Lyras blames ‘particularly adverse trading conditions and underwriting deficits on its mutual P&I business for the last two policy years and a very high level of claims in the current year’ for London’s need for more cash from members
Steady growth said to be built on domestic market, with some Chinese owners ready to pay higher prices on patriotic grounds
‘If the buyer is borrowing funds from the issuing bank, then when the bills of lading pass through the banking chain, the issuing bank will not only hold them physically, but the bank will also have transferred to it a financial interest in the cargo and will have a right of suit,’ says Nicola Cox of West
As mega-ports and inland transportation routes speed up to meet global demand, the ongoing imposition of coronavirus restrictions is a major factor driving up the volume and cost of claims
American Hellenic Hull's upward trajectory has been acknowledged in various ways, not least by the election last year of chief executive Ilias Tsakiris to the prestigious Ocean Hull Committee of IUMI
Our Special Report takes a deep dive into how Greece and Cyprus reached their towering position in maritime trade, and what they must do to keep it
Focus on small ships and inland craft of up to 10,000 gt — typically including tugs, barges, dredgers, ro-ros, fishing boats, and offshore units for oil or renewables operations — vindicated, according to club
‘The problem is that there is little the clubs can do about it. These large incidents are very random in nature and it is to a large extent pot luck which club suffers them,’ report maintains
After a year’s break when they went virtual, the Lloyd’s List Greek Shipping Awards are expected to make an in-person return as the world’s largest shipping industry awards event
Norwegian insurance broker Edge GroupEdge Group has a 2% share of the global marine insurance market but has now been absorbed into a US entity
Broker predictions of a 50% sector-wide hike in P&I rates between now and 2024 is probably overstated, marine mutual head believes, but big increases will be necessary to address rates erosion
Greater emphasis needed on mental health impacts when determining casualty severity, says Qwest
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