Political Risk, Credit & Finance

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

• “Embrace digitization and disruption or get left behind” May 22, 2018
  Technology providers urged shippers and freight forwarders to embrace the wave of digitization and disruption currently affecting the logistics and supply chain industries, noting …..
• Paris MoU agrees to focus on prevention of air pollution from ships May 22, 2018
  The Paris Memorandum of Understanding on Port State Control (Paris MoU) held its 51st Committee meeting in Cascais, Portugal, from May 7th to May 11th. Anticipating the new maximum limits ….
• Seafarers will continue to receiving wages if held by pirates May 22, 2018
  Seafarers who are being held captive as a result of an act of piracy or armed robbery against ships will continue to receive their wages and entitlements during their period of captivity....
• Somalia defaults on coast guard vessels May 22, 2018
  The delivery of six offshore patrol vessels to Somalia has been thrown into doubt after the country defaulted on its payments, claimed a local news report. The supplier has begun arbitration....
• Australian politician moves to ban live sheep exports May 22, 2018
  Australian backbencher Sussan Ley has introduced legislation to the Australian parliament to ban the export of live sheep. Her move came after the death of 2,400 animals on a ship bound …..
• Endeavour Insurance to merge with SSL Insurance Group May 21, 2018
  Lloyd’s broker and delegated authority specialist Endeavour Insurance Services Limited today is to merge with fellow Lloyd’s and independent specialist marine broker SSL Insurance Group.....
• Implementation of Uganda’s 2017 Insurance Act yet to take effect May 18, 2018
  Uganda's Insurance Regulatory Authority (IRA) is pushing for the enforcement of last year's insurance law, intended to increase the amount of marine insurance undertaken domestically....
• Leading shipping lines declining to make future Iran commitments May 18, 2018
  Switzerland-based container shipping line MSC will stop taking new bookings for Iran due to the decision by the US to re-impose sanctions on Tehran after withdrawing from the JCPOA international ....
• Ince Shipping Group says attack on bulker was from missile May 18, 2018
  Turkish conglomerate Ince Shipping Group has asserted that the explosion on board bulker Ince Inebolu (IMO 9254472) off the port of Saleef, Yemen, last week was caused by a missile ....
• West of England updates on Iran sanctions “wind-down” May 17, 2018
  West Of England Club has informed members that while the dates of reimposition of sanctions against Iran were clear – August 6th for the trade of certain products such as raw and ....