The U.S., UK, Denmark and other countries have called for more action, including increased surveillance, over the booming practice of unregulated oil transfers at sea, as fears grow over potential pollution, according to a paper submitted to the U.N. “These …
Global fuel suppliers are turning to longer and costlier routes that produce more carbon emissions to move their diesel and other products as Western restrictions on Russian cargoes have reshuffled global energy shipping patterns. As a result of the European …
German insurers Allianz and Munich Re have renewed cover for the damaged Russia-controlled Nord Stream 1 gas pipeline, five sources with knowledge of the matter said, indicating that its revival has not been ruled out after an alleged sabotage attack. …
Insurers continue to cover grain shipments from Ukraine through a U.N.-backed corridor although more clarity will be required soon, a senior Lloyd’s of London official said on Thursday, after the export accord was renewed for at least 60 days. The …
An oil tanker runs aground off eastern China, leaking fuel into the water. Another is caught in a collision near Cuba. A third is seized in Spain for drifting out of control. These vessels were part of a “shadow” fleet …
Insurers are about to pay state-owned Bangladesh Shipping Corp. (BSC) $22.48 million for its vessel that was hit by a missile during fighting in Ukraine, two officials involved said on Tuesday. The expected settlement is one of the first shipping …
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 …
The commercial arm of French insurer AXA is reducing cover offered to aviation companies as it seeks to protect the multibillion-euro business after heavy Ukraine-related losses, two underwriting and broking sources told Reuters. One of the top 10 players in …
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 …
Ship insurers said they are canceling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. Reinsurers, who insure the insurers, typically renew their 12-month contracts with insurance …
