London Club has said that Club income, tonnage growth and its retained claims for 2022-23 to date were in line with budget, although adverse development had persisted on 2021-22 policy year claims and prior year pool claims. The Club recorded a 5.3% loss on investments to mid-November 2022,...
https://insurancemarinenews.com/insurance-marine-news/no-general-increase-at-london-club/
UK Chancellor of the Exchequer Jeremy Hunt confirmed on Thursday November 17th that the government planned to reform the prudential regulatory regime for the UK insurance and long-term savings sector, which would include changes to the systems put in place by the EU’s Solvency II regime nearly a...
Maersk-owned, Australia-based Svitzer has been barred from implementing a lockout of its employees the Fair Work Commission said on November 17th, the eve of the lockout’s scheduled implementation. The FWC confirmed on Friday that it was blocking the planned lockout of tugboat crews by Svitzer,...
https://insurancemarinenews.com/insurance-marine-news/no-lockout-for-svitzer-employees/
The EU’s energy policy chief Kadri Simson has said that the European Union hopes to have its regulations in place for the G7 plan to limit the price of Russian crude oil in time for their start on December 5th. The EU will prohibit Russian crude oil imports starting on that date and on Russian…
The...
West of England Club is to apply a 10% General Increase on P&I premiums for 2023-24. Members with adverse records will experience “additional action”. The standard surcharge for FD&D premiums will be 15% for 2023-24. P&I rules deductibles will be unchanged at $14,000, but other deductibles will...
https://insurancemarinenews.com/insurance-marine-news/west-announces-10-general-increase/
The International group has said that it was aware of Turkey’s proposed changes in requirements for laden oil tankers to evidence P&I cover while in Turkish waters. IG said that it was studying the proposals in order to prepare a response, and that further information would be provided in due...
Though global piracy has fallen to its lowest level in three decades, robbery remained a problem in the waters of the Singapore Strait. Recently seven criminals were caught in the act of stealing scrap metal from a barge towed by the tug Bina Marine 81, according to the Riau Islands Police. A...
North of England Club has noted that from the beginning of 2023 vessels must start collecting data for the reporting of their annual operational carbon intensity indicator (CII) and CII rating, and at first survey after this time, verification of the calculated attained Energy Efficiency Existing...
In a timely move the maritime data firm Spire Global has launched a “dark shipping” detection service which it said could track vessels that manipulate their reported position in order to conceal their activities. The system is designed to identify vessels that turn off Automatic Identification...
https://insurancemarinenews.com/insurance-marine-news/new-dark-shipping-detection-service/
The US has said that an Iranian drone was probably responsible for the attack on oil products tanker Pacific Zircon (IMO 9539573) during the night of Tuesday November 15th. National Security Adviser Jake Sullivan said on Wednesday that the attack was “the latest in a pattern of such actions and...