August 22, 2011
There is no immediate prospect of Libya being removed from a list of areas deemed high risk by London’s marine insurance market. Underwriters will seek a stable period before looking at de-listing, a market official said on Monday. Libyan government …
August 8, 2011
London’s marine insurance market has added Benin to a list of areas deemed high risk due to an escalation of pirate attacks in the area, a senior official said. Pirates attacked two Panamanian-flagged tankers carrying oil off the coast of …
May 9, 2011
Maritime security firms have come together to create a code of conduct and ethics, prompted by alarm over the rising number of companies without seaborne experience aiming to cash in on the surge in Somali piracy. Increasingly violent attacks on …
March 4, 2011
London’s marine insurance market has added Libya to a list of areas deemed high risk as violence escalates in Africa’s third-largest oil producer, a senior market official said on Friday. Libyan rebels vowing “victory or death” advanced towards the major …
February 11, 2011
Insuring ships against piracy could become more expensive and subject to tighter conditions after the hijacking this week of oil tanker Irene SL, one of the most long-range attacks to date by Somali pirates. Analysts say the incident, some 1,000 …
February 10, 2011
Suspected Somali pirates captured a U.S.-bound tanker carrying around $200 million worth of crude oil in the Indian Ocean on Wednesday in one of the biggest hijackings in the area so far. The Irene SL, the length of three soccer …
January 31, 2011
No direct threat to ships passing through the strategic Suez Canal waterway exists at the moment, despite unrest in Egypt, a senior official with London’s marine insurance market said on Monday. “We are not seeing anything that would give us …
January 31, 2011
No direct threat to ships passing through the strategic Suez Canal waterway exists at the moment, despite unrest in Egypt, a senior official with London’s marine insurance market said on Monday. “We are not seeing anything that would give us …
August 9, 2010
A suspected militant strike on a Japanese-owned tanker illustrates how vulnerable merchant ships are to attack on the high seas with navies stretched fighting Somali piracy, analysts and shipping sources said on Friday. There have been growing concerns for maritime …
August 4, 2010
A militant group linked to al Qaeda said on Wednesday that a suicide bomber was responsible for a mysterious explosion on a Japanese-owned oil tanker a week ago near the Strait of Hormuz. But analysts are sceptical about the belated …