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Times are changing for marine insurance, says IUMI President Frédéric Denèfle

Opening this week’s International Union of Marine Insurance (IUMI) annual conference in Berlin (Germany), President Frédéric Denèfle focused on how change was likely to...

Positive development across all lines of marine insurance business continued in 2023, reports IUMI

The International Union of Marine Insurance (IUMI) presented its analysis of the latest marine insurance market trends at its 150th annual conference in Berlin, Germany. The...

London P&I Club reports strong financial results for the 2023/24 financial year

The London P&I Club announced its financial results for 2023/24, reporting an operating surplus of US$36.3m, strengthening its free reserves to US$149.8m. Gross Earned...

The London P&I Club announces CEO transition

The London P&I Club announced that Ian Gooch will be stepping down during the year from the role of Chief Executive Officer after 15...

Ship insurer Britannia is helping in Baltimore bridge probe

Britannia, the insurer of container ship the Dali, is working with the vessel’s owner and U.S. authorities on the investigation into the collapse of...

Insurers could face losses of up to $4 billion after Baltimore bridge tragedy, analyst says

Baltimore’s Francis Scott Key Bridge collapse could cost insurers billions of dollars in claims, analysts say, with one putting it at as much as...

Red Sea Insurance Soars After US Airstrike

The cost of war-risk insurance for vessels sailing through the Red Sea is spiraling, adding a further potential impediment to trade passing through a...

Maersk Introduces Surcharge on Israel Shipments to Cover Insurance

Shipping group A.P. Moller-Maersk said on Thursday it will introduce a risk surcharge next year on container shipments to Israel to cover rising insurance...

Evergreen declares force majeure on Israel shipment

Taiwanese container shipping line Evergreen has declared force majeure on a shipment to the Israeli port of Ashdod, with its Ever Cozy vessel diverted...

ZIM issues customer advisory regarding war situation in Israel

ZIM continues to operate and accept bookings to and from Israel; implementing new war risk premium charge, at cost, on relevant cargo. A company announcement...

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Ardmore Shipping announces financial results for the three and twelve months ended December 31

Ardmore Shipping Corporation announced results for the three and twelve months ended December 31, 2024. Highlights and Recent Activity Reported Adjusted earnings of $10.3 million for...

Navios Partners posts $1.33 billion revenues in 2024

Navios Maritime Partners L.P, an international owner and operator of dry cargo and tanker vessels, reported its financial results for the fourth quarter and...

Scorpio Tankers announces financial results for the fourth quarter of 2024 and the declaration of a dividend

Scorpio Tankers Inc. (NYSE: STNG) ("Scorpio Tankers" or the "Company") today reported its results for the three months and year ended December 31, 2024....

Wallenius Wilhelmsen closes record-year with another solid quarter

The financial result for the full year of 2024 is another record-breaking result for Wallenius Wilhelmsen as it exceeds the 2023 results. Adjusted EBITDA for...

HMM sees 2024 earnings & profits rise

HMM reported revenue of KRW 11,700 billion (US$8 billion), operating profit of KRW 3,513 billion (US$2.42 billion), and net profit of KRW 3,781 billion...

Seafarer salaries have risen but so have retention rates, Danica survey reveals

Retaining seafarers has improved slightly over the past year, thanks in part to salary...

Shipping: Environmental fees skyrocket in the EU

The environmental fees paid by commercial ships calling at European ports have increased by...

Panama vessel registry says it is ‘not a haven for sanctions evasion’

Panama has made progress stripping vessels from its registry that do not meet its...

Baltic index snaps 3-day losing streak as supramax rates climb

The Baltic Exchange’s dry bulk sea freight index, which measures shipping rates for vessels...

Baltic index declines for third day as capesize plunges to 2-year lowBaltic

The Baltic Exchange’s dry bulk sea freight index, which measures shipping rates for vessels...

Western Australia’s Ports Reopen After Tropical Cyclone Zelia

Western Australia’s ports of Dampier and Varanus Island reopened, the ports’ operator said, after Tropical Cyclone Zelia hit the state’s Pilbara iron ore region...

Thessaloniki Port targets immediate launch of 6th pier project

The procedures for implementing the investment in the 6th pier of the port of Thessaloniki will begin immediately, according to the administration of the...

Port of Long Beach sees a strong start for 2025

The Port of Long Beach started the new year with its strongest January on record and its second-busiest month ever, largely driven by retailers...

An increasing number of cruise lines choose Piraeus as their homeport

More and more cruise lines are choosing the port of Piraeus as their starting point and homeporting point for their voyages. The benefits of homeporting...

Zululand Energy Terminal signs agreement to operate South Africa’s first LNG Terminal

Zululand Energy Terminal, a joint venture between Vopak Terminal Durban and Transnet Pipelines (TPL), has officially signed the Terminal Operator Agreement (TOA) with Transnet...