Philippine Rescuers Find Bodies of 4 Crew Members of Abandoned Cargo Ship; 9 Missing April 22, 2021 MANILA, Philippines – Rescuers in the southern Philippines found the bodies of four crew members Wednesday and rescued seven others...
Suez Canal Blockage Continues to Disrupt Global Trade, Hitting Supply Chains April 9, 2021 By Jonathan Saul and Timothy Aeppel LONDON/LOS ANGELES – A backlog of container ships carrying consumer goods has grown in some key strategic ports after a...
Reinsurers Will Bear Most of Costs of Container-Ship Grounding in Suez Canal April 8, 2021 By Jonathan Saul and Carolyn Cohn LONDON — Reinsurers are set to foot most of the bill for the grounding of the ship that halted traffic...
Marine Insurers Set to Raise Rates After Red Sea Attacks on Merchant Ships January 13, 2021 By Jonathan Saul LONDON – Insurers are set to raise the cost of providing cover for merchant ships through the Red Sea after...
Panama Threatens Sanctions, Hefty Fines on Ships That Tamper with Transponders June 2, 2020 By Elida Moreno Panama’s Maritime Authority said it will impose sanctions on vessels, including fines of up to $10,000 and withdrawing its flag...
Russia Aims to Boost Arctic Shipping by Subsidizing Higher Costs, Including Insurance October 21, 2019 By Olga Tanas and Dina Khrennikova Russia wants to make its Arctic waters more attractive to shippers than the Suez Canal and could be willing to...
ArgoGlobal Syndicate 1200 to Exit Asia and Global Hull Underwriting September 4, 2019 ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced plans to exit Syndicate 1200’s underwriting operations in Asia and...
UK Navy Stops Iran from Blocking BP Oil Tanker Leaving Persian Gulf July 11, 2019 By Tim Ross and Anthony DiPaola The British navy intervened to stop Iran from blocking a commercial oil tanker leaving the Persian Gulf, heightening friction just...
Insurance for Middle East Oil Shipments Soars to More Than $500,000 June 25, 2019 By Sheela Tobben The cost of insuring Middle East oil shipments is soaring as tensions mount in a region responsible for about a...
As Lloyd’s Jettisons Some Marine Insurance Lines, Opportunities Created for Rivals June 24, 2019 By Carolyn Cohn, Jonathan Saul and Suzanne Barlyn Rivals to Lloyd’s of London are riding a rising tide of marine insurance rates, leaving the 330-year-old market behind after...