IChemE and the Chemical Industries Council of Malaysia (CICM) are pleased to confirm that the third Hazards Asia Pacific process safety symposium will take place in Kuala Lumpur, Malaysia in April 2015. This major process safety conference will build upon the successful previous Hazards Asia Pacific symposiums and is being supported by the Department of Occupational Safety and Health (DOSH), Malaysia.
A recent report by insurance provider, Marsh highlights the sheer scale of financial loss resulting from process safety incidents. It has estimated the combined financial loss from the 100 largest accidents in the hydrocarbon industry (in the period 1974–2013) at over US$34 billion.
With eight new incidents entering the top 100 list since 2011, it’s clear there’s still much work ahead of us to manage process safety effectively. This is especially true since none of the losses in the report could be considered true ‘black swan’ events.
And while the report essentially focuses on property damage losses, it doesn’t reflect the human cost of getting process safety wrong or the consequential damages, such as compensation or reputational damage. Even so, each of the largest 100 losses had a property damage cost of more than US$130 million each in 2013 dollars. Excluding natural disasters, the top 17 incidents also account for 309 fatalities.
The Asia Pacific region is not immune from these incidents, with ten from the region making the top 100 and two of those happening as recently as 2012. The impact of these types of incidents cannot be dismissed. The loss of life, economic impact and environmental harm all result in our communities, politicians and regulators demanding the highest standards from our industries. Hazards AP 2015 provides an excellent forum for sharing and learning, in an effort to prevent a similar incident in your organisation.
We are fortunate to be able to draw upon some of the world’s leading experts and thought-leaders in process safety to host a conference solely designed to help prevent disasters. We recognise that leadership across knowledge and competence, engineering and design, systems and procedures, assurance, human factors and culture are fundamental to managing process safety, and you will see these topics reflected across all the themes at Hazards AP 2015.
We look forward to seeing you in Kuala Lumpur.