North P&I and Standard Club announce merger plan to create new global marine insurance force

(Mar 17 2022)

Combination would establish a global marine insurer positioned to thrive in the face of current and emerging challenges and opportunities posed by digitalisation, recruitment, regulation and sustainability.



Oil shipping costs soar for key routes on Russian invasion

(Mar 03 2022)

The escalating crisis over Ukraine has catapulted the cost of shipping oil by sea.



IUMI insurance update – losses, seafarers, carbon

(Feb 07 2022)

The International Union of Marine Insurance (IUMI) provided an update on important issues to tanker operators relating to insurance, including trends in loss rates, seafarer issues and decarbonisation, following its September 2021 annual event.



North P&I Club seeks 15% premium on P&I rates

(Nov 18 2021)

Describing 2021 as “one of the most challenging years on record”, North P&I Club’s latest Pre-Renewal Report, published today, calls for “robust action” in the form of increasing mutual P&I rates at the forthcoming renewal to confront the challenge o...



IUMI – how tanker insurance is changing

(Jul 09 2021)

The International Union of Marine Insurance (IUMI) provided an update on issues affecting marine insurance in new ways over 2020, with some elements specific to tankers, discussing changes to tanker usage affecting risks, cybersecurity, climate chang...



Low sulphur fuel adds $20,000 to annual ship operational costs

(May 20 2021)

The introduction of rules last year to reduce ship sulphur emissions is resulting in a significant hike in operational expenditure for ship managers, with the use of low and very low sulphur fuel potentially resulting in system and engine damage.



IUMI publishes initial findings from its major claims database

(Sep 17 2020)

During this year’s annual International Union of Marine Insurance (IUMI) conference, initial findings from IUMI’s major claims database were made available for the first time.



American P&I Club and ABS Consulting join forces to drive cyber awareness for maritime insurance

(Jul 16 2020)

ABSG Consulting Inc. (ABS Consulting), a subsidiary of ABS focused on safety and risk management, and American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club) have joined forces to provide education, training an...



Baltic Exchange launches new ship operating expenses assessment for LNG and LPG tankers

(May 14 2020)

The Baltic Exchange has added quarterly assessments (GOPEX) on the cost of operating LNG and LPG tankers to its growing suite of shipping investor tools.



New OPEX assessments for tankers

(Apr 30 2020)

The Baltic Exchange has added quarterly assessments of the cost of operating crude oil carrying Aframax tankers and clean product carrying Medium Range (MR) tankers to its growing suite of shipping investor tools.



Spike in enquiries for tanker political violence cover in the Gulf - Reuters

(Jan 23 2020)

Reuters reports insurance brokers saying there has been a spike in enquiries from tanker operators for political violence cover in the Gulf.



War risk premiums may rise - Reuters

(Jan 09 2020)

payments known as war risk premiums for tankers shuttling through the Strait of Hormuz could rise significantly, Reuters reports.



Knock-for-knock carve-outs on the increase

(May 01 2014)

The traditional knock-for-knock regime has been utilised in offshore contracts and related shuttle tanker contracts for many years*.



DNV GL approves Nautisk offering

(Mar 31 2014)

Global chart distributor Nautisk has gained DNV approval for its Neptune pay as you sail (PAYS) solution.



Lisnave- more vessels less work

(Feb 28 2014)

Despite owners spending less money on repairs and competing in a global and highly competitive market, Portuguese shiprepair yard Lisnave handled a higher number of vessels last year.




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Apr-May 2022

Tanker Accident Database - speeding up port calls - causes of enclosed space problems - resolving BWMS problems - investor''s view on LNG fuelled ships