International
Chubb Backing Trump’s $20 Billion Reinsurance Plan for Hormuz
Chubb Ltd. is partnering with the U.S. International Development Finance Corp. on a $20 billion reinsurance backstop aimed at reviving shipping in the Strait of Hormuz, a crucial oil route being ...
EU Countries Give Final Approval to 2040 Climate Target for 90% Emissions Cut
European Union countries gave the final approval on Thursday to a new climate target to slash greenhouse gas emissions 90% by 2040, pressing ahead with the bloc's ambitious climate agenda despite ...
U.S. to Reinsure Maritime Losses in Gulf Up to $20B
The U.S. will provide reinsurance for losses up to $20 billion in the Gulf region, to help provide confidence for oil and gas shippers during the war on Iran, the U.S. International Development ...
‘Black Swan’ Risks Stalk Container Carriers in Avoiding Iran War
The Iran conflict has thrust container shipping from an industry bracing for a capacity glut to another potential "black swan" supply crunch. That paradigm shift dawned on the more than 3,500 ...
War Insurance Available for Ships Crossing Hormuz, LMA Says
Insurance offers are being made for vessels seeking to transit the Strait of Hormuz, the Lloyd's Market Association said, a sign that it is safety risks and not cover that are the main impediment ...
Perishables to Plane Parts Stranded as Middle East Conflict Hits Air Cargo
Shipments ranging from fresh produce to airplane parts are in limbo as Middle East conflict squeezes cargo capacity and pushes up freight rates. The U.S. and Israeli air war against Iran has grounded ...
Trump’s Hormuz Assurances Are Only a Partial Fix, Shippers Say
President Donald Trump says the U.S. will ensure the free flow of energy through the Persian Gulf with insurance guarantees and even naval escorts. But the shipping industry sees it — at best — ...
Trump Orders Oil Tanker Insurance Support, Says Navy Could Escort Ships in Gulf
The U.S. Navy could begin escorting oil tankers through the Strait of Hormuz if necessary, President Donald Trump said on Tuesday, adding he had ordered the U.S. International Development Finance ...