Channel 16

Asia war risk premium seen mostly firm on Persian Gulf concerns

Maritime war risk premiums for commercial shipping are expected to remain firm over the next several months, if not years, due to prevailing geopolitical risks and even the country of ownership and flag are factors in their calculations, several insurance providers and classification societies said.

Countries call on flag states to crack down on dark STS oil transfers

Australia, Canada and the US have made a joint submission to the International Maritime Organisation (IMO) to debate ways to end the use of ship-to-ship (STS) transfers of Russian crude oil.

Shipping industry call for help to evacuate 300+ seafarers trapped in Ukraine ports

As we approach one year since the start of the war in Ukraine, the co-signatories of this letter write to you to highlight the 331 seafarers still trapped on vessels in the Black Sea and Sea of Azov.

China: Sea ports renege quarantine, promote marine trade

Chinese sea ports removed nucleic acid tests or centralized quarantines for incoming crew members who change shifts, starting on Sunday, as part of the latest moves to optimize COVID-19 response.

Vessel Vulnerabilities: Why Attackers Increasingly Target Maritime

Maritime is at the center of global trade and many sectors rely upon the industry for safe transportation of critical goods. For instance food imports and building supplies. Despite this criticality,..

Product Tankers: Middle East and US to the EU Will be a Dominant Trade Route Moving Forward

The product tanker market is expected to benefit significantly from the sanctions imposed on Russian crude and products, like diesel and gasoline.

BIMCO to revise War Risk Clauses

Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risks Clause for Voyage Chartering 2013 (VOYWAR 2013)..

Shippers unlikely to see lower insurance premiums despite lesser Indian Ocean piracy risk

Shipowners and charterers carrying commodities in the Indian Ocean are unlikely to see lower insurance premiums in the near term despite industry bodies’ decision to remove the region’s High Risk..

Nigeria & shipping industry launch strategy to eliminate piracy in GoG

The Government of Nigeria and a coalition of global shipping stakeholders have launched a new strategy to end piracy, armed robbery, and kidnapping in the Gulf of Guinea (GoG).

Shipping’s Russian Nightmare is Becoming a Reality

The shipping industry is faced with a logistical and legal nightmare, in the aftermath of the events in Ukraine.

Hellenic Shipping News