Sanctions and geopolitical tensions will put shipowners in tight spot, NorthStandard’s Salthouse says
NorthStandard director of external affairs believes there will be a bifurcated shipping market
Insurance
Marine cyber insurer Astaara doubles cover limit to $25m
Cover also includes losses related to cyber terrorist attacks on ports and ships
War risk underwriters start to write cheques for trapped Ukraine ships
Some shipowners could keep control of vessels after settlement, while others have been paid in full
Pen Underwriting buys London marine specialist Tay River
Deal also involves specialist war risk subsidiary Vessel Protect
Norwegian Hull Club to return $13.6m to members
Move comes after another strong underwriting year
Japan Club membership shrinks after supplementary calls
Mutual insurer’s figures show its entered fleet has been in decline since 2020
Swedish Club head Nordberg makes new hire as he continues staff reshuffle
West of England also makes key appointment
Shipowners’ Club starts to process Philippine tanker spill claims
Wreck of sunken tanker currently at a depth of 400 metres with oil onboard
Shipowners’ Club starts to process Philippines tanker spill claims
Wreck of sunken tanker lies at a depth of 400 metres with oil on board
London falling as Scandinavia and Asia grow in marine insurance
Conference hears London remains influential, even if it might no longer be the largest market for hull and machinery