marine insurance News

War Risk Insurance Rates Edge Up After Surge in Red Sea Ship Attacks

War risk insurance premiums edged up for Red Sea voyages after three vessels were attacked in the area on Sunday and fears grow over worsening perils for commercial shipping, maritime and insurance sources said on Monday. The incidents are the …

Multiple Commercial Vessels Attacked in Red Sea

Three commercial vessels came under attack in international waters in the southern Red Sea, the U.S. military said Sunday, as Yemen’s Houthi group claimed drone and missile attacks on two Israeli vessels in the area. The Carney, an American destroyer, …

Maersk Reaches Settlement Over Ship That Blocked Suez Canal

A.P. Moller-Maersk A/S settled a Danish lawsuit against the companies behind a ship that blocked the Suez canal in 2021, forcing shipping lines to delay or divert vessels and causing global disruption of supply lines. “We can confirm that we …

Red Sea Attacks on Ships Spark Safety Concerns for Sailors

Commercial ships face increasing dangers at sea after armed groups have attacked and seized vessels in waters around the Red Sea and off the coast of Yemen, adding to perils for seafarers, shipping officials said on Wednesday. An attempted hijacking …

US Warns of Growing Threats to Ships Sailing Through Red Sea

A spate of attacks on merchant shipping near Yemen and Somalia, likely triggered by the war in Gaza, have prompted the US to warn vessel operators to be extra careful when navigating the region. On Nov. 19, Houthis seized of …

Storms Delay Search for Crew Missing After Turkish Cargo Ship Sinks in Black Sea

Severe storms have delayed a search-and-rescue operation for 12 crew members of a cargo ship that sank off Turkey’s Black Sea coast, Interior Minister Ali Yerlikaya said Monday. The Turkish-flagged Kafkametler sank on Sunday after hitting a breakwater outside the …

Capture of Israeli-Owned Ship Reignites Fears Over Mideast Shipping

An Israeli-owned ship seized in the Red Sea by Iran-backed Houthi rebels in retaliation for the war in Gaza is raising fears over more widespread disruption in one of the world’s busiest shipping routes. The Galaxy Leader, beneficially owned by …

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 …

EU Proposes to Ban Sale of Tankers to Russia to Curb Growth of Shadow Fleet

The European Commission is proposing to ban the sale of tankers for crude oil and petroleum products to Russia to prevent Moscow bypassing western sanctions on Russian oil with a shadow fleet of ships, a proposal by the Commission showed. …

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 …