UK War Risks Club awarded ‘Excellent’ financial rating

The United Kingdom Mutual War Risks Association (UK War Risks Club) is pleased to announce that it has been awarded an A- ‘Excellent’ financial strength rating with a ‘Stable’ outlook from AM Best, the world’s oldest and most authoritative insurance rating and information source. AM Best’s rating reflects the UK War Risks Club’s “excellent risk […]

Seacurus provides industry first with insurance cover for unpaid crew wages

Specialist marine insurance intermediary Seacurus has launched a new insurance policy to indemnify seafarers in the event of the financial default of their employers which, for the first time, offers recompense in respect of unpaid crew wages. The policy will enable all employers of seafarers to meet their regulatory obligations under the Maritime Labour Convention […]

Legislative changes in the Republic of the Marshall Islands

Two bills were recently passed by the Republic of the Marshall Islands (RMI) Nitijela in October 2012 and March 2013 respectively. These bills amend the RMI Maritime Act to include provisions for vessels under construction to be registered and mortgages recorded on such vessels (Bill No. 17) and provisions allowing for the recordation of a […]

Grup TCB will manage new Terminal at Puerto Quetzal in Guatemala

Global maritime freight management company Grup TCB, will operate the new TCQ terminal at Puerto Quetzal, located on the Pacific coast of Guatemala, for the next 25 years with an option to renew the contract. In order to improve service levels and productivity of container operations in the area, the company will invest $250 million in […]