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Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

Insurance Journal

Marine insurance markets face significant risk from the growth of a shadow fleet of ships hauling oil from sanctioned producers like Russian and Iran, an industry group said. The opaque nature of the ownership of those vessels makes it hard …

Risk 258
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Dark Fleet Caper Exposes Growing Risks in Crowded Malacca Strait

Insurance Journal

A collision that set two vessels ablaze off Singapore has underlined the growing risks in the crowded Straits of Malacca, as the dark fleet expands and lackluster Chinese demand leaves dozens of the tankers idling. The Ceres I, a 23-year-old …

Risk 249
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Stricken Oil Tankers Show Risks of Russia’s Aging ‘Shadow Fleet’

Insurance Journal

Russian authorities sought to limit the damage on Monday from oil spilled into the Kerch Strait by two aging tankers that were damaged during a heavy weekend storm, highlighting the environmental and insurance risks of Russia’s “shadow fleet.” ” One crew …

Risk 245
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Oil Tanker Insurance Payouts at Risk After UK’s Russia Sanctions

Insurance Journal

Transfers of oil at sea that involve a recently sanctioned Russian insurer may prevent western firms from paying claims if something goes wrong, a key provider of cover said. Moscow-based Ingosstrakh PJSC has emerged of a major insurer to Russian …

Risk 263
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Scrap metal fires – is the IMSBC code adequately addressing the risks?

Insurance Marine News

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Risk 95
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South Africa passes marine pollution law

Insurance Marine News

Join Us The post South Africa passes marine pollution law appeared first on Insurance Marine News. You need to be logged in to view this content. Please Log In. Not a Member?

Marine 76
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Marine War Risks market remains “turbulent”, says broker Gallagher

Insurance Marine News

Join Us The post Marine War Risks market remains turbulent, says broker Gallagher appeared first on Insurance Marine News. You need to be logged in to view this content. Please Log In. Not a Member?

Broker 52