Supply chains remain fragile, with Suez Canal blockage exacerbating issues

Global misallocations of containers, slower ship processing times because of Covid-19 restrictions, increased demands for imports of consumer goods from Asia to Western Europe and the US, and a six-day blockage of the Suez Canal, have all been factors in ongoing disruptions to global trade. Reiner...

https://insurancemarinenews.com/insurance-marine-news/supply-chains-remain-fragile-with-suez-canal-blockage-exacerbating-issues/

Bulk carrier rescues refugees, who then refuse to disembark in nearest port

Bulk carrier Bulk Freedom, which on April 4th rescued 14 Cubans from a small boat some 50nm off Grand Cayman, has now found that the rescued refugees/migrants do not want to disembark in Grand Cayman, because that was where they had started from. The 52,454 dwt Bulk Freedom, registered in Panama,...

https://insurancemarinenews.com/insurance-marine-news/bulk-carrier-rescues-refugees-who-then-refuse-to-disembark-in-nearest-port/

Iran frees Hankuk Chemi after South Korea promises to help with frozen funds

Iran has released South Korea-flagged chemical tanker Hankuk Chemi (IMO 9232369) and its captain, three months after the vessel was detained because of alleged pollution violations (IMN January 6th). South Korea said that the vessel was released after the country promised to try to secure the...

https://insurancemarinenews.com/insurance-marine-news/iran-frees-hankuk-chemi-after-south-korea-promises-to-help-with-frozen-funds/

NTSB reports complacency and, lack of procedural compliance as causes of accidents

The US National Transportation Safety Board (NTSB) has said that a lack of procedural compliance and complacency had been key factors in several marine accidents where the investigations have concluded this year. The agency said that the probable cause of the flooding of the towing vessel Alton St...

https://insurancemarinenews.com/insurance-marine-news/ntsb-reports-complacency-and-lack-of-procedural-compliance-as-causes-of-accidents/

Bouchard Transportation pays $375,000 in restitution to whistleblower

Bouchard Transportation Co Inc. and three former and current management officials have paid $375,000 in restitution to a seaman whose brother was one of two seamen killed in the October 20th 2017 Buster Bouchard/B No 255 explosion off Port Aransas, Texas, reports The US Department of Labour The...

https://insurancemarinenews.com/insurance-marine-news/bouchard-transportation-pays-375000-in-restitution-to-whistleblower/

Reinsurers will pay for most of Suez Canal blockage bill; industry sources

Reinsurers are likely to be on the hook for most of the insured losses accumulated as a result of the grounding of the Ever Given in the Suez Canal on March 23rd, which led to the channel being closed for six days. More than 400 vessels were affected by the canal’s temporary closure, with some…

The...

https://insurancemarinenews.com/insurance-marine-news/reinsurers-will-pay-for-most-of-suez-canal-blockage-bill-industry-sources/

SCA hopes talks with Ever Given owners will conclude without legal action

The Suez Canal Authority has said that it and Egypt were negotiating with Shoei Kisen, the owners of ULCV Ever Given (IMO 9811000), and hoped that a financial settlement with the company could be reached without the need for legal action.  “We are discussing with them a peaceful resolution to the...

https://insurancemarinenews.com/insurance-marine-news/sca-hopes-talks-with-ever-given-owners-will-conclude-without-legal-action/

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