Down Clause — an ocean marine hull policy clause adding legal liability coverage for damage done to another ship or its cargo resulting from a collision with, and caused by, the insured vessel.

Sue and Labour Clause - The purpose of this clause is to indemnify the assured in case he incurs expenditure when averting or minimizing a loss, which would otherwise be recoverable under the insurance policy.

General Average - It relates to losses directly related to a sacrifice made as a result of a catastrophe at sea, all other losses are known as particular average losses.

There is no Hit and Run Clause in any Hull covers.

Which of the following insurance clauses are related to Hull Insurance?

Please select all that apply.

• Institute Time Clauses Hulls

• Institute Yacht Clauses

• Nordic Marine Insurance Plan

• Institute Voyage Clauses Hulls

Answer explanation

There is a wide range of insurance clauses for Marine Hull or related insurances which are extensively recognized by the International market.

The commonly used ones are the English policy form - Institute Time Clauses - Hulls, American policy form- American Institute Hull Clauses and Norweigian policy form - Nordic Marine Insurance Plan.

There are also special policy forms for voyage covers or yacht covers.