The international ship registries of Djibouti and the Cook Islands suspended the flags on five oil tankers, following sanctions by the United States this month for having facilitated oil trade for Hezbollah and Iran’s Quds Force, nongovernment organization United Against …
Financial services holding company Ambac Financial Group, Inc. announced that it has acquired majority stakes in both All Trans Risk Solutions, LLC and Capacity Marine Corp, both of Mahwah, New Jersey. All Trans is a managing general underwriter (MGU) specializing …
Howden, the London-based insurance broker, announced it has acquired Seasecure Group, the last remaining independent marine broker in France. Seasecure Group is one of France’s largest marine and cargo insurance brokers, and underlines Howden’s continued investment in expertise and desire …
More than 30 insurers that have paid an estimated $39 million in lost cargo claims, along with cargo owners without insurance, have asked the courts to seize and sell the Japanese vessel ONE Apus to cover their claims. The insurers …
The European Union is considering adding shipping restrictions to its oil sanctions as the bloc continues to discuss the introduction of a price cap on Russian oil, according to people familiar with the matter. A shipping ban would prohibit EU …
PORTLAND, Maine (AP) —A fishing vessel that sank in New England, resulting in the loss of all four fishermen, likely capsized because of poor drainage of seawater from the rear deck and hatches that weren’t watertight, investigators said. The National …
A vessel managed by a company based in Greece transported coal from a port in Russia late last month, after European Union sanctions on the commodity had come into force, according to maritime data reviewed by Bloomberg. The ship, the …
The Group of Seven countries is working to cap the price of Russian oil in an attempt to limit Moscow’s ability to fund its invasion of Ukraine, a plan analysts say could work in the long term but might boost …
The global shipping industry agreed to declassify the Indian Ocean coastline off Somalia as a “high-risk area” following years of successful counter-piracy operations. The change was approved by marine groups including the International Chamber of Shipping and will be operational …
Broker Marsh and Lloyd’s of London insurer Ascot said on Tuesday they have provided coverage for a vessel carrying grain and food products from Ukraine’s Black Sea ports under its new marine cargo and war insurance facility. Launched last month, …
