Political Risk, Credit & Finance

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

• India’s Mercator said to have hit cash-flow difficulties May 24, 2019
  Mercator, once India’s third largest shipping line, has not paid its 350 crew for the past two months, according to Indian newspaper Hindu ….
• Compliance with MARPOL annex VI “satisfactory” says Paris MoU May 24, 2019
  At the 52nd Committee meeting of the Paris Memorandum of Understanding (Paris MoU) on Port State Control, held in St. Petersburg from May 13th to ….
• Gulf of Guinea: Nigeria, others lose $777m annually to piracy says UN May 24, 2019
  A report by the UN Office on Drugs and Crime (UNODC) has shown that that Nigeria and other countries in the Gulf of Guinea lost $777.1m annually in …..
• Full details of JWC changes to Listed Areas May 23, 2019
  As a result of the recent attacks on four ships by unnamed parties off Fujairah, the Joint War Committee has updated the Listed Areas to reflect the ….
• Willis Re signs strategic agreement with Concirrus May 23, 2019
  Reinsurance broker Willis Re has signed a strategic agreement with marine-focused insurtech company ….
• North Korea intensifies campaign for return of ship seized by US May 23, 2019
  North Korea has accelerated its campaign for the US to return cargo ship Wise Honest. In a rare news conference, North Korean UN Ambassador Kim ….
• Insurwave signs Zhuhai Port agreement May 23, 2019
  Marine insurance blockchain joint venture company Insurwave Ltd, a joint venture of EY and Guardtime has signed an agreement with Zhuhai Port ….
• Clean Arctic Alliance expresses frustration at MEPC 74 lack of progress May 22, 2019
  The Clean Arctic Alliance has expressed frustration at IMO member states’ failure to address the risk to the Arctic from emissions of ….
• Long-term disruption possible from move to 0.50% cap May 22, 2019
  A one-to-five year disruption of the oil and refined products markets could be the result of the move to a 0.50% sulphur cap worldwide from ….
• IMO meeting – energy efficiency targets toughened May 22, 2019
  The 74th sitting of the IMO’s Marine Environment Protection Committee (MEPC) ended last Friday May 17th without agreement of any of the ….