A fourth missing victim was recovered on April 14th, close to the collapsed Key Bridge in Baltimore, the Unified Command has reported. The body was found in a construction vehicle by UC salvage teams. Two bodies remained missing. Colonel Roland L Butler Jr, Superintendent of the Maryland Department...
The International Transport Intermediaries Club (ITIC) has highlighted the importance of robust vessel design reviews and related insurance coverage throughout the construction process following a recent dispute between a naval architect, a shipowner and a shipyard regarding a vessel’s operational performance post-delivery. The vessel, a 24-metre catamaran servicing the offshore oil and gas industry, faced…
The post ITIC Highlights importance of vessel design reviews following claim for $5m...
Ukraine and Russia negotiated for two months on a deal to ensure the safety of merchant shipping in the Black Sea, and in March had actually reached agreement on a text, but the Ukrainian side pulled out of the talks “at the last minute”, according to a Reuters report, citing several unnamed...
The Panama Canal Authority (ACP) plans to increase throughput and reduce draft restrictions gradually over the next two months, bringing the capacity of the locks bac to, if not “normality”, at least very much closer to it than was the case six months ago. However, there will be a week in May when...
https://insurancemarinenews.com/insurance-marine-news/pressure-eases-on-panama-canal-capacity/
UK-based insurance intermediary Howden has launched a cargo war risk facility to protect vessels from drone and missile strikes by Yemeni-based militia groups in the Red Sea. The cargo war facility offers up to $50m of coverage per insured vessel, although it noted that the largest limit quoted so...
The EU Atalanta naval force, currently defending against piracy in the Indian Ocean as part of EUNAVFOR, has warned that the decision of a Bangladeshi company to pay a ransom to free the hijacked Abdullah (IMO 9745598) and its 23 crew could lead to further attacks on merchant shipping. Atalanta has...
The Lloyd’s syndicates have now published their results for 2023 and, in some cases, added detail and an outlook for 2024. Some have stuck to the bare bones. As in the previous few years, IMN is summarizing the results from all syndicates that have a notable marine interest, if they have provided...
https://insurancemarinenews.com/insurance-marine-news/syndicate-results-2023-11-talbot-1183/
Germany-based NGO Animal Welfare Foundation and French environmental organization Robin des Bois have questioned the safety of livestock carriers in a just-published report on the safety risks associated with livestock carriers trading from the European Union. This organizations produced a similar snapshot three years ago. The average EU-approved livestock carrier is now older (43 years…
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Ship recycling has dropped over the past two years to the lowest level in 20 years, according to independent shipowners’ association BIMCO, caused by a series of demand shocks. “A combination of strong demand following a series of market shocks and low orderbooks have kept older ships operating for...
A large section of the main span of the Francis Scott Key Bridge has been lifted away from the main navigation channel by the Chesapeake 1000, the largest available barge crane on the east coast of the USA. The US Army Corps of Engineers (USACE), part of the Unified Command, said that removing the...