Some shipping sources are not convinced an EU insurance ban will prevent shipowners from seeking Russian barrels as alternative insurance providers from further afield remain an option, they said June 15. Tanker owners are also capitalizing on sky-high freight rates…
THE AMERICAN CLUB’S ANNUAL REPORT AND ACCOUNTS FOR 2021. CLOSING OF THE 2019 POLICY YEAR. LEVYING OF A SUPPPLEMENTARY CALL FOR THE 2020 POLICY YEAR. Annual Report and Accounts for 2021 Your Managers are pleased to attach the American Club’s…
The shipping markets have had to navigate even more turbulent waters so far in 2022, than in the past couple of years, of COVID and supply chain disruptions. In its latest weekly report, shipbroker Allied Shipbroking said that “despite having…
After careful consideration, Norwegian Hull Club has decided to cease its P&I business. First established in 2008, The Club has not succeeded in establishing a profitable P&I portfolio and as a result, it has concluded to terminate the product line…
The US government was thought to be encouraging agricultural and shipping companies, in a quiet and low-key fashion, to buy and carry more Russian fertilizer, reports Bloomberg, citing unnamed people familiar with the efforts. The US move was part of…
Iran's Ports and Maritime Organisation (PMO) said on Tuesday the Iranian-flagged Lana tanker ship seized in April by Greece is no longer impounded and its oil cargo will be returned to its owner, according to Iran's semi-official Mehr news agency…
Work is still needed on methodology and improving results as LNG and chemical carriers stand out as difficult sectors Ship charterers and operators representing more than 15% of bulk cargo transported by sea in 2021 have policies in alignment with…
Two large wind sails developed by BAR Technologies to be retrofitted to five-year-old kamsarmax. A Mitsubishi Corp bulk carrier will be the first ship fitted with BAR Technologies’ WindWings wind sail technology under tests agreed with charterer Cargill. The 80,962-dwt…
Brokers expect short-term bounce after the latest plunge in volatile sector VLGC rates have slumped 30% after propane arbitrage deals proved unworkable between the US Gulf and Asia. The Baltic Exchange's index of spot rates from the Middle East to…
RRussia's state-run Sovcomflot has insured all its cargo ships with Russian insurers and the cover meets international rules, the chief executive said, after Western insurers withdrew cover. Western insurers halted insurance cover for Russia's biggest shipping group when Sovcomflot was…
