Insurance

  • Singapore Shipping Association to increase focus...

    A leader of the Singapore Shipping Association (SSA), an organisation composed of the country’s shipowners and members of allied industries, said that the group will focus its efforts on improving the field of marine insurance to better protect its members and further Singapore’s status as a global maritime hub.

  • Shipping losses continue to decline

    Large shipping losses have declined by 50 per cent over the past decade, largely driven by development of a more robust safety environment by ship-owners, a report said.

  • Amica Mutual Insurance Co. Raises Position in...

    Amica Mutual Insurance Co. boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 121.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,350 shares of the oil and gas producer’s stock after buying an additional 58,909 shares during the period. Amica Mutual Insurance Co.’s holdings in Occidental Petroleum were worth $6,802,000 as of its most recent filing with the SEC.

  • Diana Shipping Inc. Announces an Addendum to the...

    Diana Shipping Inc. (NYSE:DSX) (the "Company"), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend and increase the time charter rate of the present time charter contract with Rio Tinto Shipping (Asia) Pte

  • The duty of procuring a superyacht's...

    A recent case in the US courts looked at whether a marine insurance broker owed a heightened duty to its client in procuring the superyacht's insurance policy. Jason P. Minkin and Jonathan A. Cipriani of BatesCarey LLP, Chicago, explain.

  • Marine insurers brace for new sulfur emission...

    Shipping companies will have to upgrade their vessels well in time to adhere to the upcoming global sulfur emission norms to avoid losing their classification and insurance cover, underwriters and insurers said recently.

  • ASEAN Fails To Address China, But Moves Closer To...

    As the 30th ASEAN Summit in Manila, Philippines came to a close, the primary questions regarding maritime security, terrorism, human trafficking ended with consensus, with one glaring omission. The word China does appear in any of the statements by either the Chairman’s final remarks of the conference, nor any remarks by the host, Philippine President Rodrigo Rao Duterte.

  • Metropolitan Life Insurance Co. NY Sells 887...

    Metropolitan Life Insurance Co. NY decreased its position in Natural Gas Services Group, Inc. (NYSE:NGS) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,307 shares of the oil and gas company’s stock after selling 887 shares during the period. Metropolitan Life Insurance Co. NY owned approximately 0.07% of Natural Gas Services Group worth $299,000 at the end of the most recent reporting period.

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North Korea Sanctions Hit Global Cargo Shipping

Global shipping services providers and ports in the US, Russia, Iran, Syria, and China, for example Dandong and Dalian, have been caught up in the US’s latest offensive on North Korean trade, analysis has found.

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Mixed earning weigh on Saudi stocks with regional markets soft

Two most heavily traded Dubai stocks were Islamic insurers. Poor corporate earnings, many of them the result of Saudi Arabia's austerity policies and sluggish economic growth, weighed on the Saudi stock market in early trade on Tuesday as regional bourses were generally soft.

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Horrors of Crewing a Flag of Convenience Merchant Vessel Revealed in UK Port Seizures

Following our recent piece on the M/V Seccadi, a freighter registered under a flag of convenience and held by the British authorities after non-payment of crew wages and the discovery of disgusting conditions on board, comes more information regarding this and two other ships similarly flagged as Panamanian and also crewed by personnel abandoned by the vessels owners and operators. In each case the crews have been supported by the International Transport Workers' Federation (ITF) which equates the cases to a culture close to modern day slavery.

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