• Avoid machinery failures in Shanghai waters

    An enhanced focus on machinery failure incident investigations in Shanghai waters, combined with China’s strict COVID-19 quarantine requirements for shore personnel attending onboard ships, could lead to time-consuming and expensive class surveys and audits, warns major classification society.


  • Skuld celebrates 125 years of world-leading...

    Skuld is celebrating its 125th anniversary with a new visual identity. Established in 1897, Skuld has grown and developed over the past 125 years from a P&I Club for Scandinavian shipowners into the highly regarded and global marine insurer that it is today.


  • BIMCO launches new SEV-GUARDCON contract

    The BIMCO subcommittee which drafted the new contract was made up of representatives from shipowners and operators, private maritime security companies (PMSC), maritime risk consultants, P&I Clubs (including the Standard Club) and law firms.


  • Focus on Turkiye: Marine pollution fines as of 1...

    Article 20 of the Turkish Environmental Code 1983, law no.2871, provides that fines may be imposed by the relevant authorities on vessels causing pollution in Turkish waters, through the discharge of petroleum products, dirty…


  • Skuld enhances drive for zero carbon shipping

    Skuld today announces its participation as mission partner in a global initiative to decarbonize the maritime industry. Skuld has joined the Maersk Mc-Kinney Moller Center (MMMC) for Zero Carbon Shipping as part of the insurer’s stated intention to protect ocean industries.


  • Accrue benefits of simulator training

    The ongoing pandemic backdrop, where social distancing and remote working practices remain, has spurred the use of simulators for training operators of cargo handling equipment as an essential tool in the container terminal training armoury.


  • Implementation of reinforced standards at South...

    Further to club’s previous news item, members are reminded that from 1 January 2022 it will be mandatory to use fuel with maximum 0.1% sulphur content while navigating within South Korean SOx Emission Control Area (SECA).


  • The International Group Reinsurance Programme

    The arrangements for the renewal of the International Group reinsurance programme for the year commencing 20 February 2022, including Hydra premium, the Collective Overspill Cover, TRIA allocation War cover and Laid Up rates, has now been finalised.



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.