Insurance

  • Vessel Security and Maritime Insurance

    By Roger L. Tomberlin

    Today, the international community fails to realize that sea piracy still has not been eliminated.  Not only has piracy never been eradicated, but the number of pirate and terrorist attacks on ships has tripled in the past decade alone elevating piracy to its highest level in history.

  • India Grants Extension to Iranian Ship Insurers

    India has extended approval to two Iranian insurers to cover container and tanker vessels calling at Indian ports by a year to June 25, a government notification said, in a move that will aid oil imports from Tehran.

  • Analysts expect Buhari to retain N1.5trn lost...

    Worried by the continuous domination of the Nigerian generated seaborne trade by foreign vessel owners, which results to huge capital flight estimated at N1.5 trillion annually, maritime industry analysts are pushing for favourable policy direction from the Muhammadu Buhari-led administration that would help in growing local participation in the nation’s shipping business.

     

  • TT Club Calls for ‘Utmost Good Faith’ in the...

    As a leading provider of liability, property and cargo insurance to the global freight industry, TT Club has long championed a variety of measures designed to increase safety throughout the container supply chain. In Rotterdam last week, Kevin King, the Club’s Regional Director EMEA took the opportunity to address an audience of container operators, port and terminal executives and logistics professionals to highlight the crucial importance of an under lying principle of best practice, which would improve the industry’s safety record.

Pages

Chinese capital eyes global maritime hub

A large-sized state-run company from China has joined the contest to acquire the Baltic Exchange, the international hub of cargo shipping and trade of merchant vessels. Based in the U.K., the 272-year-old venue for futures exchange announces the Baltic Dry Index (BDI), the benchmark of trading of maritime markets. Analysts say that China, which is militarily pursuing to be a maritime powerhouse, is seeking to occupy the center of operation of the world’s merchant vessels.

English

Hong Kong's Maritime Industry in Cross Road

The total port cargo throughput of Hong Kong has seen a sharp decrease of 13.8% in 2015, amounting to 256.6 million tonnes, according to the Hong Kong Census and Statistics Department. It is the biggest year-on-year drop in the past 10 years.

English

Marine insurance: recovering from insured after frustration of subrogation right

The principle of subrogation – now a universally recognised component in almost every insurance contract – is where an insurer, having indemnified an insured, acquires all the rights and remedies of the insured with respect to the subject matter of the damage. In Nigeria, it has gained statutory recognition under the Marine Insurance Act(1) and other laws.

English

NITC: Shipping Insurance Hurdles “Almost Resolved”

Iran is still facing hurdles to provide maritime insurance for its tanker fleet, but the difficulties are “almost settled” on the back of months-long efforts of National Iranian Tanker Company and the Foreign Ministry, NITC executive director said.

English

Pages

Top