The International Union of Marine Insurance (IUMI) has published its 2021 analysis of the global marine insurance market in the IUMI Stats report. The report presents a range of statistical data to give an insight into the marine insurance market within the context of global trade and shipping.
Global premiums reported from the offshore energy sector in 2020 were USD 3.6 billion representing an 8.6% increase on 2019. Premium income mirrors the global oil price and it is thought that the bottom of the premium decrease cycle has been reached and that income is now on the rise. However, the oil price remains volatile and was impacted negatively in 2020 due to the pandemic. 2021 has seen an oil price rally but the effects of events such as Hurricane Ida are yet to be known. Continue reading “IUMI Stats Report: Small cargo losses increasing, larger losses declining”
The UK’s 
UK P&I Club has released a video describing the dangers of refrigeration machinery and other improper maintenance procedures following an enclosed space casualty. During a third-party survey, the surveyor made a request to test the emergency fire pump, which was arranged with the assistance of the chief engineer. The emergency fire pump was located in a recessed well in the steering gear compartment, approximately 3 metres deep and accessed by an inclined stairway. 
Constellation Cyber Consultancy wins at the recent Seatrade Awards Virtual, (Middle East, Indian Subcontinent & Africa), held online on Wednesday 3rd November, fifteen more outstanding winners joined maritime’s greatest roll of honour and were recognised for their outstanding achievements; unwavering resilience and inspiring dedication over the last 18 months. The Seatrade Awards, which take place in association with Lloyd’s List, was sponsored this year by ADNOC Logistics & Services, Bureau Veritas and DNV. 
Spirit Yachts, located in the UK, has launched its new Spirit 30, its most sustainable electric spirit yacht yet. This 9.15m fully electric yacht is the company’s first hull to have flax lay-up and bio-resin incorporated into its build. Responding to demand for a smaller Spirit design, the first Spirit 30 has now been handed over to its new owner in the UK. 
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For their mutual members, 
Tristar Group will host its Third Annual “Safety At Sea” conference on 8th December 2021 (1330 UAE time) at the Dubai Expo Site in the India Pavilion. This continued initiative by Tristar, supported by IIMS, Nautical Institute, and IMarEST, is to draw industry and global attention to crew mental health issues and to improve the general well–being of all seafarers.
The Boating Industry Association (