Shipping industry sources said specialist equipment and associated procedures have long struggled to keep up with the ever increasing size of commercial vessels.

“The average size of most vessels has increased exponentially over the last 15 years. The ability to salvage these bigger ships has not,” said Peter Townsend, a marine insurance industry veteran.

“The issue is getting containers off essentially a 20-story high building at sea.”

Global Covid toll crosses 3m amid infection resurgence

Apr 6, 2021

“Indeed there is a very serious situation going on in Brazil right now, where we have a number of states in critical condition,” WHO epidemiologist Maria Van Kerkhove told a briefing last Thursday, adding that many hospital intensive care units are more than 90% full.

India reported a record rise in Covid-19 infections on Monday, becoming the second nation after the United States to post more than 100,000 new cases in a day.

Volcanoes and hurricanes become destinations for ethical money

Apr 6, 2021

“Reliable contingency financing for disasters is a very important tool for society,” said Joanna Syroka, senior underwriter and director of new markets at Fermat Capital Management in London. “We’ve seen an increase in inquiries from end-investors who want to understand what ESG means in insurance-linked securities over the past year.”

UK’s Boris Johnson launches mass testing programme as economy reopens

Apr 5, 2021

Johnson, who is expected to confirm plans to relaunch international travel and open sections of the economy later on Monday, said the new mass testing programme would break the chain of transmissions and spot cases without symptoms
Vaccine passports are also being trial led for mass events.

Under the current plan international travel will not resume until May 17 at the earliest.

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