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Insurance

Keep informed with daily analysis and insight into shipping insurance to reduce risk, support reinsurance decisions, manage investments and identify exposure within the maritime industry

Seafarers may break law helping stowaways disembark, West of England P&I club warns

Marine mutual has handled around 300 stowaways in the past three years, head of loss prevention estimates, which could be pointer to a more substantial problem

International Middle East and Africa

Confirmed P&I renewals only at halfway mark with just three weeks to go, brokers claim

‘In the current renewal climate, owners may be feeling that since all clubs are being consistent in their renewal demands, the grass won’t be any greener at a new home,’ one broker says

International Insurance

Former Swedish Club intern returns as chief executive

Nordberg pledges to strengthen financial position after S&P downgrade, and may look for alliances and partnerships with rivals

International Insurance

Hull portfolios well behind decarbonisation trajectories

Scores for insurers worse than scores for banks, say sources, but highlight differences in methodology that they say make direct comparison impossible

International Sustainability

NorthStandard will overtake Gard, says Roppestad

Norwegian marine mutual giant does not attach importance to top slot, and impending merger of two British entities should spur competition

International Norway

IMO number declared invalid after fatal explosions on UK-insured tanker linked to vessel identity fraud

Tanker Smooth Sea 22 identified by UN Security Council report in 2021 as involved in identity laundering scam, yet remained on IMO database until January 17 casualty that killed two and left five missing triggered regulatory re-examination

International Thailand

Small oil spill from boxship reported off Vancouver

The Canadian Coast Guard responded at the weekend to a spill of an estimated 60-100 litres of oil

Canada Danaos

Maersk to switch ships from NorthStandard to Skuld

Last few days ‘mad’ according to one broker, with big slice of market yet to receive offers traditionally sent out by January 20

International Denmark

NorthStandard chiefs say merger ‘now unstoppable’

‘Inevitably there is an element of anxiety which arises because people aren’t sure what role they are going to be performing in the new organisation,’ says Jeremy Grose

International United Kingdom

Piracy incidents in Singapore Strait at seven-year high

Around 65% of all incidents in Asia last year were in the Singapore Strait, according to monitoring group

International Singapore

Pool scheme reinsurance levy set to increase for most vessel types

VLCC owners set to pay around $110,000 per ship, while bill for capesizes will come in at about $55,000

International Insurance

Supply chain fraud risk rising

Digitalisation has made life easier for supply chains, but also for those that prey on them. TT Club is calling for increased vigilance against theft and financial losses

International Containers
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