Infrastructure News

 

Israel's Ship Industry Urges Government to Help with Jump in War Insurance

Nov 02, 2023

Ships sailing for Israel face a 10-fold jump in war risk premiums as the conflict in Gaza intensifies, prompting industry calls for the government to help ensure vital imports keep coming.Israel has vowed to annihilate Islamist group Hamas after its fighters stormed through Israeli towns from Gaza on Oct. 7, killing 1,400 people and seizing more than 220 hostages.Israeli forces have hit back with deadly air strikes and now a ground offensive on the narrow coastal strip…

Maersk debuts Israel Shipments Surcharge to Cover Insurance

Dec 07, 2023

A.P. Moller-Maersk said it will introduce a risk surcharge next year on container shipments to Israel to cover rising insurance premiums due to the security situation.'Moving into 2024, insurance premiums continue to be raised for vessels bound for Israel…

Marsh, Lloyd's, Ukraine Launch War Risk Ship Insurance to Cut Grain Costs

Nov 15, 2023

Insurance broker Marsh MMC.N, Lloyd's of London insurers and Ukrainian state banks have launched a programme to cut the cost of claims for damage to ships and crew transporting grain through the Black Sea corridor, Marsh said on Wednesday.Kyiv…

TT Club Appoints Regional General Manager for APAC

Oct 09, 2023

Kamel Tlili takes up the role of Regional General Manager Asia-Pacific for international freight and logistics insurer, TT Club based in its Singapore office.Tlili joins TT after a period of six years leading British Marine’s P&I Underwriting Division in Asia at QBE…

Ship Insurance Facility Set Up for Ukraine Grain Exports

Sep 26, 2023

A new marine insurance facility for Ukrainian grain exports using the country's sea corridor has been set up in conjunction with Ukraine's authorities, insurance broker Miller said on Tuesday.Russia quit a U.N.-backed deal in July to enable exports from Ukraine to sail from three approved ports…

Insurers Raise Premiums for Black Sea Tankers as Tensions Mount

Aug 23, 2023

Insurance companies have notified charterers of ships operating in Russia's Black Sea ports of an increase in additional payments known as 'war risk premiums', four traders said.A war risk premium was added to the common insurance costs for…

After Attacking Ukraine Wheat Exports, Russia Faces Own Shipping Challenge

Aug 08, 2023

Russia's lack of ships and Western grain traders' shrinking appetite for business with Moscow are adding to rising costs of moving Russian wheat, at a time when the war in Ukraine has spilled perilously close to vital Black Sea supply routes…

London Marine Insurers Add Sudan to High-risk List

Apr 26, 2023

London’s marine insurance market added Sudan to its of areas deemed high risk this week amid further fighting in the conflict-ridden African country, according to an advisory note.The addition of Sudan to the high risk list will mean that any…

Can Ukraine's Grain Corridor Ease the Global Food Crisis?

Mar 15, 2023

Russia has proposed that a U.N.-backed initiative that has enabled grains to be exported from Ukraine's Black Sea ports should be renewed for just 60 days.The deal to free up grain exports from Ukraine's southern Black Sea ports, which expires later this month…

Ukraine to Set up $500 Million Insurance Fund for Cargo Ships

Feb 27, 2023

Ukraine will offer compensation for possible damages to civilian vessels entering its ports, Deputy Prime Minister Oleksandr Kubrakov said on Friday, as Kyiv tries to boost exports that are vital for its war-hit economy.Ukraine is a major producer and exporter of agricultural products…

Insurers Count the Cost of Ships Snagged in Ukraine Crisis

Feb 24, 2023

Insurers are facing half a billion dollars in claims for up to 60 commercial ships still stuck in Ukraine a year after the start of the war with Russia, industry sources said.When the conflict started, more than 90 merchant ships - many with food cargoes onboard - and some 2…

Black Sea Shipping Rates Soar 20% as Reinsurers Cut Cover

Jan 06, 2023

Costs for hiring ships to transport commodities from the Black Sea have risen by more than a fifth since the start of the year, reflecting higher war risk insurance rates, industry sources said.The Black Sea is crucial for the shipment of grain…

North P&I Launches Mobile App to ease Evidence Gathering

Dec 12, 2022

A new mobile app from North P&I is designed to make collecting evidence on incidents faster, easier and more accurate while enhancing reporting consistency in future claims. ‘The MRCE Handbook’ app from North is aimed to help senior officers…

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…

Logistics News

First LNG Carrier Arrives at New German Mukran Terminal

First LNG Carrier Arrives at New German Mukran Terminal

Brazil's Paranagua Port Resumes Operations After Fire

Brazil's Paranagua Port Resumes Operations After Fire

EU Clears CMA CGM's Acquisition of Bollore Logistics, Subject to Conditions

EU Clears CMA CGM's Acquisition of Bollore Logistics, Subject to Conditions

ZIM Names Trio of LNG Containerships

ZIM Names Trio of LNG Containerships

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