Further tightening in upstream energy insurance capacity is expected

A further tightening in upstream energy capacity was expected later in 2019 because of constraints placed by Lloyd’s, said broker Lloyd & Partners, part of JLT. The broker said in a report that the business plan limits placed by Lloyd’s on medium-to-smaller syndicates in respect of the premium income they write would probably result in…

New head of marine & energy, reinsurance, at Ariel Re

Argo Group subsidiary Ariel Re has named David Martin to the role of Head of Marine & Energy, Reinsurance, effective immediately. Ariel Re said that Martin brought more than 30 years’ experience to the role. He joins from Tokio Millennium Re, where he most recently served as Head of UK underwriting. Martin will report to…

Judge overturns US president’s move on Arctic oil & gas leasing

A federal judge in Alaska has overturned the US President’s attempt to open areas of the Arctic and Atlantic oceans to oil and gas leasing. Late on Friday March 29th US District Court Judge Sharon Gleason kept ex-President Obama’s policy, which placed the Arctic’s Chukchi Sea, part of the Arctic’s Beaufort Sea and a large…

Chinese offshore wind energy consortium launched

Syndicate 2088 (China Re), Canopius syndicate 4444 and Travelers syndicate 5000 are to lead a consortium that will provide coverage for the construction and operation of offshore wind farms in mainland China. Other syndicates taking part will include China Re Group member Chaucer syndicate 1084, Axis syndicate 1686 and GCube Underwriting. The consortium will offer…

Crane collapses at Eni offshore platform: one dead

One person was killed and two more were injured when a crane collapsed during the morning of March 5th at an Italian offshore oil platform run by oil and gas company Eni. The crane toppled from the Barbara F platform, about 60 km off Ancona, hitting supply vessel Aline B and injuring two people aboard…

Iraq completes repairs on Basra offshore oil terminal

Iraq’s state-run Basra Oil Company has completed repairs on a floating oil terminal in the Arabian Gulf that was damaged by a tanker collision earlier this week. An oil tanker collided with a single point mooring (SPM) on January 30th, suffering slight damage, the company said, adding that the incident did not affect the loading…

Marine accident round-up : 4th January 2019

The US Coast Guard has suspended any active search for one remaining unaccounted for crewmember of the adrift vehicles carrier Sincerity Ace (IMO 9519092). Good Samaritans from four merchant vessels were able to rescue 16 of the 21 Sincerity Ace crew, who were forced to abandon the vessel following a fire that broke out on…

Exxon explorer intercepted by Venezuela

The Venezuelan navy intercepted a ship in Guyanese waters over the weekend of December 22nd and 23rd. The vessel was exploring for oil on behalf of Exxon Mobil Corp, Guyana’s foreign ministry said. Venezuela said the incident occurred within its own territory. The incident reflects a 100-years-old border dispute between the two countries, but  a…

AIBN recommends reassessment of regulations re offshore service vessels

The Accident Investigation Board Norway (AIBN) has recommended that the Norwegian Maritime Authority (NA) carry out an assessment of whether its current regulatory framework is sufficient to ensure safety on board offshore vessels that are engaged in complex national and international operations for the petroleum industry. The recommendation comes in AIBN’s report on an explosion…