by AIP Online Bureau | Aug 21, 2025 | Eco/Invest/Demography, International News, Risk Management
The guarantee letter should state that vessel owners, managers, and operators have no ties to Israel, and that certain types of cargo, including explosives and radioactive materials or military equipment, are not on board en route to Israel, the second source said....
by AIP Online Bureau | Jul 14, 2025 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Maritime security sources said even though shipping companies must step up due diligence on any tangential link to Israel before sailing through the Red Sea, the risk of attack was still high. Commercial ships still sailing through the Red Sea are broadcasting...
by AIP Online Bureau | Jul 11, 2025 | Eco/Invest/Demography, International News, Non-Life, Reinsurance
Shipowners now have to pay about 1% of a ship’s value if they want to pass through the Red Sea, said Marcus Baker, global head of marine cargo and logistics at Marsh McLennan, the world’s largest insurance broker. That’s up from 0.2% to 0.3% in recent months, a period...
by AIP Online Bureau | Jun 24, 2025 | International News, Non-Life, Reinsurance, Risk Management
Demand for lithium-ion batteries, including in EVs, is bringing a new risk to the global shipping industry, particularly given the value of the vehicles on board the largest car-carrying vessels, according to a report last month by insurance giant Allianz. .A ship...
by AIP Online Bureau | Mar 15, 2025 | Disaster & Management, International News, Non-Life, Reinsurance, Risk Management
The 59-year-old Vladimir Motin was captain of the Portuguese-flagged Solong that hit the Stena Immaculate tanker, carrying military jet fuel, at close to full speed on Monday. Initial concerns of an environmental disaster subsided as assessments showed the jet fuel...
