Insurers are about to pay state-owned Bangladesh Shipping Corp. (BSC) $22.48 million for its vessel that was hit by a missile during fighting in Ukraine, two officials involved said on Tuesday. The expected settlement is one of the first shipping …
Insurers are facing half a billion dollars in claims for up to 60 commercial ships still stuck in Ukraine a year after the start of the war with Russia, industry sources said. When the conflict started, more than 90 merchant …
LONDON –– Costs for hiring ships to transport commodities from the Black Sea have risen by more than a fifth since the start of the year, reflecting higher war risk insurance rates, industry sources said. The Black Sea is crucial …
LONDON —Ship insurers said they are canceling war risk cover across Russia, Ukraine and Belarus, following an exit from the region by reinsurers in the face of steep losses. Reinsurers, who insure the insurers, typically renew their 12-month contracts with …
ISTANBUL –– Turkey emerged as a critical stumbling block to a complex international plan to deprive Russia of wartime oil revenues as the number of tankers waiting to exit the Black Sea through Turkish straits continued to rise on Friday. …
DUBLIN –– BOC Aviation Ltd. has begun legal action in pursuit of claims against 16 insurers over aircraft the lessor owns that are stuck in Russia, an Irish High Court filing shows. The insurers named in the proceedings, which the …
LONDON/BRUSSELS —Oil-laden tankers risk being left languishing at sea if insurers do not urgently get clarity on an unfinished G7 and European Union plan to cap the price of Russian crude, two senior industry executives told Reuters. The Group of …
LONDON (AP) — Ships loaded with grain departed Ukraine on Tuesday despite Russia suspending its participation in a U.N.-brokered deal that ensures safe wartime passage of critical food supplies meant for parts of the world struggling with hunger. The U.N. …
LONDON –– With the mystery of the blasts that destroyed undersea gas pipelines between Russia and Germany unsolved, Nord Stream 1’s insurers and reinsurers are grappling with how to respond to hundreds of millions of dollars in potential claims. Munich …
COPENHAGEN, Denmark (AP) — The Danish Energy Agency says one of two ruptured natural gas pipelines in the Baltic Sea appears to have stopped leaking natural gas. The agency said on Twitter on Saturday that it had been informed by …