The close collaboration between ABS and the American P&I Club continues to deliver new loss prevention initiatives for the industry.

There has never been greater focus by sanctions authorities on the maritime sector, with increasing pressure on owners, operators and insurers to adopt ever more extensive due diligence and compliance checks in order to manage these changing and complex risks.

On 6 October Steamship Mutual Europe was delighted to welcome at their office in Limassol Mr. Vassilios Demetriades, the Shipping Deputy Minister.

Sean Dalton, Chair of IUMI’s Cargo Committee reported the majority of marine cargo markets geographically can best be described as “hard” or “improving” amid significant change.

Aiming to help entrepreneurs mitigate damage from risks that can be encountered on water, Talisman Casualty Insurance Company offers a marine program that provides comprehensive coverage for those who have assets on or in the water.

Four oil tankers have been stripped of their flags following an NBC News investigation into allegations they secretly transported Iranian oil in defiance of crippling U.S. sanctions imposed by President Donald Trump.

Insurance claims for damage to ships, goods and the port itself after a warehouse explosion last week in the port of Beirut were likely to total less than $250 million, reinsurance broker Guy Carpenter said on Monday.

Liability for damages is in focus after more than 1,000 tons of heavy oil for fuel spilled from the Japanese-owned bulk carrier Wakashio off Mauritius.

Insurers in the Middle East are expected to absorb a large part of the losses from Beirut's explosion on 4 August, with Lloyd's of London and other international players expected to be less exposed, reported Reuters quoting insurance industry sources.

Japanese shipping firm Mitsui O.S.K. Lines, Ltd. (MOL) on Friday (7 August) received the following statement from Nagashiki Shipping Co. Ltd.(Nagashiki) who are the owners and managers of bulk carrier MV Wakashio and Time Chartered to MOL.