Hiscox is committed to a planned insurance consortium providing cover for ships traveling through a safe passage from Ukraine, its chief executive said on Wednesday, as the Lloyd’s of London insurer shares plunged on a first-half loss. The first grain-carrying …
A unit of Carlyle International Energy Partners LP has assumed the full risks of operating a new gas field in the Romanian waters of the Black Sea as insurers shun the zone because of its proximity to the war in …
As the United Nations tries to broker a path for grain from Ukraine and temper worries about a global food crisis, hundreds of mines laid along the Black Sea present a practical nightmare that will take months to resolve even …
Removing sea mines near Ukraine’s key ports could take months, and hundreds of seafarers are still stranded in the region following Russia’s invasion of the country, according to the United Nations agency responsible for shipping safety. “Even if the ports …
Iran’s seizure of two Greek oil tankers in the Persian Gulf raises the risk of further interruptions to shipments from a region that’s a vital source of global energy supplies. On Friday, the Islamic Revolutionary Guard Corps diverted two Greek …
Insurance premiums are doubling or more for some aviation and marine business particularly exposed to the war in Ukraine, increasing costs for airline and shipping firms, industry sources say. Global commercial insurance premiums rose 11% on average in the first …
The cost of insuring merchant ships sailing to ports in the Black Sea has spiraled out of control, becoming a huge potential impediment to the movement of Russian cargoes from the region. Underwriters are charging as much as 10% of …
A Dominica-flagged cargo ship sank on Tuesday in the besieged southern Ukrainian port city of Mariupol after being targeted by Russian missile strikes, the vessel’s flag registry said. The Azburg was believed to have been without cargo and at berth …
State-owned Bangladesh Shipping Corp. is seeking $22.4 million from its insurer for a cargo ship hit by a missile in March, government officials with knowledge of the talks said, in the first major marine insurance claim from the conflict in …
This edition of International People Moves details appointments at the broker Howden and two Lloyd’s insurers: Apollo Syndicate Management and Atrium Underwriting. A summary of these new hires follows here. Howden Appoints Swiss Re’s Cochrane as Head of Energy Transformation …
