Fidelity International is calling for urgent action to address the humanitarian crisis and supply-chain risks caused by the more than 400,000 seafarers who are stranded aboard vessels and a similar number who remain ashore with little prospect for work or …
Australian authorities detained at least two cargo ships for alleged labor violations related to demands from seafarers to be sent home, some of whom have spent more than a year at sea. The ships, which are or will be carrying …
Companies risk losing more than 40% of annual profit once a decade in a world threatened by trade wars, cyber attacks, pandemics and climate change, according to McKinsey & Co., which estimates the COVID-19 crisis could top $5 trillion in …
A new risk to global supply chains is emerging as exhausted seafarers stuck offshore for months halt work, a breaking point caused by restrictions on crew changes amid coronavirus precautions. Three vessels are idled in Australia after crews who worked …
Leading container lines are diverting ships to Lebanon’s smaller terminal of Tripoli after the devastating explosion at Beirut’s port that killed 145 people also paralyzed vital trade. Lebanon, which imports almost all it uses, relies on container ships to bring …
Merchant ship crew members stranded at sea for months due to coronavirus-related travel restrictions could now start refusing to further extend their contracts and stop working, potentially disrupting global trade, the International Transport Workers’ Federation said late Monday [June 15]. …
Germany’s Rhine River is entering dry summer months with water levels at their lowest in two decades, prompting fears of shipping disruption on Europe’s most important inland waterway. After spring showers failed to show in Germany, the official water level …
Reaching out to some of the same risk professionals that respond to the its “Global Risks Report” each year, the World Economic Forum announced the results of a special “COVID-19 Risk Perception Survey,” finding their concerns centered on economic risks …
The UK government has created a £10 billion (US$12.5 billion) reinsurance scheme designed to help businesses during the COVID-19 pandemic by guaranteeing transactions insured by trade credit insurers. The Trade Credit Reinsurance scheme is designed to support UK business-to-business transactions …
Britain’s fruit and vegetable farmers have long dreaded their country’s exit from the European Union, worrying that it would keep out the tens of thousands of Eastern European workers who come every year to pick produce. Now, the coronavirus pandemic …
