Insuring ships against piracy could become more expensive and subject to tighter conditions after the hijacking this week of oil tanker Irene SL, one of the most long-range attacks to date by Somali pirates. Analysts say the incident, some 1,000 …
No direct threat to ships passing through the strategic Suez Canal waterway exists at the moment, despite unrest in Egypt, a senior official with London’s marine insurance market said on Monday. “We are not seeing anything that would give us …
Somali pirates are increasingly using hijacked merchant vessels with hostage crews as giant motherships to attack deeper into the Indian Ocean, the European Union anti-piracy task force says. Forcing the original crew to operate the ship at gunpoint, pirates can …
UK-based specialist insurer Amlin plc announced that a wholly owned subsidiary has entered into an agreement to acquire Lead Yacht Underwriters Limited from members of Lead Yacht’s board of directors. The transaction remains subject to the approval of the change …
Shipments of bulk cargo such as iron ore on the Great Lakes jumped by one-third last year, a hopeful sign for a region battered by the recession, an industry spokesman said Jan. 19. The Lake Carriers Association credited a gradually …
