by AIP Online Bureau | Jul 24, 2023 | International News, Non-Life, Reinsurance, Workplace/Employee Benefits
Additional war risk insurance premiums, which are charged when entering the Black Sea area, need to be renewed every seven days. They already cost thousands of dollars and are expected to go up, given also the risk of floating mines War risk cover for Russia’s...
by AIP Online Bureau | Jul 4, 2023 | Climate, Environment, Renewable Energy, Eco/Invest/Demography, International News
Large shipping companies are already making moves. A.P. Moller-Maersk A/S has ordered 25 vessels that are able to run on green methanol. Rival container shipper CMA CGM is expecting 24 bio-methanol-powered, e-methanol ready vessels to be delivered by 2027 In a grey,...
by AIP Online Bureau | May 22, 2023 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
The largest vessels will have to reduce their drafts — how low they sit in the water — by carrying less or cutting the weight of their cargoes as of May 24, followed by another decrease that kicks in on May 29. Some major ocean carriers have also announced new fees...
by AIP Online Bureau | Feb 22, 2023 | International News, Non-Life, Reinsurance, Risk Management
“The main root cause for cargo fires on container ships is the integrity of dangerous goods throughout the supply chain. Therefore it is a problem that can only be improved through industry wide solutions,” Maersk’s Aslak Ross said separately in a statement. Global...
by AIP Online Bureau | Aug 31, 2022 | International News, Non-Life, Reinsurance
AGCS analysis of over 240,000 marine insurance industry claims over the past five years (with a value of €9.2bn), shows that fire/explosion (from all causes) is the most expensive cause of loss, accounting for 18% of the value of all claims Singapore: Recent incidents...
