The operator of Felicity Ace, the ship transporting thousands of Porsches, Lamborghinis and other Volkswagen AG vehicles, said Tuesday it assumes the car carrier is still on fire almost a full week after the crew abandoned ship. Two large tugboats …
The cargo ship that caught fire last week carrying about 4,000 Volkswagen AG vehicles could cost the automaker at least $155 million, according to one consultant’s estimate. Of the roughly $438 million total value of goods aboard the Felicity Ace, …
The Felicity Ace, a massive cargo ship carrying thousands of Volkswagen Group vehicles, caught fire near the Azores islands in the Atlantic Ocean Wednesday afternoon. The Panama-flagged ship’s 22 crewmembers were evacuated and taken to a local hotel by the …
COPENHAGEN – Container shipping giant A.P. Moller-Maersk now plans to achieve net zero emissions in its business by 2040, a decade earlier than previously announced, on the back of rising customer demand for green transportation and technical leaps. With about …
FRANKFURT, Germany (AP) – The pipeline is built and being filled with natural gas. But Russia’s Nord Stream 2 faces a rocky road before any gas flows to Germany, with its new leaders adopting a more skeptical tone toward the …
Oil spills, port explosions, blockages in the Suez Canal and supply chain risks. These are just some of the events that global space company Skytek has analyzed over the past year for its insurance industry customers. The company helps insurers …
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 …
Filhet-Allard Maritime, the France-based insurance broker for the commodities trading, shipping and industrial markets, has acquired a controlling stake in Latitude Brokers, a specialist marine broker based in Asia with headquarters in Hong Kong. The acquisition has received regulatory approval …
Allianz Global Corporate & Specialty (AGCS), Allianz’ entity for large-scale corporate and specialty risks, announced the launch of an online marine insurance service designed for UK leisure vessel owners in collaboration with insurtech company Visicover. Visicover’s web-based service lets customers …
Insurance broker Willis Towers Watson announced the launch of a dedicated risk forum for the ports and terminals industry. With ports and terminals client members worldwide, as well as risk forum specialists from Willis Towers Watson, the forum acts as …
