Turkey warned the world’s oil shippers they will need to prove they’re insured to cross the country’s vital straits, a move that could restrict flows of Russian oil as new European sanctions kick in. The new rule starts Dec. 1, …
Just six weeks before European Union sanctions on Russian oil come into effect, insurers are still unclear as to exactly how they will work. At the heart of the uncertainty is a continued lack of detail surrounding US-led plans, endorsed …
The European Union jolted insurers and shippers by clarifying that a ban on EU entities servicing exports of Russian coal and some fertilizers applies to shipments anywhere in the world. An EU ban on imports of Russian coal and other …
The European Union is seeking to go beyond an import ban on Russian crude, targeting insurers in a move that could dramatically impair Moscow’s ability to ship its oil anywhere in the world. The bloc is proposing to ban European …
Egypt seized a giant container vessel that blocked the Suez Canal last month as it sought compensation of more than $900 million. A court in the city of Ismailia granted a seizure request regarding the Ever Given vessel at the …
An oil tanker was attacked on Sunday in West Africa’s Gulf of Guinea and most of its crew were kidnapped, the latest in a string of incidents highlighting the security risks to shipping in the region. The vessel — an …
Oil tanker owners face spiraling insurance costs to load cargoes from the world’s largest crude-export region after the latest round of attacks on vessels. War risk premiums that owners pay each time they go to the Persian Gulf have now …
Oil tanker owners are turning increasingly nervous about loading cargoes from the world’s largest export region for crude after the latest round of attacks on vessels. Both owners and the companies that charter their ships paused bookings on Thursday as …
Not since 2005 have the world’s insurers considered shipping in the Persian Gulf so dangerous for oil tankers. The Joint War Committee of London’s Lloyd’s Market Association said Friday that it would expand its so-called “listed areas” — those regions …
If European powers are to succeed in holding together a nuclear deal with Iran that the U.S. abandoned a week ago, then one issue they’ll need to consider is the insurance of oil tankers hauling the Persian Gulf country’s crude. …
