Uninsured shadow fleet vessels are a growing concern for insurers
‘Crucially, these [shadow fleet] ships are not supported by the International Group P&I pooling and reinsurance system. That means no collective claims-paying strength, no guaranteed pollution response funding and limited confidence that liabilities will be met,’ says Darren Stewart, head of marine at IQUW
The increasing threat of collisions involving dark fleet vessels is becoming a serious issue for marine insurers, legal experts and underwriters say. Concerted action is needed
