marine hull insurance News

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 …

Houthis Warn Shipowners in New Phase of Red Sea Campaign: Prepare to Be Attacked

On a warm spring night in Athens, shortly before midnight, a senior executive at a Greek shipping company noticed an unusual email had landed in his personal inbox. The message, which was also sent to the manager’s business email address, …

Explosive-Packed Drone Boat Slams Into Oil Tanker in Red Sea

An explosive-laden drone boat slammed into an oil tanker as it sailed past the coast of Yemen, a sign Israeli airstrikes haven’t deterred the country’s Houthi militants from attacking commercial shipping. The 900-foot ship was hit by an uncrewed surface …

Britain Targets Russian LNG Sector With Fresh Shipping Sanctions

Britain on Thursday sanctioned five vessels and two associated entities involved in the shipping of Russian LNG, with the government saying it was using new legal powers for the first time to target LNG vessels directly. “Earlier this year, the …

Russia’s Oil Tanker Firm Sovcomflot Says G-7 Sanctions Make Oil Trade Less Safe

Russia’s state-run oil tanker company Sovcomflot PJSC said that western sanctions on ships moving the nation’s petroleum oil are only serving to heighten environmental risks by forcing some vessels out of mainstream trading. Since late last year, US, European Union …

Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

Marine insurance markets face significant risk from the growth of a shadow fleet of ships hauling oil from sanctioned producers like Russian and Iran, an industry group said. The opaque nature of the ownership of those vessels makes it hard …

EU Navy Starts Towing Stricken Red Sea Oil Tanker Hit by Houthis

The European Union’s naval force said it managed to connect tug boats to a burning oil tanker in the Red Sea, and that the vessel is now being towed away. “The tug boats have successfully connected to the vessel and …