IN BRIEF

Fatal collision

A collision in the North Sea on December 5 resulted in the loss of the Bermudian registered cargo vessel Baltic Ace and seven of its crew. Secretary General of the International Union of Marine Insurance Fritz Stabinger said “Our thoughts are with the families of those seafarers who have tragically lost their lives. It is far too early to speculate on the insured costs of the incident, but the loss of the Baltic Ace comes in the final month of a year which began with the loss of the Costa Concordia and goes to highlight the rising exposures assumed by the world’s marine insurance industry.The collision occurred in one of the world’s busiest sea routes and is further evidence that the waterways of the English Channel were, are and will continue to be dangerous and a high-risk area.”