The ongoing increase in focus on the variety of alternative fuels as part of the industry’s accelerating attempts to reach Net Zero before the first half of the century is over, is reflected in the just published International Association of Classification Societies (IACS) 2023 Annual Review (link at bottom). This includes the development of a... The post Alternative fuels a focus in IACS annual review appeared first on Insurance Marine News ..read more

The Yemen-based Houthi group have had a couple of weeks off from attacking vessels in the southern Red Sea and north-western Indian Ocean, but on Wednesday they returned, presumably replenished with missiles and drones. The attacked vessels were the Maersk Yorktown (IMO 9289192) and an American destroyer in the Gulf of Aden, plus the MSC... The post Houthis attack three ships appeared first on Insurance Marine News ..read more

Russia’s state-owned Russian National Reinsurance Company (RNRC) has given financial backing to three Russian insurers, reports Reuters, citing two unnamed sources. This will enable the insurers to get Indian approval to provide marine insurance cover to tankers. Sogaz Insurance, Alfastrakhovanie, and VSK Insurance have joined Ingosstrakh as insurers approved by India for providing marine insurance... The post Russian reinsurer backs three domestic primary insurers appeared first on Insurance Marine News ..read more

The Lloyd’s syndicates have now published their results for 2023 and, in some cases, added detail and an outlook for 2024. Some have stuck to the bare bones. As in the previous few years, IMN is summarizing the results from all syndicates that have a notable marine interest, if they have provided some information on... The post Syndicate Results 2023 #19 1458 Renaissance Re appeared first on Insurance Marine News ..read more

The European Commission is expected to propose sanctions on ships delivering North Korean military equipment to Russia, as well as on tankers found to have broken the G7 price cap on Russian oil, according to reports. The EC has not commented on the matter. The Commission this week has been finalizing its proposal for a... The post EU expected to extend Russia sanctions to more ships appeared first on Insurance Marine News ..read more

The Australian Maritime Safety Authority (AMSA) has released its Inspections Annual Report, highlighting a significant increase in maritime safety regulatory activity. The Inspections Annual Report covers AMSA’s inspection activities on domestic commercial vessels (DCVs) such as fishing boats and ferries, as well as regulated Australian vessels and foreign-flagged shipping vessels under Port State Control (PSC).​... The post Australia’s AMSA reports increase in detentions in 2023 appeared first on Insurance Marine News ..read more

Logistics and transport insurer mutual TT Club (TT) collaborated with its members, partners and service providers to compile a toolkit to help its insureds meet the complex demands developing ESG (Environment, Social, Governance) policies present. It provides signposts to strategies and solutions to challenges such as emissions calculation, reduction and reporting. TT CEO Charles Fenton... The post Toolkit from TT Club on how to meet ‘complex’ demands of ESG appeared first on Insurance Marine News ..read more

An obstructed check valve on a bilge pump was the fundamental cause behind the flooding and partial sinking of towing vessel Joanne Marie (MMSI 367509070 ) last year, the US National Transportation Safety Board (NTSB) has found. The incident occurred when the vessel was moored and deactivated at a shipyard on the Harvey Canal near... The post Vessel was flooded because of blocked check valve, NTSB finds appeared first on Insurance Marine News ..read more

Hidden storage locations near main terminals to reduce the risk of detection, plus collaboration from some, possibly planted, personnel, were two trends in the smuggling of drugs from Colombia to Europe and other international locations, according to a report from West of England Club’s Correspondent, A&A Multiprime Corp, in its 2024 Colombia Drug Smuggling Report.... The post Shifting challenges for shipping in fight against Colombian drug smugglers appeared first on Insurance Marine News ..read more

Denmark-based shipping line Maersk has said that it might resume some shipping services at the Port of Baltimore after yesterday’s opening of a temporary channel designed to give access to “commercially essential” vessels. “This channel, with a controlling depth of 20 feet, could potentially allow Maersk and other carriers to operate limited barge services into... The post Maersk could offer limited Baltimore barge service appeared first on Insurance Marine News ..read more