marine hull insurance News

Insurers Get Safety Assurances for Ships Exporting Ukraine Grain Through Black Sea

Ships exporting Ukraine grain through the Black Sea will be protected by a 10 nautical mile buffer zone, according to long-awaited procedures agreed by Russia, Ukraine, Turkey and the United Nations on Monday and seen by Reuters. The United Nations …

More Grain Ships Safely Depart From Ukrainian Black Sea Ports

Two more ships, carrying corn and soybeans, departed from Ukrainian Black Sea ports on Monday, Turkey and Ukraine said, taking the total to ten since the first ship sailed last week under a deal with Russia to unblock Ukrainian grain …

London Insurance Sector Readies $50M Ukraine Grain Cargo Cover

The London insurance sector is preparing to cover Ukrainian grains and fertilizer shipments through a secure corridor, voyages that may need up to $50 million of insurance cover per cargo, industry sources involved said on Wednesday. London’s marine insurance market …

Ukraine Makes 1st Grain Shipment Since Russia’s Invasion in Key Milestone

Ukraine made its first shipment of grain since Russia’s invasion, marking a small but crucial first step toward unlocking the millions of tons of crops piling up in the country and boosting global food supplies. The Razoni, a cargo ship …

Insurers Weigh Covering Ukraine Grain Shipments After Deal to Re-open Black Sea Ports

A number of insurance underwriters are interested in providing cover for grain shipments from Ukraine after an agreement was reached to re-open Black Sea ports, although the first shipments are expected to be weeks away, industry sources said on Friday. …

Ukraine’s Grain Challenge: Clearing Mines, Finding Ships and Insurance, Trusting Putin

Ukraine finally secured a deal aimed at restarting crucial Black Sea grain exports that have been crippled by Russia’s invasion. But getting them going won’t be easy. Government officials from Kyiv and Moscow on Friday signed parallel agreements with Turkey …

Insurers Want Safety Assurances Before Covering Ships Sailing in Ukraine Grain Corridor

Insurers will only be willing to cover ships sailing through a proposed corridor to get Ukrainian grain out if there are arrangements for international navy escorts and a clear strategy to deal with sea mines, underwriters and brokers say. Russia, …

Stricken Bulk Carrier Remains Stranded Near Sydney as Rescue Efforts Fail for 21 Crew

Twenty-one crew members remain aboard a bulk carrier which lost power in turbulent waters near Sydney, after overnight rescue attempts failed. The MV Portland Bay, which has been without power since early Monday, has been off the coast of New …

Russian Oil Tankers Get Their Safety Certification From India via Dubai Company

India is providing safety certification for dozens of ships managed by a Dubai subsidiary of top Russian shipping group Sovcomflot, official data showed, enabling oil exports to India and elsewhere after Western certifiers withdrew their services due to global sanctions …

Sovcomflot’s Cargo Ships Fully Covered by Russian Insurers: CEO

Russia’s state-run Sovcomflot has insured all its cargo ships with Russian insurers and the cover meets international rules, the chief executive said, after Western insurers withdrew cover. Western insurers halted insurance cover for Russia’s biggest shipping group when Sovcomflot was …