Tag: Insurance

  • Nigeria targets pirates

    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

    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

    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

    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

    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

    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

    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

    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

    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

    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 […]