Named Storms’ Season

Named Storms’ Season

June 1st saw the beginning of the 2022 Atlantic hurricane season, which will run through to end of November, and according to weather forecasters it will be a highly active season with lots of storms.

It is the World Meteorological Organization that names the storms, and they have several 21 names’ lists, just in case 21 names will not be enough during a season.
In May, the NOAA (National Oceanic and Atmospheric Administration) predicted a 65% chance of an above-normal hurricane season, a 25% chance of near-normal season and a 10% chance of a below-normal season.

They also expect anywhere between 14 and 21 named storms to develop, six to 10 of which strengthening into hurricanes and three to six likely to become major hurricanes.

The anticipated increased activity is reportedly attributed to several factors.
The ongoing La Niña, likely to persist throughout the hurricane season, warmer sea surface temperatures, weaker tropical winds and greater west African monsoon.

Of course, named storms are anything but unpredictable and for our purposes, as a niche marine insurer, they represent a parameter that is known to operators and for which they account in the price making.
It is for this reason that, regardless of the market level and trends, voyages in the Atlantic, or indeed in the Far East & Indian Ocean during typhoon season, the rates charged are higher that outside season, to include the possible delays at ports.

The losses that are suffered following the impact after a storms on shore facilities, at the port of inland, are often for charterers who cannot put the ship off-hire (they instructed the ship to go there!) or by owners that took a spot voyage whilst waiting to time charter out their ship on longer term.

In the latter case, a price for the voyage will likely have been agreed regardless of the duration of the voyage, so it will be difficult for the owner to renegotiate the freight.

"These delays can fall under several of our shoreside named perils,"

…and if you have any questions you can contact us.