Latest news from Heavy Lift & Project Forwarding International Magazine

Ironshore insures BRI's project cargo

July 27 - Pembroke Managing Agency, part of the international insurance company Ironshore, has launched a project cargo consortium on Lloyd's China related to China's Belt and Road Initiative (BRI).

According to Pembroke, project cargo has emerged as the most significant risk exposure for the BRI, as the corridor includes sea trade lanes.

Pembroke Lloyd's Syndicate 4000 will offer cargo transportation cover, large-scale risk exposure and start-up delay coverage for China's Belt and Road undertaking.

The multi-billion dollar BRI involves building a network or roads, ports, bridges, tunnels, pipelines and deepwater Arctic ports that will connect Asia, Europe and Africa. The consortium will offer insurance capacity limits of up to USD178 million.

Mark Wheeler, ceo of Ironshore International, said the new consortium for China cargo line risks "replicates the approach and risk appetite of Pembroke's project cargo consortium in the Lloyd's market, which currently is the largest of its kind for targeted marine lines."

He added: "Pembroke's presence in the region enabled us to create the consortium, extending sector underwriting capabilities to cover China risks."

Cargo Solutions (CSL) is currently appointed as the surveyor for the project cargo consortium.

 

www.ironshore.com

www.cslglobal.com

Heavy Lift | News

Breakbulk Europe kicks off thumbnail image

Breakbulk Europe kicks off

May 21 - More than 550 exhibitors are preparing for the start of this year’s Breakbulk Europe exhibition, which kicks off later today in Bremen. 
Views: 152
Multipurpose charter rates dip thumbnail image

Multipurpose charter rates dip

May 21 - Time charter rates in the multipurpose shipping sector have declined over the last month, according to the latest data from shipbroker Toepfer Transport.
Views: 221
Drake closes Cometto deal for ANI thumbnail image

Drake closes Cometto deal for ANI

May 20 - The Drake Group, in its capacity as representative of the Cometto brand in Australia, has received an order from Australian Naval Infrastructure (ANI) for 16 self-propelled MSPE modules.
Views: 277

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.