cargo insurance News

Toxic Waste Bound for Thailand on Maersk, MSC Cargo Vessels to Return to Europe

Shipping containers bound for Thailand allegedly filled with tons of hazardous industrial waste from Albania are now slated to return to Europe, after environmental groups sounded the alarm they were being illegally exported to Southeast Asia. An A.P. Moller-Maersk A/S …

Thailand Races to Stop Toxic Waste Cargo on MSC, Maersk Ships

Thai authorities are racing to stop about 100 shipping containers allegedly filled with hazardous industrial waste from Albania reaching the nation’s ports. Basel Action Network, a US-based nonprofit that tracks toxic trade which precarviously alerted Malaysia to illegal e-waste shipments, …

Ukraine Boosts Grain Exports Despite Intensified Russian Attacks

Ukraine is scrambling to ship as much grain as it can this summer, taking advantage of military gains it has made in the Black Sea area to boost exports even as Russia has attacked its ports. Ukraine is a major …

Claim on Seized Hemp Shipment Barred, Showing Trickiness of Coverage

International treaties preempt state-based legal actions, giving an air transport company an escape from claims on what a hemp producer said was botched paperwork for an overseas hemp shipment, a federal appeals court said. The ruling by the U.S. 4th …

Markets/Coverages: Loadsure Launches Motor Truck Cargo Insurance

Loadsure, the London-based insurtech MGA, announced the launch of motor truck cargo insurance, a data-powered insurance product, purpose-built for the logistics community. Called “Columbia™ – Motor Truck Cargo and Logistics Services Insurance,” the product targets SME enterprises and will provide …

Markets/Coverages: RSA Insurance and Brit Launch Project Cargo Consortium

RSA Insurance’s UK Specialty Lines business and Brit Ltd. have announced the launch of a new Project Cargo consortium, called “BUILD.” The consortium, one of the largest in the cargo market globally, is now open for business and offers guaranteed …

Here Are Details of Trafigura’s Suit Against Businessman Gupta in Alleged Nickel Fraud

Indian businessman Prateek Gupta asked a London judge on Tuesday to lift an order freezing his personal and business assets, alleging that commodity trader Trafigura failed to disclose full information when it sought the injunction. In a court document, Trafigura …

Trafigura Staff Tried to Hide Nickel ‘Red Flags,’ Gupta Says in Court Document

Staff at Trafigura Group worked with alleged fraudster Prateek Gupta to ensure that their dealings would not raise the suspicion of key lender Citigroup Inc., according to messages made public in the court battle between the two sides. The revelation …

4 Billion Pieces of Paper Keep Global Trade Afloat but Fraud Fuels Push to Digitize

They are relatively easy to fake. Frequently get lost. And can add huge amounts of time to any journey. Yet paper documents still rule in the $25 trillion global cargo trade with four billion of them in circulation at any …

Insurtech MGA Loadsure Partners With WeatherOptics to Boost Cargo Risk Calculations

Loadsure, the London-based insurtech and managing general agent, has partnered with WeatherOptics, a leading weather intelligence platform, with the aim of bringing weather intelligence into its risk calculations. Loadsure directly addresses the global freight underinsurance crisis with data powered, AI-priced, …