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UpWave Emergency

Distressed vessel rescue

Woman paying for a purchase
The Problem

A vessel adrift at sea is likely to have limited time to avoid disaster. Loss of life and massive pollution may result. The necessity to pay whatever it takes to avoid a vessel casualty is motivating for vessel owners and insurers to avoid disaster. For example, in German waters it is required for response times of Emergency Towing Vessels (ETVs) to be less than 2 hours, requiring 8 No permanently maintained large tugs on stand-by distributed along the coast at a cost of €80M p.a. Recent largest vessel accidents costs were - Costa Concordia: €1.2B, Rena: €700M, Amoco Cadiz: $1.6B. Huge fines are likely and public outrage at pollution can damage reputation. Initial engagement with maritime insurance underwriters has provided a positive response to UpWave. The UpWave has the potential to avert individual significant incidents, save costs and reputational damage.

The Solution Is Up-Wave Rescue

A vessel adrift at sea is likely to have limited time to avoid disaster. Loss of life and massive pollution may result. The necessity to pay whatever it takes to avoid a vessel casualty is motivating for vessel owners and insurers to avoid disaster. For example, in German waters it is required for response times of Emergency Towing Vessels (ETVs) to be less than 2 hours, requiring 8 No permanently maintained large tugs on stand-by distributed along the coast at a cost of €80M p.a. Recent largest vessel accidents costs were - Costa Concordia: €1.2B, Rena: €700M, Amoco Cadiz: $1.6B. Huge fines are likely and public outrage at pollution can damage reputation. Initial engagement with maritime insurance underwriters has provided a positive response to UpWave. The UpWave has the potential to avert individual significant incidents, save costs and reputational damage.

Oceans

Technology

Huge fines are likely and public outrage at pollution can damage reputation. Initial engagement with maritime insurance underwriters has provided a positive response to UpWave. The UpWave has the potential to avert individual significant incidents, save costs and reputational damage.