April 28, 2023
Key figures in the insurance industry said rising Russian oil prices are making it harder for them to know if they can lawfully cover Russian cargoes. Since December, buyers of Russian crude oil have only been allowed to access financial …
April 27, 2023
A rise in spot prices for Russian crude oil to above the $60 per barrel cap imposed by western powers has made ship insurers even more nervous of running foul of the rules as they are unable to independently track …
April 3, 2023
A United Nations agency that oversees shipping raised concerns about the shadow fleet of tankers that has emerged to transport oil amid sanctions, calling for more steps to boost safety. States that become aware of ships going dark — or …
May 2, 2022
Just under 500 seafarers remain stuck onboard 109 ships at Ukrainian ports – skeleton crews who were left on board to enable their crew mates to be evacuated amid the conflict with Russia, shipping officials said on Friday. Those remaining …
December 28, 2021
Ocean freight costs are likely to remain high in 2022 as investors and regulators scramble to accelerate decarbonization of the shipping industry and companies grapple with green financing, sources say. Shipping, which transports about 90% of world trade and accounts …
December 15, 2021
Leading companies in the marine insurance industry have joined an initiative linking their underwriting activities with the cutting of carbon emissions from global shipping as pressure builds on the sector to go fully green. Last month countries including the United …
June 4, 2019
Large shipping losses declined by more than 50% in 2018 from the previous year – their lowest level this century, according to Allianz Global Corporate & Specialty SE’s (AGCS) Safety & Shipping Review 2019. In 2018, 46 large ships were …
May 20, 2019
Tougher rules on sulfur emissions from ships will come into effect next year in the biggest shake-up for the oil and shipping industries for decades. United Nations shipping agency the International Maritime Organization (IMO) met in London this week for …
April 5, 2019
The United Nations’ shipping agency is working on tougher measures to clamp down on rogue shipping companies trying to use flag registries fraudulently to conceal their activities, officials said. All commercial ships have to be registered – flagged in a …
November 17, 2017
Ships which do not meet cuts to the amount of sulfur they can burn in their engines risk being declared “unseaworthy,” the International Maritime Organization (IMO) said on Thursday. Shippers and refiner are not sure how they will comply with …