Tag: IUMI

The unprecedented COVID-19 pandemic has prevented the possibility of physical IMO meetings and delayed other meetings, thus complicating timelines related to the coming into force of amendments to various IMO Conventions, IUMI Policy Director, Hendrike Kühl, said.

During the first day of the Marine Insurance London conference, International Union of Marine Insurance (IUMI) urged that the fires onboard containerships continue to be a major issue.

The recent events within the whole world around in regards to the pandemic have seen a positive side, with the vaccine launch. Now, as the industry is focusing on how the vaccine will work and who will be in priority, IUMI launched a paper providing guidance of the risks and challenges.

International Union of Marine Insurance (IUMI) issued its 2020 analysis to provide an insight into the marine insurance market within the context of global trade and shipping.

During IUMI's annual conference, the attendees discussed big data, the use of digital technologies, and how the COVID-19 pandemic has put digitalization on the fast track.

During IUMI's annua conference, the delegates discussed the COVID-19 impact on the offshore energy sector, focusing on the reduced demand for oil.

IUMI's Rama Chandran, Chair of the IUMI Ocean Hull Committee stated that the hull market continues to suffer from the ever-ageing - and less valuable - fleet coupled with depressed newbuilding prices. 

What was on the minds of all shipowners coming into 2020 has now been clearly over shadowed by COVID-19 and its impact. However, as IUMI says, challenges remain on the full implementations of IMO’s 2020 sulphur cap.

The US is pressuring shipping companies, insurers, certifiers and flag states that register vessels, according to Washington’s special envoy on Venezuela, Elliott Abrams, in an interview with Reuters.

IUMI facilitates the dialogue and raises awareness concerning environmental, social and governance issues within the maritime industry that have direct impact on marine insurers, focusing on the new regulatory requirements related to conflict minerals.