2025年9月IUMI眼科通讯

Issue 50 — September 2025Singapore Conference Edition 2Message from the President3Special feature50 editions of IUMI EYE— and counting!6Opinion: The Egyptian question7To transit or not to transit? The vagariesof engaging with the Houthis andseeking “clearance” to transit the RedSea in 20258Update on the 110th session of the IMOMaritime Safety Committee (MSC 110)10The rising sophistication of freightdiversion fraud11Underwriting with eyes open:What marine insurers should know aboutmodern slavery12Beyond the Time Limit13Navigating EV shipping risks:IUMI updates best practice paper15Evolving risk assessment in marineinsurance: Technology, data, andresilience16Unlocking opportunities:Why insuring small-scale fisheriesmakes sense17Use of “zombie ships”18Reliable liquid transport for a safersupply chain19Packaging redesign and increased cargodamage: A core industry disparity20Preventing heat damage to agriculturalcargoes: Reducing avoidable claimsthrough better fuel management 21When infrastructure fails:Rethinking marine and specialty risk afterthe Baltimore Bridge collapse22International Quality Assessment ReviewBody (IQARB)23Geopolitics in a brave new world24Collaboration in focus:IACS-IUMI Technical Meeting25New AI tools — are the results asexpected?26People at IUMI:Ho Kai Weng,GIA Singapore27Unlocking the power of AI in marineinsurance: From data to actionable insight28Q&A withStephan Hennig, UK SOSREP29Recent developments in the lawof limitation30IUMI welcomes five new ProfessionalPartners31Ambrey Analytics32Atlantis International Services33Idwal34AlSuwaiket and AlBusaiyes Lawyers andLegal Consultants (SB)35RELY Marine & Energy Experts36IUMI tutorial programme37IUMI Tutorial examinations37IUMI podcast series38IUMI awards two WMU bursaries39Fictitious Pick-Ups: The Rise of StrategicCargo Theft40World Maritime Merchants Forum (WMMF)40Imprint A shifting global tradelandscape Frédéric DenèfleIUMI President The latest US administration’s tax regime onimported goods, introduced earlier this summer,is now fully in effect. These newly implementedtariffs have lifted part of the uncertainty thathad recently surrounded trade and shippingoperations with the United States. While this newframework brings greater clarity, it also introducesnew dynamics that the global logistics and marineinsurance industries must closely monitor. emphasis on international cooperation andpeaceful economic growth. In this increasingly unpredictable landscape,shipping and international trade remain in aconstant race for efficiency and flexibility to meetsociety’s demands. Modern technologies andsustainability initiatives are at the heart of currentshipping investments, signalling a fundamentalreshaping of the industry’s priorities. For marine insurers, the implications go beyondUS bound cargo volumes. A potential shift inglobal trade flows may emerge, with goodsoriginally destined for the US redirected toalternative markets. As a result, logistic chains andtransport operations are expected to adapt, whileshipowners and freight forwarders reassess theirroutes, partnerships and strategies to align withthis evolving environment. For marine insurers, these shifts demand adeeper understanding of new risks and evolvingexposures. The global trade environment is nolonger moving toward seamless globalization;instead, it is fragmenting, creating new challengesand opportunities for risk assessment andunderwriting. These themes and more will be explored in depthat the upcoming conference in Singapore and weare indebted to the General Insurance Associationof Singapore (our host) and IUMI’s TechnicalCommittees, Forums and Secretariat for all theirhard work in creating another excellent event. This transformation could introduce fresh risksfor the marine insurance sector. Trade tensionsare yet another layer of disruption added to analready complex environment for logistics andtransportation in 2025. These developments comeon top of ongoing geopolitical crises affectingcritical maritime corridors such as the Black Seaand the Red Sea. Twenty-one years after our first conference inSingapore, this year’s conference offers a uniqueopportunity to reflect on how marine risks haveevolved over the past two decades; to assesspremium trends and casualty patterns acrossbusiness lines; and to anticipate the emergingrisks shaping the future of marine insurance. At the same time, the shipping industry facesadditional structural challenges. The current oilprice volatility has reshaped offshore activitiesand influenced operational costs. An oversupplyof vessels, resulting from ship orders placedbefore the COVID-19 pandemic, is particularlyaffecting the container shipping sector. Andtechnological advancements are acceleratinginvestment in “green vessels” and sustainableshipping practices, driving a transformation infleet composition and operational models. Situated at the heart of ASEAN—a regionof immense influence in global shippingand trade—the conference pr