marine cargo insurance News

Philippines Rushes to Contain Oil Spill From Sunken Tanker

Philippine authorities are rushing to contain an oil spill from a tanker that sank early Thursday, killing one crew member, after Typhoon Gaemi battered the nation. A Philippine-flagged tanker carrying 1.4 million liters of industrial fuel oil capsized 3.6 nautical …

Oil Tanker Insurance Payouts at Risk After UK’s Russia Sanctions

Transfers of oil at sea that involve a recently sanctioned Russian insurer may prevent western firms from paying claims if something goes wrong, a key provider of cover said. Moscow-based Ingosstrakh PJSC has emerged of a major insurer to Russian …

Dark Fleet Caper Exposes Growing Risks in Crowded Malacca Strait

A collision that set two vessels ablaze off Singapore has underlined the growing risks in the crowded Straits of Malacca, as the dark fleet expands and lackluster Chinese demand leaves dozens of the tankers idling. The Ceres I, a 23-year-old …

Update: Oil Tanker That Fled Collision Site Is Detained in Malaysia

A tanker that fled the scene of a fiery Friday collision off Singapore entered the area of Malaysia’s Bertam floating oil terminal on Monday after being tracked down and intercepted by Malaysian authorities, shipping data from LSEG and Kpler showed. …

Cargo Ship Sustains Damage After Houthi Attack in Gulf of Aden

A Singaporean-flagged cargo vessel was hit by Yemen’s Houthi missiles in the Gulf of Aden on Friday, forcing it to return to its last port of call to assess the damage. Iran-aligned Houthis launched ballistic missiles and drones towards the …

Two Oil Tankers on Fire in Waters Near Singapore, Crew Members Rescued

Two large oil tankers were on fire on Friday after colliding near Singapore, the world’s biggest refueling port, with two crew members airlifted to hospital and others rescued from life rafts, authorities and one of the tanker owners said. Singapore …

Russian Tactics Make Secret Tanker Oil Switching Harder to Trace

Two near-identical oil tankers trying to beat western sanctions. A secret transfer of Russian crude halfway between Iran and Oman. A supertanker giving a false location. Welcome to the modern trade in Russian petroleum as western sanctions get tougher. Earlier …

Crew of Capsized Oil Tanker Off Oman Still Missing, Maritime Center Says

The 16-strong crew of a Comoros-flagged oil tanker that capsized off Oman are still missing, the country’s maritime security center said on Tuesday, a day after the sinking was reported. The crew of “Prestige Falcon” comprised 13 Indian nationals and …

UK, EU States to Target Russia’s Shadow Oil Fleet With More Checks

The UK plans to launch a “call to action” this week with a group of European nations to target the so-called shadow fleet of oil tankers that Russia uses to skirt international sanctions, according to people familiar with the matter …

Ships Fleeing the Red Sea Now Face Perilous African Weather

Ships sailing around the southern tip of Africa are wrestling with a bout of bad weather that has already run one vessel aground and seen another lose more than 40 containers overboard. CMA CGM SA said on Thursday that its …