Lloyd’s promotes safety standards for Arctic

Lloyd’s, the London-based insurance market, has expressed its support for a Polar Code, specifying safety standards for vessels operating in Arctic seas. On March 12 the organization held a workshop which resulted in a decision to draft Arctic marine safety proposals to be sent to the Arctic Council, the intergovernmental forum of the eight Arctic nations. The proposals, which would encompass industry-led safety standards and the procedures for enforcing those standards in international waters, would enhance the Polar Code, Lloyd’s says.

The Polar Code itself is still in draft form and has yet to be ratified by governments — the code will be implemented through the International Convention for the Safety of Life at Sea and the International Convention for the Prevention of Pollution from Ships, Lloyd’s says.

Neil Roberts of Lloyd’s Market Association said that, upon ratification, the Polar Code should enable ship owners to mitigate the risks associated with operating in Arctic seas.

“Improving standards of ship design and operation in these waters can only be a good thing and would be welcomed by insurers,” Roberts said.

As ship traffic in the Arctic increases as a consequence of the shrinking summer sea ice extent, Arctic communities, the U.S. Coast Guard and others worry about the potential for a major marine accident, especially with the potential for loss of life or a resulting oil spill. Vessels operating in the Arctic may have to contend with sea ice, low temperatures and hazardous weather, in a region lacking significant support infrastructure or ports of refuge.

—Alan Bailey