NorthStandard’s Strike & Delay class has introduced weather cover into its suite of risks, providing shipowners and charterers with what it says is the first marine insurance protection to mitigate the threat posed to ships solely by adverse weather conditions.

The marine insurance product offers up to eight days of cover against the risks of a ship being delayed in or outside a port due to bad weather, as part of NorthStandard’s broader Strike & Delay package.

Despite advances in forecasting capabilities, weather remains a main factor not only in ship strandings, but in voyage planning disruption and route diversions. Nick Rowe, Head of Strike & Delay, NorthStandard, said: “Adverse weather is a constant risk for shipowners and charterers, and the costs of unforeseen conditions can be substantial. Port closures can either leave vessels sitting idle and unable to leave, or force them to stay at sea or navigate a different route. Both scenarios can cause long delays and bring significant financial loss.”

NorthStandard has extended its ‘onshore’ weather cover – which takes account of disruptions to the landside supply chain – to include the risk of delay to ships caused by named storms, but also wind, swell or fog, and unexpected rain and ice. Cover for up to eight days is triggered if an entered ship is delayed at any port, berth, sea-lane, or navigable waterway, even if the port authority hesitates on officially closing for weather reasons.

Rowe added: “Although weather routing services offer support when planning a voyage, they are of little help if a vessel is already trapped in a port, or the weather conditions change on route.”

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