On Wednesday 6 December we welcomed representatives from contractors, developers, insurance, legal firms, and stakeholder groups at the Royal Horseguards Hotel in London to explore solutions to current challenges in offshore wind contracting. Following the launch of IMCA’s first standard T&I contract for offshore wind, Navigating Offshore Wind Contracts featured a range of prominent industry speakers, a passionate panel discussion, and an engaged audience Q&A. Commenting on the Seminar, David Bloom, Director of client engagement – Europe & Africa, at IMCA said: “There were plenty of takeaways for the sector, including a focus from many in the room on the
IMCA’s campaign on sustainable contracting in offshore wind has been recognised by the UK’s first Offshore Wind Champion, and previous co-chair of the Offshore Wind Acceleration Taskforce (May 22 to March 23), Tim Pick. Tim Pick was commissioned by the UK Government to explore the challenges for offshore wind and published his independent report, Seizing Our Opportunities, at the beginning of April. It highlighted that contracting terms in oil and gas are generally more commercially balanced than in offshore wind, noting that: “IMCA’s Renewables Contracting Principles is a helpful piece of thought leadership on this topic.” One of the recommendations
Our campaign for sustainable contracting principles around offshore wind installation is heading to IPF 2023 in Baltimore, USA with IMCA taking part in an industry panel discussion on the topic of allocation of risk in offshore wind contracting. IPF 2023 is the 10th anniversary of the International Offshore Wind Partnering Forum, organised by the Business Network for Offshore Wind. The event, which is the premier offshore wind energy conference in the Americas, welcomes more than 4,000 delegates across three days with global leaders and businesses in the supply chain discussing the latest technical and policy developments in this space. Iain
IMCA’s campaign for fairer contracting principles continues with CEO Allen Leatt recently interviewed in leading industry publication, Energy Voice recently. Speaking to editor Allister Thomas, Leatt reiterated the main point that the supply-side of offshore wind is currently unprofitable, putting at risk global ambitions for the sector. He said: “The allocation of risk is one-sided from developers and their bankers to the supply chain, which is not the case in the oil and gas industry which understands the dynamics of offshore construction and marine environment. As a consequence of this risk allocation, the supply side is largely loss-making, with an
A week after launching the International Marine Contractors Association’s (IMCA’s) newly updated Renewables Contracting Principles (IMCA LCIC 014) with the call for industry collaboration essential to address supply chain losses, IMCA’s CEO, Allen Leatt spoke on 7 February at the Offshore Wind Journal Conference in London with one of his recommendations being the formation of LOWIC: Leading Offshore Wind Industry Competitiveness programme, saying: “IMCA is keen to contribute to this with others”. In a hard-hitting presentation ‘Wind Targets at Risk’, he looked at offshore wind CAPEX, the difficult economic situation being faced by OEMs and contractors and the fact that
The International Marine Contractors Association (IMCA) has published an update to its contracting principles in the marine renewable energy industry. This major piece of work has been essential due to progressively poor market conditions created by unrealistic expectations of the capital costs and risks of developing offshore wind energy. The new publication IMCA Renewables Contracting Principles (IMCA LCIC 014) reviews in detail the contractual challenges faced by industry. IMCA’s CEO Allen Leatt explained the challenges: “Marine contracting in offshore renewables has become increasingly unsustainable, which in turn places the long-term sustainability of the offshore wind energy industry at risk. This
I am pleased to report that our Legal, Contracts, Insurance, and Compliance Committee (LCIC) has recently completed a major piece of work in updating our Renewables Contracting Principles (LCIC 014 Rev 3); and has developed a companion Guidance Document (LCIC 14A) for members highlighting key issues which they need to consider when contracting in the renewables sector. This work has been essential due to market conditions created by the unrealistic expectations of the capital costs and risks of developing offshore wind energy. Greater flexibility and fairness are needed in contracts by allocating the risk to the party who created it,
Highly successful IMCA Contracts & Insurance Seminar attracts contractors, oil companies, legal and insurance firms Code of Conduct for IMCA members to be launched Q4 2018 IMCA-endorsed ‘Doing Business Without Bribery‘ e-learning module lined-up for Q4 2018 launch Two key announcements on ethics and compliance were made at the International Marine Contractors Association’s (IMCA) Contracts & Insurance Seminar, chaired by Nathalie Louys, Subsea 7 General Counsel and Chair of IMCA’s Contracts & Insurance Committee. The half-day seminar was attended by delegates from oil companies, contractors, legal and insurance firms. Focusing on ‘Ethics and compliance – a shared challenge’, Subsea 7’s
Back to the Negotiating Table – Working Together Speakers and delegates from oil companies, contractors and the legal and insurance sectors to attend IMCA Seminar Exploring new ways for oil companies and contractors to work together on sharing risks and liabilities The programme for the International Marine Contractors Association’s (IMCA) Contracts & Insurance Seminar, with its theme ‘Back to the Negotiating Table – Working Together’, has drawn together a stellar list of speakers, and an equally impressive list of delegates, ensuring searching questions from the audience and productive networking. The half-day Seminar is being held on 20 September at the
Back to the Negotiating Table – Working Together Speakers and delegates from oil companies, contractors and the legal and insurance sectors to attend IMCA Seminar Exploring new ways for oil companies and contractors to work together on sharing risks and liabilities The programme for the International Marine Contractors Association’s (IMCA) Contracts & Insurance Seminar, with its theme ‘Back to the Negotiating Table – Working Together‘, has drawn together a stellar list of speakers, and an equally impressive list of delegates, ensuring searching questions from the audience and productive networking. The half-day Seminar is being held on 20 September at the
Experts from oil companies, contractors and the legal and insurance sectors to share their thoughts and opinions on Working Together The share of risks and liabilities requires new ways of oil companies and contractors working together in sensible and pragmatic ways The full programme for ‘Back to the Negotiating Table – Working Together’, the International Marine Contractors Association’s (IMCA) Contracts & Insurance Seminar has been published. Being held on the afternoon of 20 September at the Royal Academy of Engineering in London, it will be chaired by Nathalie Louys, Chair of IMCA’s Contracts & Insurance Committee and Subsea 7’s General
Experts from oil companies, contractors and the legal and insurance sectors to share their thoughts and opinions on Working Together The share of risks and liabilities requires new ways of oil companies and contractors working together in sensible and pragmatic ways The full programme for ‘Back to the Negotiating Table – Working Together’, the International Marine Contractors Association’s (IMCA) Contracts & Insurance Seminar has been published. Being held on the afternoon of 20 September at the Royal Academy of Engineering in London, it will be chaired by Nathalie Louys, Chair of IMCA’s Contracts & Insurance Committee and Subsea 7’s General
‘Seminar theme ‘Back to the Negotiating Table – Working Together Three pillars of discussion – ethics and compliance; maintaining a FAIR risk allocation; and panel discussion on current issues With its theme ‘Back to the Negotiating Table – Working Together’ the International Marine Contractors Association (IMCA) Contracts and Insurance Seminar will be held on 20 September. An afternoon event, being held at the Royal Academy of Engineering at Prince Philip House on London’s Carlton Terrace, the timely seminar will be followed by a networking reception. Like others in the series this year’s seminar will be chaired by Nathalie Louys, Chair
‘Seminar theme ‘Back to the Negotiating Table – Working Together Three pillars of discussion – ethics and compliance; maintaining a FAIR risk allocation; and panel discussion on current issues With its theme ‘Back to the Negotiating Table – Working Together’ the International Marine Contractors Association (IMCA) Contracts and Insurance Seminar will be held on 20 September. An afternoon event, being held at the Royal Academy of Engineering at Prince Philip House on London’s Carlton Terrace, the timely seminar will be followed by a networking reception. Like others in the series this year’s seminar will be chaired by Nathalie Louys, Chair
During 2016 the International Marine Contractors Association (IMCA) announced it had changed its seminar strategy, replacing the traditional large annual event with a series of highly focused technical seminars. These proved very successful, and a commitment was made to build on this strategy in 2017. This has resulted in seven events being scheduled for spring 2017. “Our niche events are tailored to tackle specific topics, bringing together subject matter specialists to discuss solutions to industry issues,” explains Richard Benzie, IMCA’s Technical Director. The Spring 2017 events will be held in London, Stavanger and Amsterdam. Four of the seven events relate
The full programme for the International Marine Contractors Association’s (IMCA) 2016 Contracts and Insurance Seminar – ‘Contracting in the new era’ – being held in London on Wednesday 25 May, is online on the IMCA website at www.imca-int.com. The half-day event at No 4 Hamilton Place focuses on the deterioration in contracting terms in the post-Macondo and post-$100 barrel oil business environment. “In the early 1990s, in the face of prolonged low oil prices, a new mantra emerged – CRINE, Cost Reduction Initiative New Era, it saw operators and contractors working together to find new contracting models which would allow
IMCA’s 2016 Contracts & Insurance Seminar, being held in London at No. 4 Hamilton Place on Wednesday 25 May, will focus on the deterioration in contracting terms in the post-Macondo and post-$100 barrel oil business environment. In particular, the seminar will consider the potential risks of unlimited liability – for pollution, damage to work and consequential losses – and their impact on the marine contracting world. “Unlike our industry’s past response to challenging times, such as in the CRINE era twenty years ago when oil companies and contractors worked together to find better and more efficient ways of contracting, the
IMCA’s 2016 Contracts & Insurance Seminar, being held in London at No. 4 Hamilton Place on Wednesday 25 May, will focus on the deterioration in contracting terms in the post-Macondo and post-$100 barrel oil business environment. In particular, the seminar will consider the potential risks of unlimited liability – for pollution, damage to work and consequential losses – and their impact on the marine contracting world. “Unlike our industry’s past response to challenging times, such as in the CRINE era twenty years ago when oil companies and contractors worked together to find better and more efficient ways of contracting, the
The International Marine Contractors Association (IMCA) has published a variety of guides, templates and discussion documents aimed at raising awareness on contracting issues, promoting discussion and providing tools that may be useful for its contractor members, their clients and sub-contractors, the latest is the series is ‘IMCA Renewables Contracting Principles’ which can be downloaded from the Safety and Legislation section of the IMCA website at www.imca-int.com. “Each of our Contracting Principles’ documents (of which there are now five in addition to a discussion document and other associated documentation) is published as an aide to clients and contractors alongside their in-house
The International Marine Contractors Association (IMCA) has, over the years, published a variety of guides, templates and discussion documents aimed at raising awareness on contracting issues, promoting discussion and providing tools that may be useful for its contractor members, their clients and sub-contractors. In recent years it has held an annual contracting event aimed at updating members, and their clients, on key issues. The latest in this series ‘Contractual Relevance – Lessons Learnt’ will be held on the afternoon of Tuesday 21 May onboard HQS Wellington, Temple Stairs, Victoria Embankment, London. “In the past this has been an ‘invitation only’
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