CMA Shipping 38th Annual Expo & Conference
Hilton Stamford Hotel & Executive Meeting Center
1 First Stamford Place
Blank Rome LLP is proud to be a Silver Sponsor of the Connecticut Maritime Association’s (“CMA”) Shipping 38th Annual Expo & Conference, which will be held March 21 through 23, 2023, in Stamford, Connecticut. Partner Thomas H. Belknap and of counsel Dana S. Merkel will serve as presenters at the conference.
ABOUT TOM’S SESSION
Tom will present “A Closer Look at Offshore Wind Output and Infrastructure Development” on Wednesday, March 22, at 3:15 p.m.
Global capacity of large-scale wind farms is expected to increase 10-fold, from 34 GW in 2020 to 330 GW in 2030 and spread throughout 24 countries (up from nine today), according to a report by consultancy Wood McKenzie. It estimated that one trillion dollars would flow into the offshore wind industry over the next decade. Putting further wind in the sails of the renewables sector, the Biden administration unveiled its Floating Offshore Wind Shot in September. It aims to “reduce the costs of floating technologies by more than 70 percent by 2035, to $45 per megawatt-hour” and increase capacity to 15 GW by 2035, enough to power five million homes. This is in addition to the 30 GW by 2030 of offshore wind power target, which will be mainly met through “fixed-bottom” technology. In this session we take a closer look at offshore wind infrastructure development and its output.
ABOUT DANA’S SESSION
Dana will join Mike Salthouse, Head of External Affairs at NorthStandard, to present “Insurance & Risk Management Round Table” on Thursday, March 23, from 2:25 to 3:15 p.m.
Although the long-term positive safety trend for the global shipping industry continues—total losses have more than halved over the past decade—a number of factors are leading to ever larger claims. Fire/explosion is now the most expensive driver of claims activity, while at a time of rising exposures and inflation, cargo damage is the most frequent cause of loss, following an increase in both attritional and high-value claims. At the same time, the effects of climate change and the transition to net-zero are becoming a feature of claims activity—a development that will only increase in time—all against the backdrop of the damage and disruption caused by Russia’s invasion of Ukraine. Undeniably, the relationship between operators and insurers and lawyers has become more important than ever, and more than ever based on collaboration and consultancy.
For more information or to register to attend, please visit the conference website.