PowerPointpresentasjon

1
Tjuvholmen Project - Oslo A marine insurance
challenge
2
(No Transcript)
3
Tjuvholmen New Area
4
Scope of work

• Contract form EPC
• Establishing 20.900 m2 of new ground area in the
  sea by mounting large concrete boxes on steel
  piles.
• To be used as parking and building ground for
  apartments and commercial buildings
• Contract sum Nok 915 mill

5
Scope of work

• Building 5 large concrete boxes in Fredrikstad
  some 150 km south of Oslo
• Boring 600 large diameter (120 cm) steel piles in
  the harbour of Oslo.
• Towing the boxes to Oslo
• Positioning the boxes on the piles.
• Ballasting the boxes down to the piles
• Tensioning the boxes to the sea bottom

6
Main Technical Challenges

• Positioning the boxes on the steel piles
• Boxes to be constructed for 300 years life
  expectancy.
• Ships collisions barrier according to
• Det norske Veritas.

7
Foundation of boxes.
8
Challenges - Insurance

• Clear definition of the borderlines between CAR
  and Transportation insurance
• In Fredrikstad
• Sea transportation insurance starts when the
  towing wires have been fastened to the box ready
  to be towed out of the dry dock
• In Oslo
• Sea transportation ends and CAR insurance starts
  when the boxes are positioned correctly in place
  and ready to be ballasted down on the steel
  pillars and the towing wires are unhooked.
• Limited or no Liability for the towage Company

9
Borderline between CAR and Marine insurance
Sea transport Transport and liability
CAR
CAR
Dry dock Fredrikstad
Construction site Tjuvholmen
Mooring at Fredrikstad box 2 and 4
Towage of 5 boxes
10
Insurance

• CAR
• including Liquidated damages
• Sea transportation (towing)
• including liquidated damages
• Marine Liability
• Professional Indemnity

11
Insurance

• CAR (Construction in Fredrikstad and Oslo)
• Sum insured Nok 915 mill
• Deductible Nok 2 mill
• Delay in start up
• Cover for Skanskas Liquidated damages as a
  result of a damage to the works
• Sum insured max Nok 91,5 mill
• Deductible 30 days

12
Insurance

• CAR (continued)
• Conditions and sub limits
• DE5
• Waiver of subrogation
• Removal of debris nok 25 mill
• Expediting expenses nok 10 mill
• Offsite storage nok 10 mill

13
Insurance

• Sea Transportation
• Towage from Fredrikstad to Oslo
• Sum insured
• Box 1 Nok 125 mill
• Box 2 Nok 77 mill
• Box 3 Nok 107 mill
• Box 4 Nok 144 mill
• Box 5 Nok 22 mill
• Deductible Nok 5 mill

14
Insurance

• Transport (continued)
• Liquidated damages
• Sum insured Max Nok 91,5 mill
• Deductible 30 days
• Sub limits and conditions
• Removal of debris Nok 25 mill
• DE5

15
Insurance

• Third Party Liability
• Covered by Skanskas yearly insurance.

16
Insurance

• Marine Liability
• Insurance for the damage that the boxes might
  cause to third party during towage and mooring.
• Sum insured Nok 100 mill
• Deductible Nok 2,5 mill

17
Insurance

• Professional Indemnity
• Consultants have a contractual limit in their
  responsibility towards Skanska of 3 mill nok.
• This additional insurance covers losses suffered
  by the Skanska as a result of faulty design.
• Sum insured Nok 50 mill
• Deductible Consultants cover

18
Specification of the boxes

• Length With Height Weight
  Cost
• Box no 1 80 m 35 m 12 m 18 t Nok 124 mill
• Box no 2 79 m 20 m 12 m 12 t Nok 77 mill
• Box no 3 119 m 20 m 12 m 19 t Nok 106 mill
• Box no 4 154 m 20 m 12 m 21 t Nok 143 mill
• Box no 5 40 m 8 m 12 m 8 t Nok 22 mill
• Weight i 1 000 tons