Armed guards on a fuel tanker exchanged gunfire with a small boat in the Red Sea, another sign of escalating risks in one of the world’s most crucial waterways. The frequency of attacks in the maritime corridor handling about 12% …
Fresh attacks on vessels in the Red Sea are raising insurance premiums for ships in the region and menacing commerce in a conduit for 12% of world trade. War-risk premiums for some vessels have been climbing since shortly after the …
A spate of attacks on merchant shipping near Yemen and Somalia, likely triggered by the war in Gaza, have prompted the US to warn vessel operators to be extra careful when navigating the region. On Nov. 19, Houthis seized of …
The price of Russia’s flagship oil may have jumped above a Group of Seven imposed cap but that has done little to impede the provision of western services for the trade. The number of ships calling at the nation’s ports …
Ukraine’s government is in talks with insurers to start a new program to cover ships hauling grain through some of the riskiest parts of the Black Sea. The service could start as soon as early September, though a precise framework …
A drone attack on a Russian oil tanker and a warning from Kyiv that more could follow has so far had little impact on insurance costs for oil and commodity carriers in the key Black Sea region, as rates were …
A fleet of tankers that sprouted up out of nowhere to keep Russia’s oil moving has disbanded even faster than it emerged, underscoring the challenges involved in keeping track of who’s helping Moscow to get its petroleum to buyers around …
An armada of tankers ferrying sanctioned oil around the globe is starting to get younger, bucking a months-long trend of using the world’s oldest and most dangerous vessels. Shortly after President Vladimir Putin’s invasion of Ukraine early last year, hundreds …
Singapore’s detentions of oil and chemicals tankers have surged since early last year, highlighting growing concerns over the environmental and safety impact of an expanding fleet of aging vessels plying major shipping lanes. The city-state has held 33 ships for …
A giant oil tanker that was detained in China failed its safety inspection on more than 20 counts, spotlighting the dangers posed by a rapidly expanding fleet of aging vessels sailing the world’s oceans. The ship, currently called the Titan …
