Compliance / Regulatory Update on Per-Voyage Attestation Requirement - Applicable From 19 February 2024 The G7 price cap coalition has published an update on the application of the price cap rules. The rules have taken effect on 19 February 2024 (UK and US) and for cargoes loaded on
Nordic Marine Ltd (Nordic) - Joint venture agreement with SiriusPoint New partnership ! The Nordic team is very pleased to announce that Nordic and SiriusPoint have concluded a partnership according to which SiriusPoint, through their Stockholm office as SiriusPoint International’s MGA Centre of Excellence, will provide additional insurance capacity to Nordic on
Loss of Earnings with 7 days deductible is back! 14/90/90 at 2.00% or 7/97/97 at 2.40% ... Should that be a question? Let me expand on the background that has led to the somewhat provocative question I am asking. For the last 25-30 years, ship owners have been buying conventional LoH
Nordic Marine 2022 : Ten years of stretching boundaries Dear Colleagues, Clients, Broker friends and other Business Associates, As we look back on the past 12 months and prepare for the coming year, we can only have a feeling of pride and humility, as 2022 marked Nordic Marine’s 10th Anniversary… and
Accidental (minor?) grounding… A New York-listed MR tanker owner posted a sizeable loss in the first quarter of 2022, mainly because of the accidental grounding of one of their tankers and the consequent loss of her earnings for more than 40 days. combined with higher operational costs, lower average rates
War, civil war… act of piracy… kidnap and ransom… abduction of persons on board… An offshore support vessel was boarded by armed pirates in the Gulf of Mexico and crew and staff took shelter to avoid kidnapping. The pirates, frustrated, looted the ship and took many autonomous breath devices, communications’ equipment
Collision, Grounding, stranding, contact with any fixed or floating object… During a mooring manoeuvre, a water tanker struck a berthed general cargo ship. Although the tanker sustained little or no damages following the contact, the other ship sustained hull breaches in fuel tank area, and an oil leak was reported.
“Tit for tat” (suite) … still not funny Following Iran’s confiscation of two Greek owned tankers as retaliation to seizure by Greek authorities of a Russia-flagged Suezmax tanker in Greek waters, Greece’s shipping ministry has advised the country’s ships to avoid Iranian territorial waters when crossing the Persian Gulf, Strait of
“Tit for tat” ... but not funny (first) In retaliation to the confiscation of an Iran flagged tanker by US and Greek authorities, Iran boarded and seized two Greek crude oil tankers in the Persian Gulf, for alleged violation of maritime regulations. No specific details were mentioned in the various media.
Collision with another ship… or alliding with any fixed or floating object other than another ship… A 59-meter luxury yacht collided with a bridge in the Pisa Canal, Italy. The yacht had been ongoing a refit and was seriously damaged by the collision. According to available sources, the yacht tried
