by AIP Online Bureau | Nov 12, 2022 | Eco/Invest/Demography, International News, Non-Life
If insurance was withdrawn mid-voyage, buyers and traders would have to figure out what to do with a stranded cargo potentially exposed to sanctions, complicating a strategy to deprive Russia of funds over its invasion of Ukraine. Oil-laden tankers risk being left...
by AIP Online Bureau | Nov 6, 2022 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
The insurance industry has been in limbo about whether and how the UK would follow the EU’s measures, although the expectation was that it would do so London is an important insurance market for the transport of oil. Protection and indemnity insurance covers companies...
by AIP Online Bureau | Oct 12, 2022 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
The bloc’s measures, including a ban on insuring tanker shipments, enter into force on Dec. 5. A Russian cargo still on the water after that date will no longer be covered by a European underwriter or reinsurer. European Union sanctions on Russian oil might still be...
by AIP Online Bureau | Sep 2, 2022 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
The cap would rely heavily on denying London-brokered shipping insurance, which covers about 95% of the world’s tanker fleet, and finance to cargoes priced above the cap. But analysts say that alternatives can be found to circumvent the cap and market forces could...
by AIP Online Bureau | Jul 6, 2022 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Shippers can earn around $1.6 million hauling Russian ESPO oil on a small tanker from the eastern port of Kozmino to China, said shipbrokers. That’s around triple the amount prior to the invasion of Ukraine, based on data compiled by Bloomberg. The lucrative trade has...
