shipping insurance News

Sweden Probe Finds No Conclusive Evidence of Deliberate Damage to Subsea Cables

A Swedish probe found no conclusive evidence to suggest that a Chinese ship had deliberately dragged its anchor to damage two Baltic Sea cables, Sweden’s Accident Investigation Authority said on Tuesday, though a separate investigation remains under way. The Yi …

German Court to Review Seizure of Russian ‘Shadow Fleet’ Tanker

A German court will weigh a request to release a seized oil tanker that is believed to be part of a so-called shadow fleet used by Russia to circumvent oil sanctions, Germany’s finance ministry said on Monday. The Panama-flagged vessel, …

Global Shipping Insurance May Shift if Sanctions End, BIMCO Says

The global shipping industry should be open to working with a new group of insurers that emerged to support Russia’s so-called shadow fleet, provided they follow best practice, according to a leading maritime group. The new insurers and P&I clubs …

Germany Confiscates Tanker in Russian ‘Shadow Fleet,’ Spiegel Reports

Germany seized a decrepit tanker found adrift off its northern coast in January that is believed to be part of a shadow fleet used by Russia to circumvent oil sanctions, Spiegel news magazine reported on Friday, citing security sources. The …

Russia’s Rostelecom Says Baltic Sea Cable Damaged, Tass Reports

A Russian underwater cable in the Baltic Sea has been damaged by an unspecified external impact, Tass reported on Saturday, citing the telecommunications provider PJSC Rostelecom. Restoration work is underway and the incident has had no impact on subscribers so …

Oil Executives Call for Cautious Return to Red Sea Navigation

Oil executives called on Thursday [Feb. 6] for a return to navigation through the Red Sea en route to the Suez Canal following a halt in attacks by Iran-backed Houthi rebels, but said firms were cautiously monitoring shipping conditions and …

Russia Faces Impending Oil Tanker Crisis as Sanctions Pile Up: Bloomberg Oil Strategist

Russia appears to be on the cusp of a debilitating oil-freight transportation problem because of US sanctions, writes Bloomberg oil strategist Julian Lee. On Jan. 10, the US Treasury sanctioned 161 oil tankers for their role in moving Russian oil. …

Denmark to Intensify Scrutiny of Russia Shadow-Fleet Tankers

Denmark will ramp up inspections of ships transporting Russian oil through its narrow straits, in an effort to protect the environment and maritime safety from older vessels in Moscow’s shadow fleet. The Danish Maritime Authority will start conducting so-called Port …

Oil Tanker Attacked Last Year Crosses Red Sea as Houthi Ceasefire Holds

Liberian-flagged crude oil tanker Chrysalis, which was attacked by Yemen’s Houthis last year, sailed through the Red Sea this week, the Suez Canal said on Monday, in one of the first voyages since the militia announced a halt in attacks …

US, UK Ships Return to Red Sea After Houthis Vow to Hold Fire

British and American ships are tentatively returning to the Red Sea after Yemen’s Houthi rebels vowed to hold off attacks on vessels linked to both nations, a sign that traffic on one of the world’s main trade routes could normalize …