war risks News

US Sanctions Maritime Companies, Vessels for Shipping Oil Above Russian Price Cap

The U.S. on Thursday imposed sanctions on maritime companies and vessels for shipping Russian oil sold above the G7’s price cap, as Washington seeks to close loopholes in the mechanism designed to punish Moscow for its war in Ukraine. The …

Update: Ukraine Launches Grain Insurance Program With Marsh McLennan, Lloyd’s

Ukraine is starting an insurance program with broker Marsh McLennan and Lloyd’s of London to provide cover for grain vessels sailing from Ukraine’s deep-sea ports, just days after a ship was hit by a Russian missile. The country is launching …

Israel’s Ship Industry Urges Government to Help With Soaring War Risk Premiums

Ships sailing for Israel face a 10-fold jump in war risk premiums as the conflict in Gaza intensifies, prompting industry calls for the government to help ensure vital imports keep coming. Israel has vowed to annihilate Islamist group Hamas after …

Three Baltic Pipe and Cable Incidents ‘Are Related’: Estonia

The three incidents that resulted in damage to a gas pipeline and two telecom cables between Estonia, Finland and Sweden “are related,” Estonian Prime Minister Kaja Kallas said. Finnish police leading the pipeline investigation have named the Hong-Kong-flagged container carrier …

Probe of Damaged Baltic Sea Pipeline, Telecoms Cable Focuses on Chinese-Owned Ship

Estonia’s investigation into a damaged Baltic Sea telecoms cable will focus on the actions of a Chinese-owned vessel, the country’s prosecutor general said, after Finland blamed damage to a nearby pipeline on a ship. Early on Oct. 8, a gas …

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 …

Baltic States Beef Up Infrastructure Defense After Suspected Pipeline Sabotage

Power grid operators around the Baltic Sea are beefing up protection of subsea cables and other critical infrastructure after the suspected sabotage on a gas link between Finland and Estonia last weekend. Government officials in Lithuania ordered more naval patrols …

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 …

Finland Says Damage to Gas Pipeline, Telecoms Cable Likely Result of Deliberate Act

A subsea gas pipeline and a telecommunications cable connecting Finland and Estonia under the Baltic Sea have been damaged in what may have been a deliberate act, the Finnish government said on Tuesday. NATO Secretary General Jens Stoltenberg said NATO …

Ukraine Says Second Ship to Sail From Odesa Reaches Romania

A Liberian-flagged bulk carrier that was the second ship to sail from Odesa since Russia quit the Black Sea safe-transit deal has reached Romanian waters, said President Volodymyr Zelenskiy. The Singapore-operated Primus successfully navigated the temporary Black Sea corridor set …