Your guide to IUMI so far
Our roundup of top stories from the Lloyd’s List news desk
All the action from the International Union of Marine Insurance conference, plus autonomous ships, and new developments in shipping tech
THE marine insurance market has shrugged off its bout with coronavirus, with premiums rising strongly last year.
Reporting from this week’s virtual International Union of Marine Insurance conference, finance editor David Osler also has the scoop that China’s hull market has overtaken Lloyd’s in market share, as that country’s share of the world fleet grows.
In other IUMI highlights:
• A bulker carrying containers was forced to return to port in China after a stow collapse under deck — the first concrete sign of trouble after industry hand-wringing about boxes on bulkers;
• The owners and charterers of the Suez-blocking Ever Given are expected to argue that the incident was caused by an error of navigation;
• The Korean Register says insurers should be more aware of the safety drawbacks of alternative fuels (See also: our special feature on the topic from last year here).
Fuels are not the only shipping technology in the spotlight. More partners have joined the blockchain-based container logistics consortium Global Shipping Business Network.
NYK is backing an autonomous ship project. But in the US, dockworkers have refused to work on a containership without crew on board.
The Lloyd’s List View: Smart shipping will divide the industry between the companies with vision and courage, and those sticking with what they know.
Listen Out: DNV maritime chief executive Knut Ørbeck-Nilssen joins us on the podcast to explain how shipowners can comply with decarbonisation rules that have not yet been set.
Meanwhile, in industry people moves:
• BIMCO’s long-serving chief shipping analyst Peter Sand is moving to freight visibility platform Xeneta;
• Cleaves Securities head of research Joakim Hannisdahl is to set up and run a shipping hedge fund;
• Craig Jasienski, who stepped down as chief executive of car carrier Wallenius Wilhelmsen after 30 years with the company, will head up Greece-based Neptune Lines;
• Per Lange, head of Denmark’s Ultrabulk, is stepping down, to be replaced by Per von Appen.
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