marine cargo insurance News

Small Plastic Pellets Wash Up on UK Shores After Ship Explosions

Small plastic pellets washed up on the east coast of the UK, a week after two ships collided in the country’s waters. Nurdles, which are used to make plastic products and are usually just a few millimeters in size, were …

North Sea Ship Collision Could Cost Insurers Up to $100M, Hitting Marine Line’s Profits

The collision of a cargo ship and a fuel tanker off the eastern coast of England in the North Sea is likely to hit multiple marine insurance policies, carrying an estimated combined insured value of between $50 million and $100 …

Captain of Container Ship That Crashed Near UK Was Russian

The captain of the Solong container ship that crashed near the UK is a Russian national, the ship’s owner said. The rest of the crew are a mix of Russian and Filipino, shipping company Ernst Russ AG said in a …

Unexplained Ship Collision off UK Coast Triggers Race for Clues

A collision involving a tanker carrying jet fuel for the U.S. military and a container ship off Britain’s coast is an unusual incident that raises questions over what went wrong despite safety measures in place, three shipping and insurance sources …

Stricken Oil Tanker in North Sea Smolders With Hole in Side

A US oil tanker that was struck by a container ship in the North Sea on Monday was smoldering with a gaping hole in its side, footage broadcast by BBC News showed. Focus is now shifting to the environmental impact …

Baltic Sea Countries to Start Checking Insurance Status of Tankers Moving Russian Oil

Twelve European countries are set to clamp down on tankers that move millions of barrels of Russian petroleum around the world — by asking to see how they’re protected against oil spills and other high-cost claims. Nations including Denmark, Estonia, …

Dark Fleet Oil Tanker Caught in Recent Collision Heads to China

A dark-fleet oil tanker that was recently involved in a crash in Southeast Asia is now on its way to China. Ceres I, an aging very-large crude carrier that’s suspected of transporting sanctioned oil, is en route to Zhoushan in …

The Secretive World of Russian Oil Tanker Insurance Revealed

One of the energy market’s open questions since Russia’s invasion of Ukraine has been who’s insuring the tankers moving Moscow’s petroleum against the risk of a catastrophic oil spill. The answer is that while some are still covered by the …

Russian Missile Hits Fourth Cargo Ship in Ukraine This Month

A Russian missile hit a fourth cargo ship in Ukraine this month, as the Kremlin ramps up its attacks on Kyiv’s trade infrastructure. A grain storage facility at Odesa port was attacked on Monday, killing one person and injuring two …

Shipping Containers Are Regularly Lost at Sea. What Happens When They Burst Open?

Russ Lewis has picked up some strange things along the coast of Long Beach Peninsula in Washington state over the years: Hot Wheels bicycle helmets with feather tufts, life-size plastic turkey decoys made for hunters, colorful squirt guns. And Crocs …