Payouts for ships trapped in Ukraine have not yet been fully resolved Lloyd’s of London war risk underwriters are holding back reserves for insurance payouts potentially running into hundreds of millions of dollars for ships trapped in Ukraine. The Lloyd’s…
The introduction of the G7 oil price caps – on crude oil last December and on refined products in February – saw Russia state emphatically that it would not work with the price cap. However, the vast majority of seaborne…
International freight and logistics mutual insurer TT Club has announced two new appointments to senior positions as part of its planned succession programme. Kevin King has been promoted to the post of Deputy Chief Executive Officer. Meanwhile, Mark Argentieri has…
The Lloyd’s insurance market will continue to cover Ukraine grain corridor shipments, for now, Lloyd’s chairman Bruce Carnegie-Brown said on Thursday March 23rd. The deal guaranteeing safe exports of grain and fertilizer from three of Ukraine’s Black Sea ports has…
In view of the ongoing war between Russia and Ukraine, the International Group P&I Clubs are now offering cover for vessels transiting and/or calling within ALL Russian waters including their coastal waters up to 12 nautical miles offshore, and Certain…
Further to the finalization of the renewal arrangements for the International Group’s General Excess of Loss Reinsurance Contract (GXL) and Hydra reinsurance program for the forthcoming 2023-24 policy year, please see below rates that will apply per vessel type: …
With reference to the 2023/24 Policy Year P&I Renewals, we are pleased to present our Aries P&I Renewal Snapshot summarizing all announcements released by the 13 International Group Clubs. We hope you will find this presentation to be of some…
MS Amlin has summarized some new and amended IMO regulations, which are coming into force in 2023 and beyond. IMO EEXI and CII measures The Mediterranean Sea becoming a SECA Amendments to the International Convention on Standards of Training, Certification…
UK-based cyber security firm CyberOwl has warned shipmanagement software vendors that it could become a focus of hackers. The company noted that Voyager Worldwide and DNV’s ShipManager software both had been hit by cyber attacks in the past couple of…
Data from MarineTraffic has shown that a considerable number of vessels called at Indian ports in 2022 that will not be allowed in after India introduces its planned ban on older ships. As was reported in IMN last week, under…
