by AIP Online Bureau | Jan 29, 2024 | Eco/Invest/Demography, International News, Risk Management
The Suez Canal, a critical waterway connecting the Mediterranean Sea to the Red Sea, handled approximately 12% to 15% of global trade in 2023. UNCTAD estimates that the trade volume going through the Suez Canal decreased by 42% over the last two months Geneva: The...
by AIP Online Bureau | Nov 8, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
U.N. officials are working to try to revive the deal, which Russia quit a year after it was brokered by the United Nations and Turkey — complaining that its own food and fertilizer exports faced obstacles and that not enough Ukrainian grain was going to countries in...
by AIP Online Bureau | Aug 24, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
The war risk premium was increased from around 1% of the cargo’s cost to some 1.20-1.25%, the traders said The increase means every voyage will cost $200,000 per one Suezmax tanker (can carry 120,000-200,000 tonnes) more if Russian oil is delivered to India. The rise...
by AIP Online Bureau | Aug 16, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Insurance industry sources said rates for additional war risk premiums remained stable on Monday, although there was a possibility of a rise if a ship was damaged or sunk The cost of a Black Sea war risk premium, which is typically renewed every seven days and is in...
by AIP Online Bureau | Aug 15, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Firing on a merchant vessel will ratchet up already acute concerns among shipowners, insurers and commodity traders about the potential dangers of getting ensnared in the Black Sea – the main route that both Ukraine and Russia use to get their agricultural produce to...
