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…
The Ocean Shipping Reform Act of 2022 (the Act) was signed by President Biden on Thursday, June 16, 2022. The long term fixes, which require Federal Maritime Commission rule-making, establishes additional requirements requiring the FMC to issue rules related to certain fee assessments…
President Joe Biden on Thursday signed legislation to improve oversight of ocean shipping, which lawmakers say will help curb inflation and ease export backlogs.The bipartisan bill passed the U.S. House of Representatives on a 369-42 vote earlier this week…
The U.S. House of Representatives approved legislation Monday to improve oversight of ocean shipping, which supporters say will help curb inflation and ease export backlogs. The bill was approved 369-42 and will head to the White House for President Joe Biden's signature…
U.S. President Joe Biden on Thursday urged Congress to “crack down” on ocean carriers that have raised shipping prices significantly and helped drive up the cost of goods in the country.“One of the reasons prices have gone up is because a handful…
Police in Bangladesh on Wednesday opened an investigation into eight officials from a shipping container depot after a blaze killed at least 44 people, including 10 firefighters, and injured around 200 others, officials said.Firefighters put out the blaze at the depot in Sitakunda…
Commercial insurer Allianz Global Corporate & Specialty released its Safety & Shipping Review, an annual analysis of shipping losses and accidents worldwide. The 2022 report reveals that the maritime sector continues its long-term positive…
A Singapore trade data sharing platform backed by banks, commodity houses and state firms has signed up 70 participants as part of the city-state's attempts to bolster confidence after a spate of commodity trade finance frauds in recent years…
U.S. Commerce Secretary Gina Raimondo said on Tuesday the Biden administration is actively considering adding new Chinese companies to the government's economic blacklist as it investigates what it calls efforts by China to evade U.S. sanctions…
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…
In a statement submitted to the Special Tripartite Committee (STC) meeting held last week, SRI, the international pan-industry body researching maritime and seafarers’ law, called for more States to ratify the Maritime Labor Convention (MLC) to ensure a level playing field in the shipping industry…
The U.S. Senate on Tuesday confirmed Ann C. Phillips as Administrator of the U.S. Maritime Administration (MARAD), filling a position that has been left vacant at the Department of Transportation (DOT) since January 2021. Phillips was confirmed by a vote of 75-22…
For more than two years, Isaac Larian has used every available tool to overcome global supply-chain bottlenecks and keep retailers stocked with enough Bratz and LOL Surprise! dolls to meet pandemic demand.Asked how he's preparing for this summer's West Coast port labor talks…
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…
The America’s Marine Highways Program is one of several grant programs administered by the U.S. Maritime Administration (MARAD) to promote more effective use of the nation’s navigable waterways. This particular program was established by Congress…
