In what was described as Malta’s largest-ever drugs bust, 10 tonnes of cannabis resin with a street value of €28.5m were found inside a containership at Malta. The vessel had been sailing towards Libya from Syria. The Maltese government said that the container ship had been followed for days before...
Cargo
Containership difficulties in Antwerp after pilots strike
Harbour pilots at the Port of Antwerp began an indefinite strike last Monday. As many as 40 cargo ships were stranded outside the Belgian port, waiting to berth, with several ultra-large container vessels deciding to divert to the Port of Rotterdam. The strike also has affected operations in the...
Marine accident round-up : 21st September 2018
Storm Ali in the UK caused cruise ship Nautica (IMO 9200938) to detach from its moorings in Greenock, Scotland, and drift away from the dock on September 19th. At the time the majority of passengers were reported to be ashore. “Nautica encountered extremely strong winds which resulted in the...
https://insurancemarinenews.com/insurance-marine-news/marine-accident-round-up-21st-september-2018/
Brown Marmorated Stink Bug (BMSB) seasonal measures introduced
BIMCO has reminded its Members that the Brown Marmorated Stink Bug (BMSB) is an invasive pest native to Asia which poses a high biosecurity risk to Australia. They are more frequently found on goods arriving in Australia between September and April and at these times Australia introduces seasonal...
Consignees claim $200,000 over part-damaged consignment of seeds
A cargo recovery agent was engaged in relation to three containers of seeds that had arrived wet. The cargo had a total value of US$145,000. An initial survey concluded that the wet damage was condensation caused due to the container vents being blocked, thereby preventing air circulation. A...
Capsizing and sinking of fishing vessel Langley Douglas
On the morning of September 11th 2017 commercial fishing vessel Langley Douglas developed a port list, capsized, and subsequently sank 60 miles east of Cape Charles, Virginia. A US Coast Guard helicopter rescued the five people on board. No injuries or pollution were reported. The Langley Douglas...
Outlook for marine cargo insurance challenging, but opportunities remain for underwriters, says IUMI
Marine cargo remained the largest commercial marine line of business in 2017, with global cargo premium reaching $16.1bn, reported Sean Dalton as cargo committee chair of IUMI at the 2018 conference, held in Cape Town. Globally, the cargo line had been unprofitable for several years, with rising...
Investment in African ports loaded too far towards import facilities, says local agent
Although very large investments have been made in African ports, that investment has been focused on container terminals rather than bulk cargo terminals, warned Christian Fassino, deputy general manager at Cote d’Ivoire based Compagnie des Experts Maritimes (CEM), an Average Agent in West Africa that provides loss prevention and post-damage services. As container terminals are…
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The dry bulk freight market: Just treading water?
A decade has passed since the 2008 dry bulk freight rates began a long downturn which coincided with the Financial Crisis and culminated with a historic low in January 2016. And while many are encouraged by the rebound since then, a cursory look at the Baltic Dry Bulk Index (BDI) indicates how serious the collapse was and how modest and fragile the recovery is.
Not only has the dry bulk market not returned to pre-collapse levels, it’s struggling to maintain freight rates last seen in the...
http://blogs.platts.com/2018/04/20/dry-bulk-freight-downturn/