Political Risk, Credit & Finance

The latest changes in political risk, credit, finance that effect the marine insurance market.

• UAE makes crew change concessions April 7, 2020
  The United Arab Emirates (UAE) has eased its restrictions on crew changes amid growing concerns that a lack of international cooperation was leading to some crew on ocean-going vessels ….
• Forced Covid-19 payments could threaten stability of global insurance industry April 7, 2020
  Requiring insurers to cover Covid-19 related losses retroactively could seriously threaten the stability of the global insurance industry, the Global Federation of Insurance Associations ….
• Prolonged layups at Carnival April 7, 2020
  Carnival Corp has said that it expected to put the vast majority of its ships in prolonged layups during the global pause of its cruise operations brought about by the coronavirus ….
• Taiwan fishing boats that anchor abroad set to be quarantined April 7, 2020
  Crews on deep-sea fishing boats that have anchored off other nations or engaged in improper interactions during the Covid-19 pandemic will be subject to a 14-day quarantine on their ….
• BC Ferries suspends some major sailings for 60 days, lays off hundreds April 7, 2020
  British Columbian ferry operator BC Ferries has suspended services along some major routes and is cutting sailings on others after traffic fell dramatically because of the Covid-19 pandemic ….
• Viking Line’s services remain at a reduced level April 7, 2020
  Viking Line has said that it would be continuing to keep service on the Baltic Sea at a reduced level. Four of the Company’s seven vessels would sail primarily with cargo between Finland ….
• Venezuelan Navy ship collides with expedition cruise ship April 6, 2020
  A Venezuelan Navy ship sank on March 30th after she collided with the RCGS Resolute (IMO 9000168) in international waters off the island of La Tortuga. Columbia Cruise Services said that …..
• UK Chamber of Shipping warns that supply services might have to be cut April 6, 2020
  The UK Chamber of Shipping has warned that a huge fall in passenger numbers because of the Covid-19 pandemic meant that it was quickly becoming cheaper to It has called on the …..
• ECSA calls on Brussels, individual governments, for help April 6, 2020
  The board of the European Community Shipowners’ Associations (ECSA) met last week and subsequently called on EU member governments and Brussels to adopt a targeted rescue and recovery ….
• Zaandam and Rotterdam finally dock in Florida April 6, 2020
  A three-week journey along the coasts of two continents and two oceans has come to a temporary halt for the cruise ships Zaandam (IMO 9156527) and Rotterdam, (IMO 9122552) which has ….