The owner of the ship that rammed into a bridge in Baltimore last week, killing six workers and throwing the eastern US transportation network into chaos, is seeking to limit its liability to about $43.7 million. The company, Grace Ocean, …
Insurance payouts for Tuesday’s collapse of the Francis Scott Key Bridge in Baltimore could be among the largest ever in marine insurance, according to Lloyd’s of London Chief Executive Officer John Neal. “This has the potential to be one of …
The owner of the ship that rammed into a Baltimore bridge could face hundreds of millions of dollars in damage claims after the accident sent vehicles plunging into the water and threw the eastern US transportation network into chaos. But …
The cost of insuring vessels that will transit the Red Sea jumped again this week after mounting attacks in the region forced some ships to avoid the vital waterway, underscoring the need to secure an area that’s pivotal to global …
Iranian-backed Houthi militants in Yemen have stepped up attacks on vessels in the Red Sea to show their support for Palestinian Islamist group Hamas fighting Israel in Gaza. The attacks, targeting a route that allows East-West trade, especially of oil, …
Maersk Tankers is to insist its fleet of fuel carriers have the option to avoid the Red Sea following an escalation in attacks on merchant ships in the area. The decision, set out in a notice seen by Bloomberg, doesn’t …
Shipping group A.P. Moller-Maersk said on Thursday 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 …
A.P. Moller-Maersk A/S settled a Danish lawsuit against the companies behind a ship that blocked the Suez canal in 2021, forcing shipping lines to delay or divert vessels and causing global disruption of supply lines. “We can confirm that we …
Shipping group Maersk said on Monday it had filed a lawsuit against the owner and operator of container ship Ever Given, which blocked the Suez Canal for six days in 2021, claiming compensation for delays caused by the incident. The …
Shipments of foodstuffs and medical supplies to Russia risk being damaged or spoiled due to significant delays at ports and customs, shipping group Maersk told its customers on Wednesday. Maersk and two other large container lines have temporarily suspended cargo …
