After a series of quiet and rather uneventful years for the upstream energy market, recent macroeconomic and socio-political developments have once again put upstream energy centre stage. Energy supply still heavily depends on hydrocarbons sources. Energy security concerns have forced western...
The Marit and Therese were christened in Norway last week and were due to begin operation this week for Norway’s largest grocery distributor. They are first electric, autonomously operated “sea drones” and are part of a two-year trial period for the vessels to earn full certification for uncrewed...
The marine insurance industry needs to embrace data better if it is to successfully implement its ESG aims, said Patrizia Kern, Chairperson of IUMI’s Data & Digitalization Forum, at this years IUMI conference. She told the audience of underwriters that more data on assureds’ activity was available,...
The Australian Transport Safety Bureau (ATSB) has issued safety recommendations to the managers and parent company of cargo ship BBC Rhonetal (IMO 9614701) following an investigation into a fire in the hold of the vessel at Port Hedland, Western Australia. The ATSB concluded that the managers of...
The International Union of Marine Insurance (IUMI) has reported an 8% increase in cargo insurance premium for 2021, compared with 2020, reaching $18.9bn. There was also an improvement in overall loss ratios. Isabelle Therrien, Chairperson of the IUMI Cargo Committee said at this year’s IUMI...
Shipping lines and container owners in North America have been struggling to get empty boxes back to China. The US is also facing major trucking issues that are making cargo movements within the country difficult, according to Maritime Logistics Professional of Palm Beach, Florida. The monthly...
Passenger/vehicle RoRo Nanashima (IMO 9832365) ran onto the breakwater of Nakajima Port, Nakajima island, Inner Japan Sea, at around noon Tokyo time on September 21st, with 45 passengers on board. The vessel was leaving the port at the time, bound for Matsuyama. It was refloated some two hours...
https://insurancemarinenews.com/insurance-marine-news/marine-accident-round-up-22nd-september-2022/
Yesterday afternoon the annual IUMI conference, held this year in Chicago, Illinois, named Frédéric Denèfle as its new president, succeeding Richard Turner, whose four-year term came to an end at this conference. Denèfle is Managing Director of French marine war risks specialist GAREX. Denèfle’s...
India is considering to allow the overseas shipment of some rice cargoes stuck at ports, a government official told Reuters on Wednesday September 21st, on condition of anonymity. On September 8th India imposed restrictions on rice exports in an attempt to keep domestic prices down. Higher global...
The International Union Of Marine Insurance (IUMI) met this week in Chicago, its first in-person event since Toronto in 2019. While the focus was understandably on the happiness amongst all that face-to-face meetings were back, it was also clear that the pandemic has resulted in some changes to...
https://insurancemarinenews.com/insurance-marine-news/iumi-2022-observations/