Despite salvors having offloading all the fire damaged containers from the containership Yantian Express vessel remains in Freeport, Bahamas, as some shippers have not posted General Average and Salvage security for undamaged containers.

As the UK’s Brexit process plunges into deep uncertainty P&I insurers are choosing different methods to ensure smooth trading in the event of the country leaving the EU.

The first few months of 2019 has already seen three major container ship fires. The most recent fire, on board the Grande America, has resulted in the sinking of the roll-on/roll-off containership in the Bay of Biscay off the coast of France, the loss of her cargo and oil pollution from the 2,200 metric tonnes of fuel on board.

Britannia P&I Club has been granted an underwriting license for its Singapore branch.

Insurer QBE has announced the transition of QBE International Markets (QIMS) to QBE Singapore to further strengthen and streamline its business operations.

General Average has been declared on the Hapag-Lloyd containership Yantian Express which suffered a container fire on 3 January.

Singapore is enhancing its war risk mutual insurance with the Singapore War Risks Insurance Conditions (SWRIC).

As the UK looks set to crash out of the EU with a no deal Brexit on 29 March mutual insurer North P&I has confirmed plans to continue its European business from Ireland.

Nick Shaw, formerly global industry group leader with law firm Reed Smith, has been appointed new ceo of the International Group of P&I Clubs, to succeed Andrew Bardot who is due to retire next July.

With traditional banks cutting back on ship financing and owners increasingly looking to alternative ways to finance fleet renewal and investment programmes, Chinese banks have climbed to the top of lenders to shipping.

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