Political Risk, Credit & Finance

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

• Iran seizes foreign ship, detains crew May 19, 2022
  Iranian authorities seized a foreign ship that was alleged to have been attempting to smuggle fuel out of the country. The crew were detained, state news agency IRNA said on ....
• Spanish public prosecutor looks to seize Russian yacht May 19, 2022
  The public prosecutor of Palma da Mallorca, Spain, wants to seize superyacht Tango (IMO 1010703), which it says is owned by Russian individual Viktor Vekselberg .....
• Operator of Mathu Bhum says palm oil on its vessel booked prior to export ban May 19, 2022
  The containers carrying palm oil on the ship Mathu Bhum (IMO 8813647) were booked prior to Indonesia suspending palm oil exports in April (IMN May 10th, May 13th), its operator RCL ....
• The Trinity Spirit ship explosion followed $200m trail of debt defaults May 19, 2022
  The owners of an oil-production and storage ship had a history of financial problems before the vessel blew up in Nigerian waters two months ago, Bloomberg has reported. The Trinity Spirit .....
• CMA CGM to pay bonus for quick return of empty containers May 18, 2022
  Marseille, France based containership operation CMA CGM Group has launched an "early return incentive program" to encourage shippers to returned empty shipping containers promptly to .....
• Khudainatov termed a “straw” owner’ of Russian yachts May 18, 2022
  Eduard Khudainatov, a non-sanctioned Russian individual and president of state-controlled Rosneft OJSC, has become the official beneficial owner of two yachts together worth more than .....
• P&O cancels cruises due to staff shortage May 18, 2022
  P&O Cruises UK has announced the cancellation of cruises aboard the Arcadia (IMO 9226906), extending to June 23rd, due to a shortage of crew members. P&O Cruises said that the extraordinary ....
• Greenpeace blocks Greek tanker with Russian cargo from entering UK port May 17, 2022
  Members of environmental activist group Greenpeace have prevented the entry of a Greece-flagged tanker Andromeda (IMO 9315795) into Navigator Terminals’ Thames site in Essex, England .....
• Russian Navy support ship looks undamaged May 17, 2022
  Recently built Russian naval auxiliary ship Vsevolod Bobrov (IMO 4726999) has returned safely to Sevastopol, without apparent signs of damage, US-backed media outlet Radio Svoboda has .....
• Romanian port is racing to shift Ukrainian grain to global markets May 17, 2022
  The Romanian port of Constanta is under time pressure to achieve the transit of as much Ukrainian "2021" grain as possible before the 2022 harvest becomes available. The need for speed ....