Britain To Build A ‘National Flagship’ To Promote Maritime Trade
by Alistair Smout (Reuters) – Britain is to build a new flagship to promote its business and trade interests around the world, the government said on Saturday, in a move it...
The club’s reinsurance program will be affected by the new European Union sanctions which “will impact [its members’] ability to make a recovery from Japan P&I as the Club is not able to pay out on claims in relation to which it can make no recovery from reinsurers,” the club said in a statement posted on its website.
However, “the Japan Club may continue to insure non-EU based members who transport Iranian crude oil” as long as the ships involved aren’t registered within the EU, the voyage is outside the jurisdiction of the EU and no EU nationals are involved, it said.
-By Benoit Faucon; Dow Jones Newswires
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