marine insurance News

Israel’s Ashdod Port Toils Under Threat of Rockets as War Risk Insurance Rates Soar

When wailing sirens warn of incoming rockets from Gaza, workers at Israel’s Port of Ashdod stop operations within moments and quickly resume their work minutes later when the all clear is given. It’s an unusual way for a port to …

Update: Rescuers Call Off Efforts to Find Missing Sailors After Cargo Ship Sinks

Rescuers abandoned efforts to find four missing sailors a day after a British cargo ship sank in the North Sea following a collision with a larger vessel. “Due to the numerous operational resources – ships and helicopters – in the …

Oil Tanker Sails to Israeli Red Sea Port to Avoid Conflict

An oil tanker is hauling a cargo of crude toward an Israeli Red Sea port that’s seldom used for crude deliveries after the nation’s main import terminal on the Mediterranean was disrupted by the conflict with Hamas. The shipment underscores …

Ukraine’s Risky Bet on Black Sea Shipping Corridor Pays Off as Ships Stream Into Ports

A steady stream of ships is hauling grain and metals from Ukraine a month after the first inbound vessel sailed through its new shipping corridor in the Black Sea in defiance of Russian threats. More than 30 vessels have called …

Evergreen Line Declares Force Majeure on Israel Shipment: Customer Note

Taiwanese container shipping line Evergreen has declared force majeure on a shipment to the Israeli port of Ashdod, with its Ever Cozy vessel diverted to Haifa further north due to safety concerns, according to a customer note. This is one …

Shipping Traffic Slows at Israel’s Ports as Insurance Premiums Soar

Activity at Israel’s ports is slowing after Saturday’s attacks by Islamist group Hamas on towns close to Gaza, with the cost of insurance premiums for Israeli shipments soaring amid tightening supplies of food stocks, according to sources and data. Israel’s …

Oil Tanker Adrift in Indian Ocean Is Latest Reminder of Dangers of Shadow Fleet

A 26-year-old oil tanker that’s moving fuel for Russia drifted for two days in a busy shipping lane in the Indian Ocean, drawing the attention of industry watchers and maritime safety officials. It’s the latest stark reminder of the environmental …

Germany to Send Air Defenses for Kyiv to Guard Grain Routes

Germany plans to supply additional air defenses for Ukraine to help protect grain shipments from potential Russian attacks, according to people familiar with the matter. Berlin will send one extra IRIS-T air defense system and more than a dozen Gepard …

Freight Rates for Grain Exports via New Black Sea Corridor Fall Sharply, Ukraine Says

A new corridor allowing cargo vessels to carry Ukrainian grain and iron ore from Black Sea ports has significantly lowered freight rates and they are likely to fall further, Ukraine’s farm minister said on Monday. Kyiv launched what it calls …

Ship Insurance Facility Set Up for Ukraine Grain Exports, Broker Miller Says

A new marine insurance facility for Ukrainian grain exports using the country’s sea corridor has been set up in conjunction with Ukraine’s authorities, insurance broker Miller said on Tuesday. Russia quit a U.N.-backed deal in July to enable exports from …