Tag: marine hull insurance

November 15, 2023

Ukraine and Britain have agreed on a special mechanism for discounts on war risk insurance on exports through the Black Sea corridor, which has helped transport almost 4 million metric tons of goods since August, Ukrainian officials said on Tuesday. […]

July 14, 2023

A top buyer of Russian oil is bracing for trading trouble as the price of Urals, the country’s main export grade, breaks through a $60-a-barrel cap set by Western nations to curb Moscow’s revenue. India and China have been the […]

March 30, 2023

Russia still relies on Western insurers to cover more than half of the tanker fleet that exports its oil, according to data compiled by Bloomberg, and the country’s energy officials are voicing concerns about the situation. The Group of Seven […]

February 24, 2023

Ukraine will offer compensation for possible damages to civilian vessels entering its ports, Deputy Prime Minister Oleksandr Kubrakov said on Friday, as Kyiv tries to boost exports that are vital for its war-hit economy. Ukraine is a major producer and […]

October 31, 2022

Ships brought grain from Ukrainian ports on Monday, suggesting Moscow had stopped short of reimposing a blockade that might have caused world hunger, despite suspending its participation in a U.N. program to safely export grain from the war zone. Air […]

October 17, 2022

Oil output at the giant Exxon-led Sakhalin-1 Russian Pacific project collapsed following the U.S. major’s refusal to accept local insurance for tankers after Western insurers pulled out due to sanctions, several industry sources told Reuters. Western insurers withdrew cover from […]

June 10, 2022

State-controlled Russian National Reinsurance Company (RNRC) is now the main reinsurer of Russian ships, including Sovcomflot’s fleet, after Western insurance firms withdrew cover for Russian shipowners, three people familiar with the matter told Reuters. Insurance is essential for maritime transport, […]

June 25, 2019

The cost of insuring Middle East oil shipments is soaring as tensions mount in a region responsible for about a third of all seaborne petroleum. So-called war risk premiums for a standard oil cargo from the Persian Gulf and the […]

June 14, 2019

Oil tanker owners are turning increasingly nervous about loading cargoes from the world’s largest export region for crude after the latest round of attacks on vessels. Both owners and the companies that charter their ships paused bookings on Thursday as […]