The Marine Committee convenes every other month, providing an opportunity for the chairs of each sub-committee to update the market on the wide range of work being undertaken. If any underwriter would like an issue raised at committee level, please get in contact with the committee secretary.
The Dali’s tragic collision with the Francis Scott Key bridge illustrates how quickly events can unfold. It is too early to determine all the reasons behind the accident itself, but it was fortunate that a warning was issued and that the impact occurred when the bridge was less busy. Insurers and brokers have worked together to respond as efficiently as possible.
The situation remains dynamic but transits are continuing, albeit at a reduced volume.
The successor to the grain corridor is operating successfully and for now, the area is relatively stable.
Revised sanctions clauses (LMA3100A and LMA3200) have been released and are available on the LWR.
There are many initiatives in play, not least the IMO’s decarbonisation targets for shipping. As part of that, one of the main priorities is to examine the characteristics of the various alternative fuels.
