The Philippines is seeking loans from Beijing for infrastructure projects and Marcos has called China the country’s strongest partner in pandemic recovery.
At least 12 of the 13 Protection and Indemnity (P&I) clubs — which cover 90% of the world’s ocean-going ships, including those from the U.K. and the U.S. — said they would no longer be able to provide coverage.
If the big reinsurers do ultimately stop covering Russia and Ukraine marine business, shipowners might turn to insurance from Chinese or Turkish firms.
The ship’s arrival during northwest Europe’s first major cold snap this winter highlights the need for new gas supplies after Russia slashed deliveries in retaliation for the continent’s support for Ukraine.
The latest news, analysis, services and systems regarding ocean transportation and its impact on global supply chains. Today’s companies are transporting and delivering container shipments in a more efficient manner than ever before using new services and technologies that provide information en route - allowing them to stay ahead of the competition in their industries. As ocean cargo services continue to evolve, businesses are discovering new ways to increase efficiency and cut costs. Learn how companies are using ocean shipping solutions to power their supply chains.
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