Infrastructure News

 

North and Standard Club Members Approve Merger

May 27, 2022

Members of the North and Standard Clubs have voted to approve the merger between the two marine insurance firms, creating one of the largest providers of mutual cover in the maritime industries.The P&I clubs, which revealed plans to merge earlier this year, each held special general meetings on May 27 where members voted to greenlight the move to join forces as a single, larger mutual insurer. Pending regulatory approval…

International Group of P&I Clubs Publishes Sustainability Report

Sep 26, 2022

The International Group of Protection and Indemnity Clubs (IGP&I) has set out its Sustainability report and updated Correspondents Guidelines to the global network of Protection and Indemnity (P&I) Correspondents listed by its constituent Clubs during its 2022 Correspondents Conference in London…

Post-pandemic world brings heightened risks for shipping

Sep 16, 2022

While the Covid-19 pandemic resulted in few direct claims for the marine insurance sector, the impact on the welfare of crews and the boom in shipping and port congestion, exacerbated by the Ukraine invasion, raises potential safety concerns…

Ascot, Marsh Insure Grain Ship from Ukraine's Black Sea Ports

Aug 23, 2022

Broker Marsh and Lloyd's of London insurer Ascot said on Tuesday they have provided coverage for a vessel carrying grain and food products from Ukraine's Black Sea ports under its new marine cargo and war insurance facility.Launched last month…

Ong Takes Over as TT Club CFO

Aug 08, 2022

Freight transport and logistics insurer TT Club announced EeLain Ong has taken over as chief financial officer (CFO), effective August 1, 2022.  Appointed in April 2022, Ong has shadowed the outgoing CFO Julian Chowdhury in his position for the intervening months prior to his retirement…

The Swedish Club Opens Singapore Office

Aug 04, 2022

The Swedish Club announced it has opened a new full-service office in Singapore, responsible for members in Singapore and other markets in Asia, including India, Japan and Thailand.Brian Png, Team Manager for the Singapore office, said, 'Singapore…

Lloyd's of London's Hiscox to provide insurance for Ukraine grain corridor

Aug 03, 2022

Hiscox is committed to a planned insurance consortium providing cover for ships travelling through a safe passage from Ukraine, its chief executive said on Wednesday, as the Lloyd's of London insurer shares plunged on a first-half loss.The first…

Shipping Arrangements Into Ukraine Still Not Ready

Aug 02, 2022

Key arrangements including procedures for ships still need to be worked out before empty vessels can come in and pick up cargoes from Ukraine using the new grains corridor, a senior London marine insurance market official said on Monday.Turkey…

Marine Insurance: Climate Change Challenges for the Shipping Industry

Jul 29, 2022

With 90% of global trade moved by sea, shipping is a major contributor to climate change. The International Maritime Organization (IMO) estimated that the industry’s greenhouse gas emissions grew by 10% between 2012 and 2018, while the industry’s…

Ship Insurers Sail Into Unknown With Ukraine Grain Risks After Deal Reached

Jul 22, 2022

A number of insurance underwriters are interested in providing cover for grain shipments from Ukraine after an agreement was reached to re-open Black Sea ports, although the first shipments are expected to be weeks away, industry sources said on Friday…

Ship Insurers Seek More Assurances on Ukraine Grain Corridor

Jul 20, 2022

Insurers will only be willing to cover ships sailing through a proposed corridor to get Ukrainian grain out if there are arrangements for international navy escorts and a clear strategy to deal with sea mines, underwriters and brokers say.Russia…

North Joins Maritime Anti-Corruption Network

Jul 13, 2022

Marine insurer North P&I Club announced it has joined the Maritime Anti-Corruption Network (MACN), a global business network that aims to tackle corruption and enable fair trade in shipping.As an MACN member, North joins more than 165 global…

Marine Insurance: CyNav for Ports & Terminals

Jun 01, 2022

WTW has launched CyNav for Ports and Terminals, a cyber solution specifically designed to help address the escalating cyber risks faced by owners and operators in this strategically vital sector of the global maritime supply chain.      The…

Ship Insurance Claims to Rise as Black Sea Remains High Risk Area - Allianz

May 09, 2022

Global insurers are expected to receive multiple marine insurance claims from ships damaged or lost as the conflict in Ukraine spills over into sea lanes, insurer Allianz Global Corporate & Specialty (AGCS) said in a report on Tuesday.Two seafarers…

Marine Insurers Extend High-risk Area to All Russian Waters

Apr 04, 2022

London’s marine insurance market on Monday added all of Russia’s waters to its list of areas deemed high risk, an advisory showed.Guidance from the Joint War Committee, which comprises syndicate members from the Lloyd’s Market Association (LMA)…

Logistics News

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Charleston has Deepest Harbor on US East Coast

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Indian State Will Proceed 'No Matter What' with Protest-hit Adani Port

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METIS Names Polychronopoulou CEO

Freeport Pushes Texas LNG Export Plant Restart to Year End

Freeport Pushes Texas LNG Export Plant Restart to Year End

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