In the British capital, a workshop was held on the topic hosted by the Italian Embassy in the United Kingdom in collaboration with Aon /Aon Re and the law firm ADVANT-Nctm
The cold ironing of Italian ports is making itself known even on the banks of the Thames, attracting not only top figures of the international maritime cluster, but also various representatives of investment funds drawn by the methods and possible financial implications with which Italy is proceeding with the electrification of its docks. Indeed, the workshop “Cold ironing, powering the ports of the future” took place in London, hosted by the Italian Embassy in the United Kingdom in collaboration with Aon /Aon Re and the law firm ADVANT-Nctm. In the audience, representatives of the maritime cluster, delegates to the IMO from some major maritime countries, insurers, and investment funds specialized in infrastructure discussed the development of shore power activities, the challenges related to port electrification, and specifically the coverage of risks associated with these activities. Particular attention was therefore placed on investment opportunities, risk allocation, and insurance solutions connected to this complex energy transition.
Moderating was Giuseppe Spera, Deputy Permanent Representative of Italy to the IMO, who highlighted how “the evolution of ports into energy hubs opens up significant investment opportunities, while requiring substantial capital and close cooperation between port authorities, shipowners, and energy suppliers against the backdrop of European policy initiatives and the IMO’s climate agenda, the success of port electrification represents both a challenge and a strategic opportunity. Its realization depends on a combination of solid regulatory support, capital investments, technological innovation, and effective risk management.”
“Effective infrastructure development must necessarily take into account legal and insurance aspects, primarily to avoid risks related to so-called climate litigation. What would happen, in fact, if the shipowner, whose vessel is equipped with the ‘plug’, could not supply itself with energy from shore due to a lack or malfunction of the system? Who would be responsible? The regulatory framework is broad and unfortunately not always unambiguous; after all, we are talking about a novelty, in which Italy has been able to act with foresight and with a significant investment. Discussing these aspects, and those related to insurance, means placing potential investors in a perspective of greater awareness, thus helping the development of the Country system,” adds Alberto Rossi of ADVANT-Nctm, also in his capacity as Secretary General of Assarmatori.
“With the systematic and concentrated spread of shore power systems, the management of operational risks connected to connecting ships to high-voltage terrestrial electrical grids, including equipment malfunctions, voltage spikes, and potential fires, becomes increasingly important. We have worked to identify the necessary integrations and amendments to the liability coverages currently available to cover new potential risks, without the support of data and statistical experience,” states Giorgio Moroni of Aon Spa.
“We have focused a great deal on searching for insurance capacity from various markets to meet the likely demand for high policy limits for concessionaires’ liability policies. The insurance sector indeed plays a central role, that of guaranteeing the compatibility of the new system from every angle, protecting all operators from economic losses and consolidating confidence in the safety and effectiveness of cold ironing,” concludes Riccardo Barelli of AON Re.
