The Bermuda International Shipping Association (BISA), an organisation currently applying to incorporate, will host a shipping conference as its first major project, BISA secretary Mr. John Sharpe said revealed.

"The Island has seen increased success in recent years and we want to increase our profile even further by incorporating and hosting a conference,'' said BISA council member and conference committee member Mr. John O'Kelly-Lynch. Mr. O'Kelly-Lynch is the president of Atlantic Corporate Management.

The conference is entitled "1995 Bermuda: Charting the Course'' and is slated for October 25-28.

It will cover a number of aspects of the global shipping industry and shipping insurance.

The forum is being held at the Sonesta Beach Hotel.

Those who have been approached to participate include: Bermuda Registrar of Shipping Mr. Ron Bulling, London and Overseas Freighters president Mr. Miles Kulukundis, ACE Ltd.'s executive vice president, underwriting, Mr. Bill Loschert, Bermuda Registry of Shipping principal marine surveyor Mr. David Wright as well as Smedvig Tankships CFO Mr. Gustav Blom are Mr. Dan Sheehan of the US National Pollution Centre and Mr. Joe Angelo of the US Coast Guard associate programme are also scheduled to speak at the conference.

The US Coast Guard last December required ships entering US waters to obtain Certificates of Financial Responsibly (COFRs) to cover potential pollution cleanup costs.

"Many are saying this will be a good time to talk about COFRs because renewals are coming up in January,'' Mr. O'Kelly-Lynch said.

His company, Atlantic, specialises in providing corporate and general business management for shipping companies.

The conference's major sponsors, First Line and Shoreline, are significant issuers of COFRs.

Both were set up in Bermuda exclusively to meet US Oil Pollution Act 1990 COFR requirements and both will likely have top executives speaking at the conference.

BISA was created in 1994 after a task force on shipping under the auspices of the Bermuda International Business Association (BIBA) tabled its report.

That report included recommendations to improve and highlight Bermuda's position as a jurisdiction to register ships, incorporate shipping companies and carry on shipping company operating and management activities.

One recommendation was to establish an association consisting of companies and organisations involved in shipping in Bermuda to act as a forum for the exchange of ideas and to promote the industry.

Representatives from 26 organisations attended the first meeting and a council was elected.

There are now 30 members in the organisation which includes a cross section of Bermuda professionals -- from ship owners and managers to lawyers and accountants as well as members of protection and indemnity clubs.

Recently, BISA members decided to incorporate the organisation under the Companies Act 1981.

"The association decided to incorporate itself to put in place an appropriate structure to host the shipping conference in Bermuda,'' said Conyers, Dill & Pearman partner Mr. John M. Sharpe who is also BISA secretary and a council member.

"For administrative and liability reasons, the council felt that it would be appropriate to incorporate the association as a company limited by guarantee,'' he said.

Companies limited by guarantee are usually non-profit.

BISA's objectives include: Promoting the shipping industry in Bermuda Exchange of shipping information Representation of members by providing views and opinions on shipping matters.

Encourage and promote international awareness of the strengths and benefits of Bermuda as a domicile for shipping business and the strengths and successes of the island of Bermuda Promote community awareness about shipping Promote legislative change and circulate statistics.