20th February 2023

24 February 2023 will mark one year since the onset of the war in Ukraine. Over 30 organisations and companies, including IUMI, have written a joint open letter urgently calling on the UN Secretary General – His Excellency António Guterres – to prioritise the immediate release of the 331 seafarers and 62 ships that remain trapped in Ukrainian ports.

13th February 2023

With the anniversary of the Ukraine conflict approaching, more than 40 vessels are still stranded in various Ukrainian ports.

26th January 2023

The first Annual Disclosure Report for Poseidon Principles for Marine Insurance has been published today. It is a landmark step forward for transparency in the maritime and insurance sectors toward decarbonisation. The data will act as a stepping-stone for the Signatories to engage their clients in a discussion about climate change, technology, and new risks.

5th December 2022

On 3 December 2022, EU governments agreed on a US$ 60 per barrel price cap on Russian seaborne oil. The cap will be reviewed every two months, starting from mid-January, to keep it at least 5% below the market price. The price cap will prohibit G7 companies dealing with the insurance, re-insurance or financing of oil trade or to handle Russian crude oil cargoes to third countries unless the oil was sold at or below the US$ 60 per barrel price cap.

16th November 2022

With effect from 1 January 2023 Lloyd’s Salvage Arbitration Branch (LSAB) will be revising their fee charging structure. LSAB currently only charges a ‘time’ based fee (i.e. an hourly rate) for each Lloyd’s Open Form (LOF) case they manage/support.

10th November 2022

On the penultimate day of the IMO's Maritime Safety Committee, Jun Lin, Chair of IUMI's Facts & Figures Committee and Head of Portfolio and Business Development at Gard, presented the latest statistics on marine insurance premiums as well as casualty trends. While the incidents generally show a downwards development, i.e. fewer casualties, a worrying trend continues to be fires. This is particularly true for containerships.

7th November 2022

On the occasion of the IMO’s 106th session of the Maritime Safety Committee, IUMI Secretary General Lars Lange provided an update on the latest developments of the International Quality Assessment Review Body (IQARB).

27th October 2022

There are growing concerns in the tanker sector that governments in the west have not understood fully the...

11th October 2022

The shipping industry is suffering losses into the millions of dollars every year as a result of ships being filled with...

8th September 2022

Supply-chain problems are continuing globally, with more than 2% of all global shipping capacity currently doing nothing but waiting outside Germany’s ports on the North Sea. On the other side of the Atlantic, soy bean supplies have been interrupted.