Insurance

TT Club Appoints Regional Claims Director

TT Club  has appointed Justin Reynolds as Regional Claims Director, Europe, Middle East and Africa. Based in London, he will be responsible for handling member’s claims across the EMEA region.

BoE Warns Insurers of Fossil Fuel 'hit'

BoE: fossil fuel investors must assess value of reserves. Insurers may face a "huge hit" if they end up being wrongfooted by rule changes linked to climate change,

Mariners Transiting Delaware River Cautioned

  The Captain of the Port (COTP) Delaware Bay is notifying mariners that Upper Delaware River lighted buoy 33 (LLNR 3875) and Upper Delaware River lighted buoy

BW Offshore Finds 7th Petrobras Blast Victim

Norway's BW Offshore said on Thursday it had found the body of a seventh victim of a Feb. 11 blast on a production vessel it operates for Brazil's state-run oil company Petroleo Brasileiro SA.

Downgrade to Petrobras’ Credit Rating

  Petrobras has made the following clarification with regard the downgrade to Petrobras’ debt rating announced yesterday (February 24) by Moody’s. The company

Top Five Most Costly Insurance Claims

The TT Club has alerted the supply chain industry to a persistence of claims in a handful of loss types. The international transport, freight and logistics insurance

'Strong Renewal' for UK P&I Club

The UK P&I Club announced its renewal results for 2015 following the closure of the renewal season on February 20, 2015, reporting a net increase of 1.2 million

ExxonMobil 2014 Reserves Replacement Totals 104%

Exxon Mobil Corporation Reported today that it replaced 104 percent of its 2014 production by adding proved oil and gas reserves totaling 1.5 billion oil-equivalent barrels,

BWMC's Entry Into Force Imminent

Jacqueline Tan, Senior Claims Executive at the UK P&I Club, commented on the ballast water management controls coming into force:  “The coming into force of the

Bangladesh Ferry Capsizes after Collision, 33 Dead

At least 33 people died in Bangladesh on Sunday when a passenger ferry capsized after colliding with a trawler on the river Padma with more than 100 people aboard, police said.

L&L Energy Founder Sentenced for 5 yrs for fraud

  The founder of coal company L&L Energy Inc was sentenced to five years in prison Friday for lying to U.S. regulators about who was operating the company and

Russian FM terms Moody's Downgrade as biased

  Moody's downgrade of Russia's sovereign rating was based on "factors of a political character," Russia's Finance Minister Anton Siluanov said early on Saturday

Brazil Gauging Oil/Gas Market Appetite before New Auction

  Brazil is gauging market interest in exploring for oil and gas in the country before deciding whether to go ahead with a new auction of blocks in the first half of this year,

Avoiding Pitfalls on the Water

When a land-based contractor decides to work on water, risk can arise from unexpected places. It doesn’t have to be that way. In the past, companies involved in the marine industry,

Tropical Cyclone Warning for East Queensland

Severe Tropical Cyclone Marcia is predicted to intensify to a Category 4 system as it crosses the Queensland coast between Mackay and Gladstone early on Friday

CSX Train Hauling North Dakota Crude Derails

A CSX Corp train hauling North Dakota crude derailed in West Virginia on Monday, setting a number of cars ablaze, destroying a house and forcing the evacuation

DNV GL Rules for US Fishing Vessels

The fishing vessel industry fatality rate is 30 times higher than the average of all US industries. To address this, US legislation requires that all new fishing

PE to Keep Ships Afloat

 International accountancy firm Moore Stephens says the shipping sector should approach private equity (PE) providers for funding to support the ‘significant investment’

Logistics Suffer as U.S. Port Dispute Continues

Dozens of ships queuing to dock due to ports dispute; Honda slowing North American car production as parts held up. A labor dispute at ports on the U.S. West

BW Offshore Cuts Dividend

BW Offshore cut its dividend on Monday, blaming lower spending by customers due to a fall in crude prices as well as a deadly accident in Brazil last week. The company,

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