The White House is seeking roughly $4 billion in additional emergency funding from Congress for costs related to the collapse and repair of the Francis Scott Key bridge in Baltimore and to respond to other disasters that have occurred around …
Chubb, the insurer of Baltimore’s Francis Scott Key Bridge that collapsed in March, is preparing to make a $350 million payout to the state of Maryland, the Wall Street Journal reported on Thursday. The payment is expected to be authorized …
The US has opened a criminal investigation into what occurred on a cargo ship before it crashed into Baltimore’s Francis Scott Key Bridge and caused it to collapse last month, according to a person familiar with the probe. Federal Bureau …
Federal investigators looking into what caused a ship to crash into a vital Baltimore bridge last month are honing in on the vessel’s electrical system, US National Transportation Safety Board Chair Jennifer Homendy said Wednesday. The safety board is examining …
The owner of the ship that rammed into a bridge in Baltimore last week, killing six workers and throwing the eastern US transportation network into chaos, is seeking to limit its liability to about $43.7 million. The company, Grace Ocean, …
Ports along the US East Coast are modifying their operations to absorb cargo diverted from Baltimore harbor, where salvage specialists are starting the daunting task of clearing debris from the destroyed Francis Scott Key Bridge. The Port of Virginia, with …
Risk is the “new normal” for the global ocean shipping industry that handles 80% of global trade as pressure from geopolitical tensions, rising protectionism and climate change mounts. “There are going to be global tensions … and I think global …
The cost of war risk insurance through the Red Sea remained stable on Monday despite the sinking of the Rubymar cargo ship as underwriters had already factored in the casualty after it was first hit by a missile last month, …
War underwriters have raised the premiums they charge to U.S., British and Israeli firms by as high as 50% for ships transiting the Red Sea and some providers are avoiding such business due to targeting of the vessels by Yemen’s …
Chinese-owned merchant ships are getting hefty discounts on their insurance when sailing through the Red Sea, another sign of how Houthi attacks in the area are punishing the commercial interests of vessels with ties to the west. The militants began …