DUBAI // The crew of the tanker Kashmir, whose side was ripped open in a collision with a container ship off Dubai on Tuesday, are yet to carry out a full damage assessment.
"Some of our officers were allowed on board briefly on Wednesday, but only for a few hours," Loris Servadei, of the vessel's Italian owners Martinoli Consulting, said from the firm's headquarters in Genoa, Italy.
"From what they were able to tell in that time, the engine room appears to be fully operational, but we need to check the tanks with the cargo in them to assess the possibility of discharging it, and we cannot do that until we are allowed on board. "The vessel is still at a safe anchor.We are confident that we may be able to remove the cargo safely, either by bringing it into port or by a ship-to-ship transfer, but we don't have enough information to determine whether we can do that yet."
He also said the voyage data recorder had not yet been recovered. The device, similar to flight data recorders on aeroplanes, "will help us learn what happened".
The Kashmir was carrying 30,000 tonnes of liquefied natural gas from Iran to Jebel Ali when it collided with the Sima Saman as it approached the port. The Kashmir suffered substantial damage to the middle of its port side, but the area where it was hit was empty of cargo, and environmental assessments suggest that little was spilt into the sea. Both ships were damaged by a fire that was started by the collision.
The Kashmir "is listing a little to the port side, but she is stable and we do not see much problem in moving her or transferring the cargo", Mr Servadei said. "We are clearly pushing to be allowed to examine the possibilities and decide what the best thing to do is, but so far we just have to wait."
The Sima Saman was allowed to return to Jebel Ali port on Wednesday, and representatives of her operators, Simatech Shipping and Forwarding of Dubai, went on board yesterday.
"The crew have returned and are carrying out a full damage assessment," said Amir Maghami, managing director of Simatech.
"The ship has suffered quite significant damage to her bow, and around 20 containers have been damaged by fire, although we have not yet been given permission to open them so we do not know exactly what is in them or whether the contents have been affected.
"There is an underwater survey going on to see the extent of the damage there, but it is much too early to estimate how much it might cost. Repairs to the bow are usually more difficult because the metal plate is thicker there, but the UAE is one of the best places for ship repair in the world.
"Our priority at the moment is to transfer the cargo on to another ship so it can continue on to its destination. We hope to be able to do that in the next couple of days."
Both ships had been under the control of harbour pilots, whose job it is to guide vessels in and out of port, at the time of the crash. Visibility had been significantly reduced by fog.
DP World, the operator of Jebel Ali port, could not be reached for comment yesterday.
gmclenaghan@thenational.ae
UAE currency: the story behind the money in your pockets
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The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
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Price: Dh133,900
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Soldier F
“I was in complete disgust at the fact that only one person was to be charged for Bloody Sunday.
“Somebody later said to me, 'you just watch - they'll drop the charge against him'. And sure enough, the charges against Soldier F would go on to be dropped.
“It's pretty hard to think that 50 years on, the State is still covering up for what happened on Bloody Sunday.”
Jimmy Duddy, nephew of John Johnson
About RuPay
A homegrown card payment scheme launched by the National Payments Corporation of India and backed by the Reserve Bank of India, the country’s central bank
RuPay process payments between banks and merchants for purchases made with credit or debit cards
It has grown rapidly in India and competes with global payment network firms like MasterCard and Visa.
In India, it can be used at ATMs, for online payments and variations of the card can be used to pay for bus, metro charges, road toll payments
The name blends two words rupee and payment
Some advantages of the network include lower processing fees and transaction costs
Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
WISH
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UAE%20SQUAD
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The specs
Engine: 2.9-litre twin-turbo V6
Power: 540hp at 6,500rpm
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Transmission: Eight-speed auto
Kerb weight: 1580kg
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MATCH INFO
Europa League final
Who: Marseille v Atletico Madrid
Where: Parc OL, Lyon, France
When: Wednesday, 10.45pm kick off (UAE)
TV: BeIN Sports
MATCH INFO
Sheffield United 2 Bournemouth 1
United: Sharp (45 2'), Lundstram (84')
Bournemouth: C Wilson (13')
Man of the Match: Jack O’Connell (Sheffield United)
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Engine: 3-litre twin-turbo V6
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Torque: 475Nm
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THE SPECS
Engine: 1.5-litre
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Torque: 147Nm
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