Shipping companies that transport the world's coal are in the crosshairs of some financial backers who are cleaning up their businesses in the absence of a truly global drive by nations to renounce the dirtiest fossil fuel.In a sign of investors taking the initiative, six European firms collectively representing over 5% of the estimated annual $16 billion capital financing requirements of the
Will Roberts joined Seattle-based Foss Maritime in 2017 as chief commercial officer, and in 2018 he was named chief operating officer. Prior to joining Foss, Roberts held a number of leadership roles for marine systems and services provider Rolls-Royce, rising to senior vice president, customer and services–Americas. A U.S.
Insurers have raised the cost of providing cover for merchant ships through the Black Sea, adding to soaring rates to transport goods through the region for vessels still willing to sail after Russia's invasion of Ukraine.Ship owners pay annual war-risk insurance cover as well as an additional "breach" premium when entering high-risk areas.
Insurers are bracing for a hit of about $1 billion from physical damage to offshore rigs and structures from Hurricane Ida, according to preliminary estimates from U.S. property data and analytics company CoreLogic.The estimate did not include losses from production disruption and could be revised over time, a spokesperson for CoreLogic said.