The likely insurance ban that both the UK and the European Union are looking to put on any tankers carrying Russian oil anywhere in the world is expected to create a huge further shake-up in…
The tanker market is bound to face another round of shifts in trade flows, with EU’s seaborne imports of Russian oil, effectively banned henceforth. The increased ton-mile demand though, could prove to be beneficial for…
A Code of Practice between the International Group of P&I Clubs and IUMI has recently been agreed in relation to future casualty situations that may give rise to the need for third party salvage services…
With reference to the UK Russia (Sanctions) (EU Exit) Regulations, the UK Government published a General Trade Licence on 17 March 2022 to clarify whether insurers and reinsurers domiciled or operating from the United Kingdom…
UK Cub has said that at the end of the 2021-22 policy year its financial position remained strong, with free reserves of $488m on February 20th 2022. The Club noted that it "continues to comfortably…
Iran has upped the ante in its disagreement with the US and Greece over the confiscation of an Iran-flagged tanker and its cargo of crude. On Friday May 27th the Iranian Revolutionary Guard Corps boarded…
The members of North of England Club and Standard Club have backed the merger of the Clubs. Both clubs held special general meetings on May 27th to approve the proposal to merge the two organizations…
A ship full of Porsches, Bentleys and Lamborghinis catches fire and sinks in the Atlantic. A container vessel ignites and goes down off Sri Lanka. In a sequel to the Even Given accident in the…
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…
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…
