Indian refiners are wary of buying Russia crude oil loading after Dec. 5 when European Union sanctions take effect, pending clarity on the proposed G7 price cap mechanism, according to sources familiar with the refiners' crude purchase plans. Chinese refiners…
Standard Club has published a summary on the case of The Eternal Bliss. The Court of Appeal has overturned the previous Commercial Court judgment, concluding that demurrage ‘liquidates the whole of the damages arising from a charterer’s breach of charter…
Russian authorities have banned vessels loaded outside of Russia and Russian-occupied territories from crossing the Kerch Strait from the Black Sea into the Azov Sea. The ban of foreign vessels comes a month after the bombing of the Kerch Strait…
Oil-laden tankers risk being left languishing at sea if insurers do not urgently get clarity on an unfinished G7 and European Union plan to cap the price of Russian crude, two senior industry executives told Reuters. The Group of Seven…
Times are difficult but no need for despair, was the message from Tore Forsmo, Area Manager, Team Norway at The Swedish Club and Vice Chair IUMI, speaking at the Marine Insurance Nordics conference held in Oslo this week. Tore Forsmo,…
In order to ensure that the sanctions imposed by UK, EU and US against Russia are applied identically and consistently across the whole membership, the Club has decided to amend the “Unlawful, prohibited or sanctionable” definition in their Rules with…
Marine markets face a profusion of “total loss” claims for trapped ships early in February 2023, a year after the shut-down of Ukrainian ports, according to a speaker at a market briefing on Wednesday 2nd November in London that was…
Russia said on Wednesday it still saw no progress on easing its exports of fertilisers and grain - parts of the Black Sea grain deal that Moscow views as fundamental to extending the initiative beyond next week. Foreign Ministry spokeswoman…
At the Annual General Meeting of the International Group of P&I Clubs held in Newcastle on 8 November 2022 the appointment of Andrew Cutler as the new Group Chair was approved. Andrew succeeds Paul Jennings who has held the post…
The UK treasury has confirmed it will not allow any British insurers to cover ships carrying Russian oil from December 5. By December 5, tanker owners that fly any European Union flag or carry P&I insurance from an EU or…
