Ocean Marine News
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Ukraine to Set Up $500M Insurance Fund for Cargo Ships Entering Ports
Feb 24 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...
Ship Insurers’ Exodus From Russia-Ukraine Risks Gathers Momentum
Dec 29 2022 // A host of shipping insurers altered their policies for 2023 to exclude claims linked to Russia’s war in Ukraine, a further sign of the industry’s growing concerns about losses stemming from the conflict. At...
Ship Insurers to Cancel War Risk Cover for Russia, Ukraine Following Reinsurer Exit
Dec 28 2022 // 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...
Coast Guard Blames Pilot for Cargo Ship Grounding in Chesapeake Bay in March
Dec 8 2022 // A Coast Guard investigation into the grounding in March of a cargo ship in the Chesapeake Bay faulted the pilot tasked with helping the ship navigate the waterway, saying he relied too much on one piece of equipment to...
RB Jones Acquires ‘Smart’ Ocean Cargo Business From Corvus
Sep 21 2022 // Specialty risk broker RB Jones announced its marine and energy division has acquired the Smart Cargo Insurance business from Boston-based managing general agent Corvus Insurance. The Corvus ocean cargo product offers an...
Georgia Shrimpers, Businesses File Suits Over Capsized Cargo Ship Pollution
Sep 13 2022 // Fishermen, shrimpers and business owners dependent on coastal tourism have filed lawsuits over pollution caused when a cargo ship capsized off the Georgia coast in 2019. The two federal lawsuits filed last week in Georgia...
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