marine insurance News

Container Shipping Giant Maersk Speeds Up Decarbonization Target by a Decade

COPENHAGEN – Container shipping giant A.P. Moller-Maersk now plans to achieve net zero emissions in its business by 2040, a decade earlier than previously announced, on the back of rising customer demand for green transportation and technical leaps. With about …

Russian Nord Stream 2 Pipeline Faces Big Hurdles Amid Ukraine Tensions

FRANKFURT, Germany (AP) – The pipeline is built and being filled with natural gas. But Russia’s Nord Stream 2 faces a rocky road before any gas flows to Germany, with its new leaders adopting a more skeptical tone toward the …

Found in Space: How Skytek Tracks Supply Chain Risks—and More

Oil spills, port explosions, blockages in the Suez Canal and supply chain risks. These are just some of the events that global space company Skytek has analyzed over the past year for its insurance industry customers. The company helps insurers …

Leading Marine Re/Insurers Join Push to Decarbonize Global Shipping

Leading companies in the marine insurance industry have joined an initiative linking their underwriting activities with the cutting of carbon emissions from global shipping as pressure builds on the sector to go fully green. Last month countries including the United …

Filhet-Allard Maritime Buys Majority Stake in Marine Specialist Latitude Brokers

Filhet-Allard Maritime, the France-based insurance broker for the commodities trading, shipping and industrial markets, has acquired a controlling stake in Latitude Brokers, a specialist marine broker based in Asia with headquarters in Hong Kong. The acquisition has received regulatory approval …

AGCS, Insurtech Visicover Launch Marine Insurance Service for UK Leisure Vessel Owners

Allianz Global Corporate & Specialty (AGCS), Allianz’ entity for large-scale corporate and specialty risks, announced the launch of an online marine insurance service designed for UK leisure vessel owners in collaboration with insurtech company Visicover. Visicover’s web-based service lets customers …

Willis Towers Watson Launches Industry Risk Forum for Ports and Terminals

Insurance broker Willis Towers Watson announced the launch of a dedicated risk forum for the ports and terminals industry. With ports and terminals client members worldwide, as well as risk forum specialists from Willis Towers Watson, the forum acts as …

European Insurers Wary of Rising Threat of Sanctions Against Nord Stream 2 Pipeline

A simmering threat of sanctions against the operator of the $11 billion Nord Stream 2 pipeline risks shutting off cover from European insurers for the politically sensitive project to bring Russian gas directly to Germany. Kremlin-backed energy giant Gazprom leads …

Fertilizer-Maker Yara to Debut World’s 1st Autonomous Electric Container Ship

OSLO – The world’s first fully electric and self-steering container ship, owned by fertilizer maker Yara, is preparing to navigate Norway’s southern coast and play its part in the country’s plans to clean-up its industry. The Yara Birkeland, an 80-meter-long …

Shipowners Make Payments to Free Vessels Detained by Indonesian Navy: Sources

SINGAPORE – More than a dozen shipowners have made payments of about $300,000 apiece to release vessels detained by the Indonesian navy, which said they were anchored illegally in Indonesian waters near Singapore, according to sources with direct knowledge of …