Political Risk, Credit & Finance

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

• Sovcomflot back into black November 20, 2018
  Russia-based shipping company Sovcomflot returned to profit in Q3 to September 30th amid signs of a better balance in the tanker market ….
• Fines for misdeclarations in Ukraine November 20, 2018
  Legal firm Lex Marine in Odessa has reminded members of Britannia Club and North of England Club that if ship’s stores were misdeclared in Ukraine, particularly in the port of ….
• Technology and the future of Lloyd’s November 20, 2018
  In the latest Standard Club Technology Bulletin Deputy Underwriter Callum O’Brien noted that the pace of technological change in the shipping industry had accelerated …..
• Taking advantage of the new status quo at Lloyd’s November 20, 2018
  A blogger from insurtech company Concirrus has written on how insurers could take advantage of the leaner Lloyd's marine market in 2019. It noted that four months ago Lloyd’s announced they ….
• Using drones from a ship: Insurance implications November 20, 2018
  In a recent post by Shipowners' Club, drone specialist Martek Marine has looked at the insurance implications of using drones on a ship ….
• Crew safety appeal from dry bulkers to IMO over low sulphur fuel rule November 20, 2018
  UK-based International Association of Dry Cargo Shipowners (Intercargo) has appealed to the UN's International Maritime Organization (IMO) to be cognizant and considerate of the ….
• California says flag country’s AFS certificate is not enough November 19, 2018
  Gard has reported an update in the bio-fouling regulations in California, where the State Land Commission (SLC) clarified the rules under which vessels berthing in California were ….
• ITF says death of seafarer “proves that lashing is dockers’ work November 19, 2018
  The International Transport Workers' Federation (ITF) and European Transport Workers' Federation (ETF) have said that the case of a Filipino seafarer dying in Dublin while doing ….
• No general increase, deductibles unchanged at American Club November 19, 2018
  At its meeting in New York last Thursday November 15th, the American Club Board said that there would be no general increase for the 2019/20 policy year ….
• Helge Ingstad will not reach Haakonsvern before December November 19, 2018
  The Norwegian Defence Ministry has announced that it was not realistic to get stricken €400m frigate Helge Ingstad to Haakonsvern before December. Environmental considerations ….