Navigating the future: safety first

As the maritime fraternity celebrates World Maritime Day 2024 with the theme Navigating the future: safety first, it is important to place in context the geo-politicial developments, labour deadlocks and supply chain uncertainties that dominate the scenarios today.

The International Maritime Organization (IMO), which has chalked out an elaborate programme, will light up the headquarters "in blue light in the evening of the day to promote this year's theme."

Arsenio Dominguez, Secretary-General, IMO in a video message mentioned about the International Convention for the Safety of Life at Sea (SOLAS), and how it is completing 50 years of adoption by the industry.

The 2024 World Maritime Day theme reflects IMO's work to enhance maritime safety and security, in tandem with the protection of the marine environment whilst ensuring its regulatory development process safely anticipates the fast pace of technological change and innovation.

"Safety has been at the heart of all of IMO's activities since the organisation was established in 1948. The regulatory framework is continuously evolving as gaps become apparent and as a result of IMO's proactive work to anticipate changes needed to accommodate emerging technologies and innovation – a prominent example being the currently ongoing development of a goal-based code for maritime autonomous surface ships (MASS Code).

"The theme is also closely linked to the UN 2030 Agenda for Sustainable Development and several of the UN's Sustainable Development Goals (SDGs)."

In light of rising geopolitical tensions and extreme weather conditions, shippers and carriers should adopt a proactive risk management approach, says Arpita Suyal, Head of Marine Insurance, Policybazaar for Business. “This includes investing in protecting any financial risk that can be insured, not just protecting against cargo loss, with marine cargo insurance policy with war and strikes, riots and civil commotion clause but also liabilities due to third party damages, environmental impacts, delays or with insurance products like Multimodal Transport Operator Liability or Carrier Legal Liability. Additionally, using technology for real-time tracking and modern equipment can help anticipate, reduce and respond to risks more effectively.”

Smitha Shetty, Regional Director, APAC, Achilles Information says: "On this World Maritime Day, we emphasise the need for a safe, sustainable, and green maritime sector. With maritime transport accounting for 95 percent of India’s external trade, our extensive coastline and ports are vital to economic growth. The Maritime Amrit Kaal Vision 2047 sets a bold path for transformation but it requires international cooperation to address maritime threats — from piracy to emerging risks like drone attacks. Together, we can build a resilient maritime future that not only drives trade but also safeguards our oceans and communities.”

Rahul Acharekar, Assistant Vice President, Operations, Allcargo Terminals adds that in a rapidly changing logistics landscape, "Allcargo Terminals addresses the challenges faced by shippers, carriers and forwarders. Amid geopolitical shifts and port delays, we focus on operational agility and customer-centric solutions through MyCFS 2.0, a one-stop platform offering end-to-end CFS services. With features like seamless document uploads and real-time cargo tracking, we reduce administrative burdens and enhance control and transparency. Our strategic presence across key cities — Mumbai, Mundra, Kolkata, Chennai and Dadri - ensures we meet the diverse needs of logistics providers while driving efficiency across the supply chain.”

Danish carrier Maersk reported a 1.1 percent loss-time injury frequency rate, "an increase from 0.93 in 2022, partially driven by an increase in reported cases."

MSC Mediterranean Shipping Company (MSC) operates with a core value of "Care for People."

Emerging trends
Marine insurance is increasingly aligning with sustainability initiatives, says Suyal. “Insurers are now developing innovative products that not only cover traditional risks but also encourage eco-friendly operations. These products reward shipping companies that adopt green technologies such as energy-efficient vessels, low-emission fuels and responsible waste management practices.

“However, the transition isn't without challenges. The cost of switching to sustainable practices, such as adopting hydrogen fuel technology remains high, and the associated risks are still being fully understood. Despite these hurdles, insurers are collaborating with the shipping industry to offer tailored solutions, driving a balance between profitability, operational efficiency, and environmental responsibility.”

Acharekar of Allcargo adds: "As an ISO 9001,14001 and 45001 certified organization, we ensure adherence to internationally recognised practices. With OHSAS certification across ATL facilities for over a decade and regular training of our teams and associates, we reinforce our commitment for a safe, reliable working environment for all stake-holders. By aligning with the theme of SaFety first, Allcargo Terminals is securing the present and navigating a future where maritime operations are resilient, transparent, and above all, safe."

Way ahead
Real-time data tracking and the use of technology to monitor environmental changes can significantly enhance risk mitigation strategies, according to Suyal of Policybazaar. “As shipping routes shift and weather unpredictability grows, insurance solutions need to be just as dynamic.

“Businesses should assess the risk their business is exposed to, the nature of their operations, the type of contracts with clients and rules and regulations of the countries they are operating in while deciding on the insurance products to go ahead with. For example: if the all the clients are taking the marine cargo insurance, then the shipper or carrier should majorly be worried about protecting their liabilities when there is any case of third party losses due to neglect by the shipper or carrier through a Carrier Legal Liability or Multimodal Transport Operator Liability Insurance.

“If all the clients are not taking marine cargo insurance, the shipper or carrier should opt for a higher coverage amount in CLL and MTO policy taking into account the worth of goods that they will be handling in a year and any third party liabilities that might arise. If the shipper or carrier owns a ship then they should have a marine hull policy as well. Engaging with an experienced insurance advisor can help tailor a policy that offers comprehensive protection while considering budget constraints and operational risks.”

At Achilles, Shetty says, “we are proud to foster a culture of safety and supply chain resilience through our maritime network, empowering shipping companies to prioritize their most valuable asset: their workforce. By prioritising safety protocols and collaborative efforts, we can safeguard our oceans, protect maritime workers, and ensure that future generations inherit a resilient and thriving maritime industry. Together, we can create a sustainable framework that fosters trust, innovation, and security on the high seas."