• Fidelis joins the Poseidon Principles for Marine...

    Launched in December 2021, the Poseidon Principles for Marine Insurance set a benchmark for what it means to be a responsible insurer in the maritime sector and provide actionable guidance on achieving this. Shipping decarbonization is a challenge that can only be achieved through cross-value chain collaboration. As part of the shipping ecosystem, marine insurers have a part to play in promoting responsible environmental stewardship.


  • Strong 2022 renewal result for Standard Club

    The Standard Club, a leading shipping protection and indemnity mutual insurer, has announced its renewal results for 2022. 98% of the existing membership has renewed and with significant organic growth from existing members, together with a number of new members joining, the club now insures 158m gross tons having grown by 11m at renewal.


  • North posts successful renewal outcome

    The P&I sector has faced a difficult period experiencing the challenges of COVID-19, record International Group pool claims, surging crew claims and higher reinsurance costs.


  • Hull Values and P&I Cover

    All shipowners make sure that hull insurance is in place to cover physical damage or loss to their ships arising out of accidents or perils of the sea.


  • Fines for excess bunker in Turkey

    The club has seen an increase in ‘excess bunker’ claims in Turkiye[1] in recent months, causing delays to the member’s ships as well as the possibility of fines and criminal proceedings.


  • The International Group joins the Top Tier...

    The International Group of P&I Clubs recently became a member of the Maritime Research Institute of the Netherlands (MARIN) Top Tier project. The project has been established to examine and assess the causes of container losses arising from at-sea incidents onboard various sizes of container ships with a particular focus on ultra large ships. The project has been approved by a cross-section of industry, academic and government interests and MARIN will produce a report of its findings including recommendations in due course. It is envisaged that the recommendations will eventually lead to operational and technical improvements that should mitigate the risk and underlying causes of container losses at sea.


  • Geofencing – targeted and timely loss prevention...

    Clubs are aware that shipowners continue to encounter cargo misdeclarations, unreliable test certificates and cargo shift, or liquefaction discovered during or at the end of a voyage. Raw mineral ores, including but not limited to nickel ore, iron ore fines and bauxite, are of particular concern because of their composition, and are often mined in remote locations lacking advanced testing and regulatory oversight. Recently, growing global demand for resources is driving development of new mining activity. In some cases, this has translated to increased commercial pressure to ship low-grade material not suitable for export, and/or shippers or regulatory authorities and local surveyors lacking knowledge of the mandatory IMSBC testing and declaration obligations. In addition, global climate change is expected to increase the risk; wet seasons which contribute to the liquefaction process have become longer in certain high-risk areas, and storms, which can cause vessel instability and facilitate cargo failure, are increasing in frequency and intensity.


  • War Risks P&I Excess cover and Bio-Chem cover...

    Although war risks are excluded from standard P&I cover (Rule 30.4.1), Assuranceforeningen Skuld (Gjensidig) (“the Association”), in conjunction with other P&I Clubs in the International Group, continues to provide War Risks P&I Excess Cover on the same basis as in the 2020/21 policy year for Members entered on a full mutual basis.



Smooth sailing on the high seas

A shipowner seeking finance in Hong Kong has a plethora of choices including debt financing from the many international banks with a shipping portfolio, leasing or, in the case of a public company, it may choose to issue shares or bonds.


Kennedys boosts Asia-Pacific expertise with Clyde & Co marine partner hire

International law firm Kennedys has boosted its international marine insurance and shipping practice, and particularly its Korean expertise, with the appointment of disputes partner Deug Rong (“DR”) Lee from Clyde & Co. DR joins Kennedys’ international marine insurance and shipping team, which came about as a result of their merger with Waltons & Morse in November last year. He will be based in the firm’s London office.

Smooth sailing on the high seas

As one of Asia’s premier financial centre, Hong Kong offers shipowners and maritime industry service providers a wide range of key financial and insurance options, facilitating the continued development of the industry


Autonomous ship regulation ‘a bigger challenge than the technology’

Likely upcoming remote-controlled vessels and Maritime Autonomous Surface Ships (MASS) will force all members of the maritime sector and maritime nations to cooperate in ensuring a regulatory regime is in place that covers unmanned ships, according to a gathering at the Insurance institute of London (IIL) covered by Insurance Marine News.


New Maritime law fails to excite re-insurance firms

Reinsurance companies say they have little to smile about in the wake of the new marine insurance law. This is because the law, contained in Section 20 of the Insurance Act that makes it mandatory for local cargo importers to insure their goods with local insurance companies, has no provision compelling firms to re-insure marine cargo with local reinsurance companies.