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by : Alpha Insurance Analysts Limited

The Hoegh Autoliners owned car carrier, Osaka, ran aground on the Bramble sandbank off the Isle of Wight on the evening of 3rd January 2015. The captain and crew of the vessel and a pilot from Southampton harbour took the decision to run the vessel aground after the Osaka developed a severe list shortly after leaving the port of Southampton. The ship was en route to the Middle East and was carrying a cargo of 1200 Jaguars and Land Rovers, 65 BMW Minis and 80 JCB diggers. All the crew are safe.  The total value of the cargo is estimated to be in the region of £60m. Gard is the P & I insurer of the Osaka and also leads the Hull and Machinery policy. The salvage company, Svitzer, has been appointed to try to salvage some of the cargo and to refloat the vessel. To date, there has been no environmental damage and the vessel is considered to be stable, albeit listing at more than 50 degrees.