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IUA Circular 009/10 To: All IUA Member contacts From:
IUA Market Briefing
International Marine Salvage – Meeting Future Market Challenges
By Mark Hoddinott, Managing Director Europe, Titan Salvage
Subject : This market briefing will consider changes in the international marine salvage industry and how they may impact the London market.
Date: Thursday 18th February 2010 Time: 12 noon – 1pm followed by buffet lunch Venue: St Giles Room, Balls Bros Wine Bar, Minster Pavement, Mincing Lane, London EC3
International Marine Salvage is a relatively small industry dominated by a limited number of international companies. It is an industry that is cautiously welcomed by shipowners and marine underwriters. Marine salvage has always been a high risk business and marine salvage companies were once family or privately owned. Now the majority are owned by publicly listed corporate groups who manage their businesses on stricter financial accounting policies.
This Market Briefing will discuss the status of the industry, the changes it is going through in terms of corporate structure, contractual environment and opportunities, and how it will meet future challenges. It will also cover the new USCG salvage regulations and the activities of Titan Salvage, one of the world’s leading international salvors.
British-born, Mark is a Master Mariner who commenced his seagoing career with P&O in 1967. He served on a variety of ships including passenger, container, oil tanker, bulk carrier, reefer, short-sea ferry and deep sea tugs, up to and including the rank of Master. In 1982 he joined the UK-based company, United Towing Limited, as Salvage Master and spent the next 10 years leading salvage operations on a worldwide basis. As a result of the acquisition by the Australian company, Howard Smith Industries, Mark progressed to Salvage Manager in 1992, and following the further acquisition by Adsteam Marine in 2001 he became a member of the UK senior management team with responsibilities for all business projects and salvage.
Attendance at this meeting may qualify for the CII CPD scheme, but interested parties should seek guidance from the relevant professional bodies.
To reserve your place(s) email : Deborah.finch@iua.co.uk
Please note that from January 1st 2008, our Market Briefings now take place at an alternative venue to the LUC which will be confirmed at the top of this circular.
For events held in the conference rooms at Balls Bros., Minster Pavement, Xchanging Conference Rooms or The Chamberlain Hotel, you will not require a pass but we will require a note of your attendance for room capacity and catering requirements.
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Scott Farley Communications Manager 20th January 2010
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