Large shipping losses have declined by 50 per cent over the past decade, largely driven by development of a more robust safety environment by ship-owners, a report said.
Amica Mutual Insurance Co. boosted its stake in shares of Occidental Petroleum Co. (NYSE:OXY) by 121.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,350 shares of the oil and gas producer’s stock after buying an additional 58,909 shares during the period. Amica Mutual Insurance Co.’s holdings in Occidental Petroleum were worth $6,802,000 as of its most recent filing with the SEC.
Diana Shipping Inc. (NYSE:DSX) (the "Company"), a global shipping company specializing in the ownership of dry bulk vessels, today announced that, through a separate wholly-owned subsidiary, it has agreed to extend and increase the time charter rate of the present time charter contract with Rio Tinto Shipping (Asia) Pte
As the 30th ASEAN Summit in Manila, Philippines came to a close, the primary questions regarding maritime security, terrorism, human trafficking ended with consensus, with one glaring omission. The word China does appear in any of the statements by either the Chairman’s final remarks of the conference, nor any remarks by the host, Philippine President Rodrigo Rao Duterte.
Metropolitan Life Insurance Co. NY decreased its position in Natural Gas Services Group, Inc. (NYSE:NGS) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,307 shares of the oil and gas company’s stock after selling 887 shares during the period. Metropolitan Life Insurance Co. NY owned approximately 0.07% of Natural Gas Services Group worth $299,000 at the end of the most recent reporting period.
A.M. Best has revised the outlooks to stable from positive and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of The Shipowners’ Mutual Protection and Indemnity Association (Luxembourg) (the Club).
ProSight Specialty® Insurance announced today the launch of a Marine Contractors program, Longshore+ Marine Contractors, unifying all lines of insurance under a single carrier: ProSight.
Two most heavily traded Dubai stocks were Islamic insurers. Poor corporate earnings, many of them the result of Saudi Arabia's austerity policies and sluggish economic growth, weighed on the Saudi stock market in early trade on Tuesday as regional bourses were generally soft.
Shipowner Torm has inked a deal to buy four fuel efficient MR resale tankers from China’s CSSC Offshore & Marine Engineering Co (Comec), with deliveries expected in 2019.
Following our recent piece on the M/V Seccadi, a freighter registered under a flag of convenience and held by the British authorities after non-payment of crew wages and the discovery of disgusting conditions on board, comes more information regarding this and two other ships similarly flagged as Panamanian and also crewed by personnel abandoned by the vessels owners and operators. In each case the crews have been supported by the International Transport Workers' Federation (ITF) which equates the cases to a culture close to modern day slavery.
Last week, the UK's Supreme Court gave a decision by the closest of margins (3 to 2) which will have significant implications for Middle East projects where the parties have agreed a common approach to insurance.
China’s central bank will take on a bigger role in macro-prudential management and in averting systemic risk in the financial system, President Xi Jinping said at a once-in-five-years government work conference that ended.
A leader of the Singapore Shipping Association (SSA), an organisation composed of the country’s shipowners and members of allied industries, said that the group will focus its efforts on improving the field of marine insurance to better protect its members and further Singapore’s status as a global maritime hub.