Law firm Reed Smith has advised clients that “the onset of conflict in Ukraine saw businesses scramble to understand and navigate the rafts of new international sanctions which were rapidly introduced by individual states and international bodies” Hyun Woo Kang…
The European Council has agreed in principle to ban seaborne imports of oil from Russia, leaving a carve-out for pipeline shipments in order to secure the vote of Hungary and other states with high dependence on Russian crude. "The sanctions…
The Lloyd's syndicates have now published their results for 2021 and, in some cases, added detail and an outlook for 2022. Some have stuck to the bare bones. As last year, IMN is summarizing the results from all syndicates that…
The Biden administration in the US looks set to permit Venezuela to export oil to Europe. Ever since Russia invaded Ukraine on February 24th the US has been thawing its dealings with Venezuela, partly to replace the oil no longer…
There are growing fears throughout the shipping industry of renewed disruptions and backlogs as China begins renormalizing operations in Shanghai following nearly two months of Covid-related disruption. Vessel diversions increased rapidly starting from mid-April, resulting in a growing amount of…
We recently saw IACS Council Withdrawing Russian Register’s Membership of IACS; the last couple of days we have seen also a number of Classification societies (LR, ABS) withdraw their services from vessels that are controlled, owned or managed by Russian…
Given the current situation in Ukraine and all sanctions imposed the last weeks by US, UK, EU countries and entities, the IACS Council has announced that the Russian Maritime Register of Shipping’s membership of IACS is withdrawn with immediate effect…
North of England & Standard Club have announced that they are exploring the potential combining to jointly create a club. The two are of equal financial strength and this will allow them to compete with Gard in scale and still…
[ 2022 PY Deferred Calls ] [ 2022 PY Entered Tonnage ] [ 2022 PY General Increases ] [ 2022 PY Rebate Values ] [ 2022 PY Release Calls ]
The arrangements for the renewal of the International Group’s General Excess of Loss Reinsurance Contract (GXL) and Hydra reinsurance program for the forthcoming 2022 policy year have now been finalized
