Articles by Jonathan Saul

UN Shipping Agency Seeks to Clamp Down on Rogue Shipping Companies

The United Nations’ shipping agency is working on tougher measures to clamp down on rogue shipping companies trying to use flag registries fraudulently to conceal their activities, officials said. All commercial ships have to be registered – flagged in a …

Lloyd’s Conducts Business Review in Wake of 2017’s $2.6 Billion Loss: Sources

Lloyd’s of London is reviewing all aspects of its business, including its centuries-old structure, to ensure it is cost-competitive and responsive to both clients and members, especially after Britain leaves the EU, industry sources said. The review, coming after a …

U.S. Sanctions Likely to Ban Use of Lloyd’s IT Platform for Processing Iran Insurance

New U.S. sanctions are likely to prevent the use of a Lloyd’s of London IT platform for any Iran insurance, adding to difficulties for European insurers providing cover for the country. European insurers, reinsurers, brokers and shipping firms have been …

UK Marine Insurer Steamship Mutual Chooses Netherlands for Post-Brexit HQ

British ship insurer Steamship Mutual plans to set up a new Dutch subsidiary to ensure continued access to trade in the European Union in case Britain loses single market access. “We are about to apply for a license to establish …

Compensation for Iran Tanker Accident Could Be Complicated by U.S. Sanctions

The reluctance of foreign banks to deal with Iran could complicate any compensation payments resulting from the collision last week of an Iranian oil tanker and a Chinese cargo ship, sources say. The tanker Sanchi, carrying 136,000 tonnes of highly …

UK P&I Insurer Chooses Dublin as EU Headquarters After Brexit

British ship insurer Standard Club is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the second of these specialized providers to opt for Ireland in two days. …

UK P&I Insurer North to Form Dublin Subsidiary as EU Post-Brexit Hub

British ship insurer North is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the first of these specialized providers to announce such a move. Insurers are making …

Cyber Attacks Against Ships’ GPS Systems Prompts Return of Radio as Backup

The risk of cyber attacks targeting ships’ satellite navigation is pushing nations to delve back through history and develop back-up systems with roots in World War Two radio technology. Ships use GPS (Global Positioning System) and other similar devices that …

Global Shipping Still Reeling from Cyber Attack; Insurers Warn of Coverage Gaps

Global shipping is still feeling the effects of a cyber attack that hit A.P. Moller-Maersk two days ago, showing the scale of the damage a computer virus can unleash on the technology dependent and inter-connected industry. About 90 percent of …

UK P&I Clubs Consider Opening EU Outposts in Preparation for Brexit

U.K.-regulated ship insurers are preparing plans to open new outposts in European Union jurisdictions such as Luxembourg and Cyprus, fearing that Brexit will hinder access to the EU’s financial market, industry sources involved say. Britain dominates the global marine insurance …