Tag: Insurance

  • Nigeria targets pirates

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    By Wale Odunsi The Nigerian Navy on Tuesday deployed troops on board six warships and 60 gunboats for a special military exercise. The drill targets pirates, oil smugglers and other […]

  • Improve WAF marsec

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    Muhammad Irfan The Russian Foreign Ministry on Wednesday called on the Gulf of Guinea countries to consolidate efforts to fight piracy in the region. According to the ministry, two Russian […]

  • JWC amends GoG

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    Following an increase in kidnap for ransom attacks in the Gulf of Guinea, the Joint War Committee on Sunday 20th reportedly redrew the listed extended risk area in the Gulf […]

  • MSC, Maersk, and Hapag-Lloyd Also Implement War Risk Surcharges for Persian Gulf

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    July 04: MSC Mediterranean Shipping Company has announced it will institute a war risk surcharge for all cargoes moving to and from the Arabian Gulf. The move follows CMA CGM […]

  • CMA CGM Introduces War Risk Surcharge in Middle East

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    July 02: Due to the recent incidents in the Strait of Hormuz and amid significantly increasing insurance costs in the Middle East region, French container transportation and shipping company CMA […]

  • Persian Gulf Oil Shipments Now Cost More Than $500,000 to Insure

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    June 24: The cost of insuring Middle East oil shipments is soaring as tensions mount in a region responsible for about a third of all seaborne petroleum. So-called war risk […]

  • K&R insurance spikes

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    Ongoing attacks see increased coverage demands. Feature: Piracy spikes shipowners’ demand for kidnap and ransom insurance There is a marked increase in shipowners opting for kidnap and ransom insurance across […]

  • Indian Navy guards coast

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    Indian Navy to continue patrols. Navy continues guarding piracy-hit Western coasts It has been more than six months since international shipping regulators revised the area considered as ‘piracy high-risk’ away […]

  • Piracy watch

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    Monitoring the hot spots. Tracking Global Piracy Trends Across The Seas Piracy has existed since the conception of shipping, and pirate attacks on vessels continue to disrupt trade, raising vessel […]

  • BMP4 High Risk Area Revision

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    Dryad issues its thoughts on the revised HRA plan. BMP4 High Risk Area Revision – Pragmatic Decision or Dangerous Gamble? Today’s announcement on the geographical reduction of the BMP4 High […]

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