Marsh News

Insurance broker Marsh and Lloyd's of London underwriters have expanded a marine war insurance program backed by Ukraine from grain shipments to all non-military cargo, such as iron ore and steel, Marsh said on Friday.Marsh, Lloyd's and Ukrainian state banks launched an initial program in November to cut the cost of claims for damage to ships and crew transporting grain through the Black Sea corridor, following Russia's invasion of Ukraine two years ago."Expanding insurance to cover ships carrying all non-military cargo is extremely important for Ukraine…

War underwriters have raised the premiums they charge to U.S., British and Israeli firms by as high as 50% for ships transiting the Red Sea and some providers are avoiding such business due to targeting of the vessels by Yemen's Houthis, sources said.Attacks by the Iran-aligned Houthis since November have slowed trade between Asia and Europe and alarmed major powers. The Houthis say they are acting in solidarity with Palestinians as Israel's war against Hamas militants in Gaza…

Houston based dredging and marine construction contractor Orion Group Holdings – Marine Group has become a member of trade group the Dredging Contractors of America (DCA).Orion has a near 100-year legacy and today ranks among market leaders in the provision of dredging services to keep waterways serviceable and to expand ports and other marine infrastructure throughout the United States, territories and Caribbean. The company works to create beneficial marsh habitats, dredging…

A merchant ship transporting grains was lightly damaged off the coast of Ukraine and was likely to have been hit by a floating sea mine, according to maritime specialists and a Ukrainian government source.This is the latest incident affecting commercial ships sailing in the Black Sea.War risk insurance premiums have risen to as much as 3% of the value of a vessel after a missile damaged a merchant ship in the Ukrainian port of Pivdennyi last week, industry sources said.Four maritime and trade sources said the Liberia-flagged Georgia S bulk carrier laden with a wheat cargo was sailing from Pivd

Insurance broker Marsh MMC.N, Lloyd's of London insurers and Ukrainian state banks have launched a programme to cut the cost of claims for damage to ships and crew transporting grain through the Black Sea corridor, Marsh said on Wednesday.Kyiv launched a "humanitarian corridor" in August for ships bound for Africa and Asia to circumvent a de facto blockade in the Black Sea after Russia quit a United Nations-brokered deal that had guaranteed Kyiv's seaborne exports during the war.Lloyd's of London insurers will underwrite the programme…

Gray, La.-based Danos announced it has expanded its portfolio to offer coastal restoration services to customers throughout the Gulf South. In addition to providing the materials and workforce to restore or replace barriers in marine environments, the company is producing and installing artificial reefs tailored to the local habitat. Most recently, Danos partnered with the Coastal Conservation Association to develop 128 3D-printed concrete modules installed at South Marsh Island…

Electric vehicles are crisscrossing the globe to reach their eager buyers, but the battery technology involved in the zero- emission automobiles is exposing under-prepared maritime shippers to the risk of hard-to-control fires, industry, insurance, and emergency response officials said.That risk has been put under the spotlight by the burning car carrier [Freemantle Highway] drifting off the Dutch coast. The Dutch coastguard said the fire's cause was unknown, but Dutch broadcaster…

The UK Marine Accident Investigation Branch (MAIB) has highlighted that, on average, crew have under 11 minutes to recover someone who has fallen overboard into cold water before they become unresponsive.An analysis of 20 accidents that occurred between 2017 and 2021 shows that the time decreases as the water becomes colder or the sea state rougher. In some cases, crew had just four or five minutes to coordinate a complex recovery.When examining the rate of successful recoveries…

Russia has proposed that a U.N.-backed initiative that has enabled grains to be exported from Ukraine's Black Sea ports should be renewed for just 60 days.The deal to free up grain exports from Ukraine's southern Black Sea ports, which expires later this month, has previously been renewed for 120 days and there are concerns a shorter extension could cause logistical issues.Reached in July last year, it created a protected sea transit corridor and was designed to alleviate global food shortages by allowing exports to resume from three ports in Ukraine…

Insurers are facing half a billion dollars in claims for up to 60 commercial ships still stuck in Ukraine a year after the start of the war with Russia, industry sources said.When the conflict started, more than 90 merchant ships - many with food cargoes onboard - and some 2,000 crew members were caught in Ukraine and unable to leave due to the fighting.Curtailed shipments from major grain exporter Ukraine played a role in the resulting global food crisis.According to shipping and insurance industry assessments…

A deal to free-up vital grain exports from Ukraine expires on Nov. 19, and intense negotiations over the next few days will determine whether it is extended and possibly even expanded to help ease concerns about global food security.The agreement, reached in July, created a protected sea transit corridor and was designed to alleviate global food shortages by allowing exports to resume from three ports in Ukraine, a major producer of grains and oil seeds.Here are some of the issues:WHAT HAS BEEN EXPORTED?The pact created a safe shipping channel for exports from three ports in Ukraine.So far…

Germany has ordered police to guard LNG terminals under construction and increased aerial supervision of its rail network as it prepares a law to bolster the protection of critical infrastructure, its interior minister told Reuters.Suspected sabotage on the German rail network and on the Baltic Sea gas pipelines linking Germany and Russia in recent weeks have raised concerns about the country's exposure to attacks.Minister Nancy Faeser said in an interview it was not possible to comprehensively protect all of the more than 33…

The U.S. Army Corps of Engineers (USACE), Baltimore District, and the Maryland Department of Transportation (MDOT) signed a Project Partnership Agreement (PPA) for the $4 billion Mid-Chesapeake Bay ecosystem restoration project at MDOT Headquarters, August 23, 2022.The PPA – signed by Col. Estee Pinchasin, Baltimore District commander, and MDOT Secretary James F. Ports, Jr. – outlines the roles, responsibilities, and financial obligations for both partners for the restoration of both James and Barren islands in Dorchester County…

Germany's ruling coalition is divided over whether to let China's Cosco take a stake in a Hamburg port terminal, government sources say, even as Beijing urges Berlin not to politicize the bid and the port authority warns this could hurt the economy.Shipping giant Cosco last year made a bid to take a 35% stake in one of three terminals in Germany's largest port in the northern city of Hamburg.The German government's response is being seen as a gauge of how far it is willing to toughen its stance on China…

Broker Marsh and Lloyd's of London insurer Ascot said on Tuesday they have provided coverage for a vessel carrying grain and food products from Ukraine's Black Sea ports under its new marine cargo and war insurance facility.Launched last month, it provides coverage up to $50 million for Ukrainian vital food supplies being shipped through safe corridors established by the newly signed Black Sea Treaty.The cover adds a big protection to the deal between Moscow and Kyiv at the end of July…

Hiscox is committed to a planned insurance consortium providing cover for ships travelling through a safe passage from Ukraine, its chief executive said on Wednesday, as the Lloyd's of London insurer shares plunged on a first-half loss.The first grain-carrying ship to leave Ukrainian ports in wartime, following a deal brokered by Ankara and the United Nations, safely anchored off Turkey's coast on Tuesday and is due to be inspected on Wednesday.Trade body the Lloyd's Market Association…

The first ship carrying Ukrainian grain through the Black Sea since Russia invaded Ukraine more than five months ago left Odesa on Monday under a safe passage agreement that has raised hopes hundreds of other vessels will follow.But there are many hurdles to overcome before millions of tonnes of Ukrainian grain depart from its Black Sea ports, which handle most of the corn, wheat, barley, sunflower seed and rapeseed exports of one of the world's top grain suppliers.Here are some…

Insurers will only be willing to cover ships sailing through a proposed corridor to get Ukrainian grain out if there are arrangements for international navy escorts and a clear strategy to deal with sea mines, underwriters and brokers say.Russia, Ukraine, Turkey and the United Nations are expected to sign a deal later this week aimed at resuming the shipping of grain from Ukraine across the Black Sea.Ukraine's ports have been closed since Russia's invasion in February, which Moscow calls a "special military operation"…

An ailing crewmember was medevaced from a U.K.-registered pipe laying vessel 167 miles offshore Marsh Island, La., in the U.S. Gulf of Mexico.The U.S. Coast Guard said its Sector New Orleans watchstanders received a call around 3 p.m. on Monday from the Seven Arctic of reporting a crewmember was suffering from appendicitis-like symptoms.Coast Guard District Eight watchstanders coordinated the launch of a Coast Guard Aviation Training Center HC-144 Ocean Sentry aircrew and a Coast…

Norfolk, Va. ship repair yard Colonna’s Shipyard announced a series of senior management promotions along with a revised organizational structure effective July 2022.Jordan Webb, currently Vice President, Contracts, has been promoted to Vice President of Shipyard Operations. Randall Crutchfield, currently Colonna’s Chief Experience Officer and Executive Director of Steel America and Weld America, has been named Vice President of Industrial Operations and Facilities. Chris Marsh…

Germany will show solidarity with European Union countries seeking alternatives to Russian gas and oil, for example helping eastern states without ports in the North or Baltic Seas access liquefied natural gas (LNG), Chancellor Olaf Scholz said on Thursday.Speaking after meeting with Czech Prime Minister Petr Fiala, Scholz said many countries faced an even bigger challenge than Germany in reducing reliance on Russian energy imports.Russian gas imports that arrive via pipeline account for more than 90% of gas consumption in the Czech Republic…

The newest hovercraft from Neoteric Hovercraft Inc. (Neoteric), the Hovertrek II, will be exclusively powered by Briggs & Stratton's Vanguard BIG BLOCK 40.0 Gross HP EFI - Marine engine.Designed for volunteer rescue departments and recreational hovercraft use, the two-passenger Hovertrek II includes side-by-side seating, increased thrust and low weight. The enhanced controllability, storage capacity and low weight of the two-passenger vessel make it an ideal training vehicle for…

In late 2021, Danos completed four coastal restoration projects in south Louisiana on behalf of Shell Pipeline Company. The work will provide shoreline protection through a combination of customized 3D printed modules, nicknamed “Cajun Coral,” and advanced satellite image monitoring with partner Natrx, Inc. The project designs and installation procedures were tailored to local site conditions in order to enhance biodiversity and shoreline stability.“Louisiana’s coast is vital to our industry and our environment,” said Paul Danos, CEO of Danos.