London

On 1 July 2026, the International Maritime Organization's first global code for crewless cargo vessels entered force from its London headquarters. It left liability for a shore-based master, safe supervision limits and seafarers' future roles unresolved.

By July 2026, Lloyd's Register in Britain and Norway's classification body had each published separate assurance frameworks. For London, the split matters because the city hosts the UN rule-maker while a London-based classification society helps shipowners prove compliance in the gaps. The code gives the city a central regulatory role, but private technical standards still determine how operators handle questions the global text leaves open.

On 19 June 2026, Lloyd's of London launched a Chubb-led consortium offering $400m of Marine war-risk capacity for vessels crossing the strait of Hormuz. The facility reopened private cover before commercial transits had resumed, putting London-market underwriting inside the route's recovery.

By 17 July, Hormuz war-risk cover had widened to 5% of a vessel's hull value after two tankers were hit in The Gulf. For London, the shift showed how quickly actual losses can reset the price set by underwriters and brokers. The market can restore capacity before a route reopens, but subsequent attacks still determine its cost.