Insurance

Great Barrier Reef Kept Off UNESCO 'Danger' List

  A heritage committee of the UNESCO cultural agency stopped short of placing Australia's Great Barrier Reef on an "in danger" list, but the ruling on Friday raised

Chevron Pays $5M to Family of Pennsylvania Well Fire Victim

  Chevron Corp.  has paid a reported $5 million to settle a lawsuit filed last year by the parents of a worker who was burnt to death in a gas well fire in western Pennsylvania.

Alpha No Longer Qualifies for Mine Cleanup Insurance Subsidy

Alpha Natural Resources Inc no longer qualifies for a government program that subsidizes a share of mine cleanup insurance, requiring the coal company to find another

Rosneft Repaid Two Syndicated Loans of the Former TNK- BP Group

  On May 28, Rosneft delivered a payment to the group of international banks repaying two syndicated loans which were obtained by former TNK- BP group in 2011-2012.

Norwegian Hull Club CEO Stepping Down

John Wiik to step down as CEO of Norwegian Hull Club, passing the reins to Faz Peermohamed   The Norwegian Hull Club announced that John Wiik will step down as CEO on January 1, 2016.

VIKING’s Top Safety Offerings at Nor-Shipping

Marine safety equipment leader VIKING Life-Saving Equipment will appear in force at Nor-Shipping 2015, displaying both innovative products and services that

Shell CEO Backs Fossil Fuels, Climate Change Warnings

  The world's fossil fuel reserves cannot be burned unless some way is found to capture their carbon emissions, Royal Dutch Shell Plc Chief Executive Officer Ben van Beurden said on Friday.

CMA CGM Implements War Risk Surcharge in Yemen

French container shipping company CMA CGM said it has implemented a War Risk Surcharge on all shipments to Hodeidah, Yemen.   Applicable with immediate effect,

Freeport LNG Was Not Advised Against Inviting Chinese Investors

  The head of Freeport LNG on Friday said that the U.S. Department of Energy did not advise against inviting Chinese investment in the company's Texas export plant,

Challenges Ahead for Marine Insurance

 The marine insurance sector is undergoing a rapid period of change and it is critical that insurers understand the risks the industry is facing and offer products that match these new trends,

Tanker Attacked in Gulf Collided with Iran Oil Platform in March

A Singapore-flagged oil products tanker fired at by Iranian craft on Thursday had previously collided with an Iranian oil drilling platform in March and efforts

Naval Architects Count the Cost of Ship Design Errors

International Transport Intermediaries Club (ITIC) says recent claims experience demonstrates that naval architects need to be aware of the need to protect against

Steamship Reports Strongest Results

The Steamship Mutual Underwriting Association (Bermuda)  achieved a combined ratio of 78.6% for the 2014-2015 policy year, one of the strongest results in its 100-plus years of existence.

Incident Highlights Importance of Enclosed Space Entry Drills

The London P&I Club says a recent claims incident resulting in the deaths of two crew members on board a bulk carrier loaded with coal underlines the importance

Enbridge Settles 2010 Michigan Spill for $75 mln

Enbridge Energy and its affiliated will pay $75 million to settle a 2010 oil spill into Michigan's Talmadge Creek and Kalamazoo River that dumped 800,000 gallons of oil,

Ameritex Fabric Systems Debuts "Weatherguard"

  Ameritex Fabric Systems, a member of the Taylor Made Group and the leading supplier of engineered canvas enclosures, tops and covers for OEM boatbuilders, is introducing a new,

Seminar Highlights Freight Liability in Russia

International freight insurer TT Club convened a special seminar at the recent conference on transport and logistics, Trans Russia in Moscow.  Lead by TT Club’s General Manager,

Libya Shells Turkish Cargo Ship, One Dead

Turkey says vessel was carrying plasterboard to Tobruk. Forces loyal to Libya's internationally recognised government said on Monday they shelled a Turkish ship

Rickmers: Maersk Tigris Released by Iran, Crew safe

Iran has released a Marshall-Islands flagged container ship and its crew which were seized last month in one of the world's major oil shipping lanes, the vessel's operator said on Thursday.

Syzran Refinery Upgrades totally to Euro 5 Diesel

  Syzran Refinery, a Rosneft subsidiary, has switched completely to Euro 5 diesel fuel as part of its large-scale investment program to upgrade operations. This

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