A new report from Lloyd’s Register and marine consultancy Thetius estimated that in excess of 1m tonnes of off-specification or non-compliant fuels were detected in vessels each year, costing ship operators between $27,000 and $50,000 per incident. The report into the market, technology, and...
Genting Hong Kong, the operator of Dream Cruises and Cruise to Nowhere, will be liquidated, a Bermuda Court has ruled. In January this year the company filed a winding-up petition in Bermuda after the failure of attempts by its shipyard in Germany to obtain further cash loans from regional and...
https://insurancemarinenews.com/insurance-marine-news/genting-hong-kong-will-be-liquidated/
Mark Dunbar, Surveys Manager at West Of England Club, has noted that, due to the Covid-19 pandemic, the normal SOLAS (Safety Of Life At Sea) two-year revision cycle has been interrupted. Contracting governments to the SOLAS Convention may apply the latest amendments in whole or in part on a...
https://insurancemarinenews.com/insurance-marine-news/solas-amendments-to-the-imsbc-code/
Tysers said that for Steamship Mutual 2021 was “a year of contrasts” Gross premium rose by $23m to $308m and net claims were down $7m at $245m. As a result the combined ratio improved from 125% in 2020-21 to 113% in 2021-22. However, for the first time since 2016, the Club suffered an investment...
Water levels on the Mississippi River have continued to fall, with depths approaching a historic low last seen in 1988. Barge traffic has been slowed significantly. More than half of the US’s agri-exports head south down the Mississippi to vessels on the Gulf of Mexico. The river gauge at Memphis...
https://insurancemarinenews.com/insurance-marine-news/mississippi-water-levels-continue-to-fall/
The operators of cruise ship Ruby Princess (IMO 9378462) have rejected allegations in court that a man at the centre of a Covid-19 class action in Australia was infected on the ship. Trent March, representing Princess Cruises, told the Federal Court in Australia on October 12th that it believed...
The union representing Port of Liverpool dockworkers has said that it was planning two more weeks of strikes. The announcement came after employer Peel Ports said that there would be a number of redundancies among the workforce.. Almost 600 dockers will down tools between October 24th and November...
After a quiet period for container ships, following a spate of serious accidents a couple of years ago, three incidents have occurred in the past two weeks to remind the sector that dangers to the industry have not gone away. On October 14th container ship MSC Atlantic (IMO 8913447) was reported as...
https://insurancemarinenews.com/insurance-marine-news/container-ship-woes-re-emerge/
Russia appears to be exporting as much dry bulk and oil as ever since March this year, when extensive sanctions were imposed by western Europe – just to different places. Banchero Costa said that Russia was now exporting crude oil at pre-covid levels, in second place in the world oil rankings,...
Russia has submitted concerns to the UN about the agreement between Russia, Ukraine, the UN and Turkey about the Black Sea grain corridor, agreed in July to facilitate exports of grain from three Ukrainian ports on the Black Sea. Russia is reportedly prepared to reject the renewal of the deal next...