Safety & Regulation

Trade war between the US and China

Vessels may be unable to access ports while seafarers may also be barred from operating in certain nations in the event of a full-blown trade war.

Containerised cargo being loaded on to a vessel

Underwriters will challenge the tide of cases involving inaccurate or incomplete cargo labelling, IUMI committee chief warned.

Marsh & McLennan will be the world's biggest marine broker.

The deal was announced this morning in London and as news spread to marine insurers in Cape Town, there was a concern over where it will leave the market.

Map of Africa

IUMI targets membership increase in Africa.

Maersk Honam fire

A leading salvor said the introduction of more fire breaks would be a significant first step to prevent a fire from spreading across large numbers of containers.

ICS secretary general Guy Platten

For the vast majority of vessels, complying with the 2020 sulphur cap will mean using fuel oils with a sulphur content of 0.5%, the ICS said.

A damaged shipping container

Astrid Seltmann said there are worrying sides for cargo insurers following significant losses last year that gave rise to the most expensive North Atlantic hurricane season in history.

A Maersk container ship

The new BAF, comprising a trade factor and fuel cost, will replace the existing Standard Bunker Factor and enable customers to simulate and calculate the BAF tariff at any fuel price for a given trade route.

Dave Matcham.

The project manager of the International Union of Marine Insurance’s (IUMI) large loss database has told Fairplay the project has the potential to create a new dawn for underwriters.

Outgoing IUMI president Dieter Berg

The marine insurance industry is vulnerable to a triad of key threats and the market must consider the risks facing the world today, said Dieter Berg.