News
Lloyd’s books first-half underwriting gain, despite Ukraine-related losses
Lloyd’s late last week reported an improved H1 underwriting result, notwithstanding the impact of the invasion of Ukraine, natural catastrophes and inflation, However, IFRS-revaluations of unrealized investment losses meant that the market fell to an overall loss after investment revaluations.…
Ukraine fallout set to hit marine insurance markets
Fears of massive total loss claims in the Black Sea averted but more general losses in the insurance sector will have an impact. The United Nations World Food Programme has opened the door for dozens of ships trapped at Black…
Fires and fuels top the agenda in insurers’ efforts to cut claims
Insurance union is pushing for regulatory changes to tackle persistent safety problems. The International Union of Marine Insurance (IUMI) policy forum has been facing a growing list of safety concerns, partly driven by the technological challenges of the shift to…
Ukraine says Russia has no grounds to review Black Sea grain deal
A Ukrainian presidential adviser said on Wednesday that Russia had no grounds to review the landmark deal allowing Ukraine to export grain from ports in the Black Sea and that the terms of the wartime agreement were being strictly observed.…
Putin casts doubt over the longevity of the Black Sea Grain Initiative
The future for Ukraine grain shipments out of the Black Sea has been cast into doubt with Russian president Vladimir Putin yesterday questioning the terms of the shipping deal his country struck with its foe in July. Signed in Istanbul…
Change in Ukraine’s domestic seafarer rules will help global shipping
The decision by Ukraine late in August to exempt its seafarers from mandatory service in the armed forces, and to be allowed to leave the country to work on ships internationally, would free up manpower for both Ukrainian grain exports…
China foreign ministry urges dialogue - not price cap - on Russian oil
China voiced its opposition to a price cap on Russian oil on Monday, after the Group of Seven finance ministers agreed last week to impose such a cap to slash revenues for Moscow's war in Ukraine. China has refused to…
A cap on Russian oil prices? G7 eyes untried, risky plan
Capping the price of Russian oil, an approach G7 members said Friday they want to pursue “urgently,” would be an unprecedented move and one which some analysts say could backfire. Russian oil would be purchased at a discount from prevailing…