Global marine premiums up by 2% but challenges remain for marine underwriting, says IUMI

Against the positive backdrop of a benign claims environment in some sectors, IUMI’s statistics show an increasing mismatch between premium income, covered risk and claims costs. On a global average basis, buffers to cover extraordinary single or accumulation losses are non-existent. Today, IUMI – the International Union of Marine Insurance …

Seafarer skills will remain an essential component in the long term future of the shipping sector

In a major piece of research, the IMarEST’s Maritime Autonomous Surface Ships Special Interest Group sought to gauge the potential impact of self-governing ships and plot out a new course for the shipping industry’s valued workforce. Autonomous technologies could create a competitive advantage for shipping companies but adoption will vary …

Sovcomflot orders next generation large-capacity tankers from Zvezda with financing from VEB

During the 4th Eastern Economic Forum (EEF), PAO Sovcomflot (SCF Group) signed a set of agreements with Rosneft, Zvezda Shipbuilding Complex and VEB Group, placing orders with Zvezda for a series of two next generation large-capacity Aframax tankers. VEB-Leasing will finance the construction of the tankers, whilst a subsequent 20-year …