Navigating the reefs and shoals of Russia's rocky insurance
shores

VEXING indeed is the task of determining the type of insurance needed in Russia, writes Alexander Petrenko, head of Moscow's Panditrans' liability and marine cargo insurance department.
As the London-based maritime insurer TT Club's partner in Russian, Mr Petrenko set out to explain how one navigates the reefs and shoals of Russia's rocky insurance shore at the recent Trans Russia Conference in Moscow.
Horror stories abound. There was the theft of 16 containers with electronic goods moving from Finland to Moscow, resulting in a claim of US$1.3 million.  >More
 

Despite tensions, bonds are strong between Hamburg and
St Petersburg ports

THE new deep-water port of Bronka on the outskirts of St Petersburg on the southern bank of the Gulf of Finland is being built near the municipality of Lomonossov and it's set to be the latest partner of Port of Hamburg, writes Jake Frith.
The first stage of construction of the new multi-functional port will commence operations in September, Mr Frith writes in the Maritime Journal of Hampshire, England. The multi-functional handling facility comprises terminals for handling containers and ro/ro cargo, along with a logistics centre for packing and warehousing services.
Covering a total of 107 hectares, the container terminal offers five berths on quays extending for 1,176 metres. With a quay length of 630 metres sufficient to permit handling of three vessels simultaneously, the ro/ro terminal covers 57 hectares.  >More
 

Sick man of Europe is the Eurozone with feckless Greece,
thrifty Finland suffering alike

WHILE North America appears to be in a state of hesistant, if not fitful recovery, the Sick man of Europe - the Eurozone itself - seems to languishing is a state of ennui unable to rouse itself from its slump.
To a great extent, its power to do that will determine the fate of shipping, and the mega-ships that now crowd the trade lanes between the Far East and Europe.
Neil Irwin, writing in the New York Times, raises interesting point about European problem, starting with Greece and its spendthrift ways, but quickly coming to focus on Finland, which despite its unquestioned thrifty virtues has suffered similar outcomes as its feckless southern neighbour.  >More
 

Hong Kong appears on EU tax avoidance blacklist much to
HK Government's chagrin

HONG KONG is most upset at being named as one of the top 30 non co-operative jurisdictions by the European Commission because it is not doing enough to fight tax avoidance,
But Hong Kong says it has done its bit. It is a member in good standing of the Global Forum on Transparency and Exchange of Information for Tax Purposes (the Global Forum). It underwent a two-phase peer review by the Global Forum. Both Phase 1 and Phase 2 reviews (completed in 2011 and 2013 respectively) have duly recognised Hong Kong's commitment to meeting the international standard on tax transparency.
"Hong Kong has all along been supportive of international efforts to enhance tax transparency and combat tax evasion. >More