marine hull insurance News

Other Major US Bridge Collapses Caused by Ships and Barges

A container ship struck a major bridge in Baltimore early Tuesday, [March 26] causing it to plunge into the river below. From 1960 to 2015, there were 35 major bridge collapses worldwide due to ship or barge collision, with a …

Baltimore Bridge May Trigger Historic Marine Loss, Lloyd’s of London Says

Insurance payouts for Tuesday’s collapse of the Francis Scott Key Bridge in Baltimore could be among the largest ever in marine insurance, according to Lloyd’s of London Chief Executive Officer John Neal. “This has the potential to be one of …

Titanic Law Helps Ship Owner Limit Bridge Collapse Liability

The owner of the ship that rammed into a Baltimore bridge could face hundreds of millions of dollars in damage claims after the accident sent vehicles plunging into the water and threw the eastern US transportation network into chaos. But …

Nine Dead After South Korean-Flagged Vessel Capsizes off Japan, South Korea Says

At least nine people were killed when a South Korean-flagged vessel capsized off Japan, South Korea’s foreign ministry said on Thursday. Two South Korean nationals were among the dead, it said, adding that the Japanese coastguard had rescued an Indonesian …

Tanker Capsizes off Coast of Japan, Seven Deaths Confirmed: Media Reports

A South Korean-flagged chemical tanker has capsized off the coast of Yamaguchi prefecture in western Japan, with seven deaths confirmed, public broadcaster NHK reported on Wednesday, citing the coastguard. The tanker, Keoyoung Sun, was anchored due to bad weather and …

Volkswagen Faces Pair of Lawsuits Over Claim Porsche EV Battery Sparked Ship Fire

Volkswagen AG faces a pair of lawsuits in Germany over claims it was the battery in a Porsche electric vehicle that triggered the 2022 fire onboard a massive cargo ship that eventually sank with thousands of cars on board. One …

China Cargo Ship Smashes Through Bridge Sending Vehicles Into River: Reports

A cargo ship slammed into a bridge in southern China, sending several vehicles tumbling into a river. Two people died and three others were missing after the accident Thursday in Guangzhou, state-run Global Times said on X, formerly known as …

Russia Oil Tankers Are Doing Strange Things Since Ramp Up of US Sanctions

There are growing signs that Russia’s oil flows might be facing disruption in the aftermath of a ramp up in US sanctions targeting traders and shipping companies moving the nation’s petroleum. Over the past month or so, a total of …

Grain Ship, Damaged off Coast of Ukraine, Likely Hit Sea Mine: Sources

A merchant ship transporting grains was lightly damaged off the coast of Ukraine and was likely to have been hit by a floating sea mine, according to maritime specialists and a Ukrainian government source. This is the latest incident affecting …

US Sanctions Maritime Companies, Vessels for Shipping Oil Above Russian Price Cap

The U.S. on Thursday imposed sanctions on maritime companies and vessels for shipping Russian oil sold above the G7’s price cap, as Washington seeks to close loopholes in the mechanism designed to punish Moscow for its war in Ukraine. The …