Articles from January 2009:

New two-way shipping lane in Gulf of Aden

30 January 2009

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The London-based International Maritime Employer’s Committee announced that on 1 February 2009 a two-way system will come into force in the Gulf of Aden. This will apply specifically to the “High Risk Area” security corridor. All vessels will be directed to transit the Gulf via the East and West bound lanes, in response to the [...]

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Insurance premiums expected to rise on back of piracy

29 January 2009

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There is an expectation that insurance premiums are due to rise as marine piracy continues to affect major shipping routes. Whilst the increase in naval presence has helped lower the rate of attacks, there have been a number of high profile pirate attacks on vessels transiting the Gulf of Aden which have been settled via [...]

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No time for risk taking

15 January 2009

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First published in the January / February 2009 edition of Heavy Lift Magazine The global economic gloom is casting its shadow over insurance like everything else, with sharp rises in premiums likely across the board in the near future. We asked logistics-industry insurance expert Philip Bilney* why reducing cover is not a good idea. Can [...]

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Charterers Piracy Trade Disruption Insurance

11 January 2009

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In response to the dramatic increase in piracy, Charterers’ are able to purchase insurance that covers any payments they are still liable for in the event of a vessel being captured. Minimising the Risks for Charterers Avoiding the area entirely will limit a vessel’s exposure to the risk of piracy although, as in the high [...]

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