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…
Latest ruling in 20-year legal battle over environmental disaster goes against the insurer A European Union court has upheld a Spanish court ruling that the London P&I Club must meet $1bn in claims related to the 2002 sinking of the…
During the Annual General Meeting held on 27th May 2022, the Club’s Directors approved North’s financial statements for the financial year that ended on 20th February 2022. The club remains financially strong and has reported a premium growth of 5.6%…
Small craft P&I insurer, Carina, acquired by MECO at the end of 2018, is being rebranded to Aurora, effective July 1st 2022. At this time Munich Re Group will become the underwriters of Aurora, with MECO Group operating as managers…
