SCF tankers losing Insurance
Biggest P&I club no longer has tankers from the Russian government-controlled shipowner entered in its database
31 Mar 2022
Michelle Wiese Bockmann lloydslist.maritimeintelligence.informa.com
Thirty-five tankers from Sovcomflot fleet, totalling 3.4m dwt, had been entered with North of England P&I
Sovcomflot has been added to UK’s Russian sanctions list, on top of European Union bans on the tanker owner and operator accessing finance from capital and equity markets.
NORTH of England has become the first P&I Club to remove insurance from Sovcomflot vessels.
About 35 tankers from the Russian government-controlled shipowner are no longer entered with the Newcastle, UK-based insurer.
The removal was noted as Oleg Ustenko, an economic adviser to Ukraine’s president, wrote to the International Group of 13 P&I Clubs asking them terminate cover for 353 vessels that had discharged Russian-origin cargoes of crude, fuel oil and liquefied natural gas that had been loaded since the invasion of Ukraine.