Shipping
Maritime appetite for cyber risk higher than other industries
(Posted on 20/11/24)A new report published by DNV reveals that the majority (61%) of maritime professionals believe the industry should accept increased cyber risk from digitalization if it enables innovation and new technologies. The sector’s appetite to take on emerging risks arising from digital transformation is notably higher than other...
NorthStandard adjusts for future with precautionary premiums increase
(Posted on 20/11/24)The return of higher claim volumes during 2024, increased exposure to larger claims, and continuing supply chain volatility have persuaded NorthStandard to adopt a precautionary 5% general increase in its 2025-26 premiums.The announcement comes as NorthStandard forecasts a net combined ratio in excess of 110% for the insurance year...
ClassNK ELW on improving seafarers’ living conditions for Tokei Kaiun bulker
(Posted on 12/11/24)ClassNK has granted its ‘ELW (HP)’ (Excellent Living and Working Environment (Hydroponics)) notation to ‘ROYAL LAUREL’, a bulk carrier owned by Tokei Kaiun Ltd. The vessel becomes the first in ClassNK registry to have the ‘ELW (HP)’.It is expected that efforts to improve working conditions that...
FONASBA elects new President and Board
(Posted on 12/11/24)The Federation of National Associations of Ship Brokers and Agents (FONASBA) has held its annual meeting in Athens, Greece. The meeting brings together key players from the shipping value chain in a spirit of collaboration to discuss best practice and help shape the future of the industry. This year’s event, which was hosted...
10,000 cadets benefit from Sailors’ Society virtual conferences
(Posted on 12/11/24)Record-breaking numbers of cadets and ratings from across the globe have attended the 2024 Sailors’ Society’s cadet conferences.The four virtual interactive events held for North and South East Asia, Africa, and this month for the UK and Europe, explored wellness and mental health with a focus on key and current issues...
Algoma’s stronger quarter signals promising close to the year
(Posted on 04/11/24)Algoma Central Corporation has reported its results for the three and nine months ended September 30, 2024. Algoma reported third quarter revenues of $204,644, compared to revenues of $205,888 in 2023. Net earnings for the 2024 third quarter were $39,914 compared to net earnings of $35,745 for the same period in 2023. All amounts...
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