If Britain votes to leave the European Union, the country’s shipping sector faces years of disruption as trade agreements get reworked and currency volatility leads to higher costs at a time when the industry is battling its worst global downturn. …
Ship insurers have stepped in to help plug a shortfall in cover for transporting Iranian oil resulting from the fact that U.S. reinsurers are still restrained by Washington’s sanctions, according to officials involved in the initiative. International oil and shipping …
The Arctic is thawing even faster than lawmakers can formulate new rules to prevent the environmental threat of heavy fuel oil pollution from ships plying an increasingly popular trade route. Average Arctic temperatures are rising twice as fast as elsewhere …
The insurance industry is becoming the latest casualty of the oil price slump, with postponements and cancellations of energy projects forcing down premium rates and income in a market that was already crowded. Insurers forecast income could dive by 20 …
Oil companies looking to steal a jump on rivals in the race to benefit from Iran’s emergence from Western sanctions risk having tankers left in limbo by international insurers’ continued reluctance to provide cover. While companies jockey for position after …
Efforts by Iran to start exporting oil to Europe are being held up as foreign tanker owners are still struggling to secure insurance for cargoes, leading shipping players said on Tuesday. A nuclear deal between world powers and Iran earlier …
Foreign oil tanker owners are expected to make a slow return to Iran despite the lifting of many sanctions as insurers tread carefully, leaving shipping players unwilling to pick up cargoes as quickly as Tehran has wanted. A nuclear deal …
Even after Western sanctions are lifted, Iran’s oil tanker fleet is expected to face more hurdles before many of the vessels can start trading again due to insurance hiccups and tougher requirements over sea worthiness by potential foreign clients. Iran’s …
With Middle East giants Saudi Arabia and Iran squaring up on opposing sides in the Yemen war, the dangers to vital oil tanker and goods voyages are growing daily. Millions of barrels of oil pass through the Bab el-Mandeb and …
International shipping lines are being forced to scale back or suspend port calls to Yemen as the conflict gets worse, putting pressure on supplies of food as prices rise in local markets. Yemen imports more than 90 percent of its …
