A new initiative was rolled out and launched in September by Chubb. A new Lloyd’s of London consortium has been created (which Chubb will lead) that is designed to provide insurance coverage for risks associated with the transit and storage of lithium batteries.
The consortium was created to address a lack of capacity in the marine cargo market for providing lithium battery transit and stock insurance. It provides a one-stop solution with limits up to $50 million for risk types associated with lithium batteries including transit, stock throughput, standalone stock and warehouse legal liability, and will include excess stock and part orders. Continue reading “Chubb launches Lloyd’s consortium to address lithium battery risk”
The UK Marine Accident Investigation Branch (
Devastating consequences of rapidly spreading, and often challenging to extinguish fires involving the lithium-ion batteries particularly in electric vehicles (EV) on board ships, and other parts of the supply chain have been well-documented in recent months. There is however far less awareness of the highly toxic combustion products that are released and their respective impact to the health and wellbeing of those exposed to the gases.
National Cargo Bureau (NCB) has launched a second container inspection initiative to combat the persistent threat posed by misdeclared cargo. In a determined response to these sobering revelations and escalating concerns around ship fires, particularly those stemming from lithium-ion batteries, NCB is enhancing its inspection initiative. Several major shipping lines including Hapag Lloyd, Maersk and MSC have committed to the initiative, and container inspections have already commenced in various locations around the world. 
Using an ambitious but feasible set of actions, a new report concludes that ammonia-powered vessels will not only be commercially viable but with an aggressive path and broad use of subsidies could be possible as early as 2026. The new analysis from the Global Maritime Forum is the second phase of a project focusing on a first-of-its-kind ammonia-powered gas carrier and reiterates the research’s strong support for ammonia saying they believe the cost gap between operating ships on zero-emission ammonia and conventional fuel could be closed before 2030. 
There are growing concerns within the shipping community, including marine underwriters, about fires breaking out on car carriers and ro-ros with the assertion that many of these fires are attributable to electric vehicles. In response, the International Union of Marine Insurance (
A commercial yachting notice has been issued by the Maltese Merchant Shipping Directorate (MMSD) to remind all yacht owners about manning responsibilities.
Bananas, though said to be the world’s most transported and consumed fruit, are also among the most sensitive cargoes that can be carried on a ship according to Skuld. Before a banana ends up on the shelves it has been exposed to numerous external factors which all have a bearing on how the fruit is finally presented.