J. Arnold Witte Sr., President and CEO of Donjon Marine, Co., Inc. has been named Chairman of the American Steamship Owners Mutual Protection and Indemnity Association, Inc. (the American Club). The Club, established in New York in 1917, is a member of the International Group of Protection and Indemnity (P&I) Clubs, a collective of 13 mutuals, which together provide P&I insurance for some 90% of all world shipping. In addition to Mr. Witte’s duties with Donjon and the American Club, Mr. Witte Sr. is a Past President of the American Salvage Association (ASA), as well as a Past President and current Vice President of the International Salvage Union (ISU).
Under Standard & Poor’s Ratings Services’ latest review, the American P&I Club’s financial strength rating has been raised a full notch from BB+ to BBB-, an investment grade, with a stable outlook. This action follows a comprehensive review of the club’s current and prospective circumstances by reference to S&P’s new criteria for the rating of insurance companies which it has now extended to 14 marine mutual insurers.
The American Club, the only mutual protection and indemnity insurer domiciled in the Americas, has revealed very positive overall results for the February 20 renewal season. Tonnage entered for owners’ P&I risks increased by over 11% year-on-year as at February 20, while that entered for defence risks grew by over 30%. There was an overall premium increase of slightly under 8% for P&I on renewing tonnage, and nearly 6% for the club’s defence class
In a move to return premium rating to levels more in line with current and expected claims exposure, allied to the need to maintain the club’s future financial strength, the directors of the American Club have advised members of rate increases for the 2002 policy year. A general increase of 12.5 percent will apply to all expiring advance call premiums as of February 20. In addition, the estimated supplementary call for 2002 will be raised from 25 percent to 40 percent of the advance call
The American P&I Club has announced a general increase of 17.5% in total premium for its P&I business for the 2004/2005 policy year following a meeting of the directors in Copenhagen. Any increase in the cost of the International Group’s reinsurance programme, which has not yet been determined, will also apply. As usual, and in line with other mutual clubs, individual members’ premium ratings will be adjusted in accordance with their loss records.
TT Club, established to fill a gap in insurance as the freight container revolutionized trade, celebrates 45 years dedicated service to the transport and logistics sector. In 1956, the first strengthened containers were loaded onto a spar deck of the converted tanker, Ideal X. This marked the fulfilment of a dream for American trucker Malcom McLean who had, since 1937, been working on how to reduce the long waiting hours for dockers to stow or unload his vehicles onto or off ships
The American P&I Club has updated its advice to members on the handling of steel cargoes. It has done so in consequence of some recent cases where the absence of pre-loading surveys increased the cost of steel cargo claims on discharge. It first raised the problem in a March 2002 circular, making extensive recommendations so as to minimise the prospect of spurious steel cargo claims. In a new circular, Shipowners Claims Bureau, Inc
Captain John C. Timmel, president and executive director of the American Victory Mariners Memorial & Museum Ship and harbor pilot with the Tampa Bay Pilots Association, has been named "International Maritime Person of the Year" by the Propeller Club of the United States. "It is an honor to receive such a prestigious award from my peers that acknowledges not only my efforts, but also the efforts of many," said Timmel.
Dr Matthias Reith, director of German bulk carrier owner Orion Schiffahrtsgesellschaft Reith & Co of Hamburg, helped the North of England P&I club celebrate 21 years of working with the German shipping industry today. Speaking a major industry reception organized by the club at the Zipplehaus restaurant in Hamburg, Dr Reith said 'In 1982 Orion became the first company from Germany to join the North of England. The club now insures 36 fleets in Germany and works with 11 of the German-based
The EU Hybrid Marine (HyMar) Project - a collaborative research project led by the International Council of Marine Industry Associations (ICOMIA) funded under the EU's Seventh Framework Research Program - will receive an award at the Royal Thames Yacht Club’s Mansura Trophy Awards Ceremony on March 21, 2013 at the Royal Thames Yacht Club. The primary aim of the HyMar project was to provide reliable and practical information about the effectiveness of marine hybrid propulsion in small
More than 250 shipping and insurance professionals gathered for the first ever Asian Maritime Casualty Forum held during Singapore Maritime Week. The two-day conference, hosted by global marine and engineering consultancy London Offshore Consultants (LOC)
TT Club’s Phillip Emmanuel has put into perspective some of the “sensationalism” surrounding the recent growth trend in containerships. Speaking during a plenary session of the TOC Asia Conference in Singapore on Tuesday, he advised ports and terminals to take a measured approach
Congressman Garamendi Makes Case for Revitalization of American Shipbuilding Industry and American Jobs at Bay Planning Coalition Meeting in Oakland Today, Congressman John Garamendi (D-Fairfield, Calif.), the Ranking Member of the House Committee on Transportation and
First Lady of New Orleans, Cheryl Landrieu, to Christen American Cruise Lines’ American Eagle riverboat American Cruise Lines announced the christening of its second Mississippi River paddlewheeler, the American Eagle, on April 25, 2015 in New Orleans
On Thursday, March 19, 2015, Arthur H. Thomas, Sr., president and CEO of Helix Alliance, Inc., received the Chapel of Four Chaplains Legion of Honor Award. The award was presented by retired Capt. Louis Cavaliere, U.S. Navy, chairman of the Four Chaplains Memorial Foundation
Iran is expecting American shipping lines to visit its ports once the economic sanctions against it are lifted in light of the emerging comprehensive final agreement over the Iranian nuclear energy program, reports Press TV. Iranian deputy minister of road and urban development
Crews are continuing their response and investigation Saturday for an unknown substance that was released Friday into Lake Erie at the Forest City Yacht Club in Cleveland. The spilled product coming from an outflow pipe near the marina appears to have ceased.
The rapprochement between the United States and Cuba could mean that tens of thousands of U.S. yachts could soon descend on the island, an influx for which the country's infrastructure is not prepared, Agence France-Presse reported.
WISTA USA (Women’s International Shipping and Trading Association) is putting the final touches on a high-profile speaker line-up that will headline its upcoming 2015 Annual General Meeting & Conference in New York City, scheduled for Friday, May 15, 2015
Drydocks World and Maritime World have won the Excellence Award given by the International Maritime Club at the Golden Bells Awards 2015 - Middle East. Drydocks World Group has won the Best Maritime Conference Award in recognition of their successin organizing the “2nd Mare Forum Dubai
The Swedish Club reported a solid operating result to its board today, continuing a record of building on steady growth. 2014 was seen as a stable year, where the underwriting result outperformed the financial performance and the insurance products across the board returned a staunch to high
The Swedish Club reported a solid operating result to its board today, continuing a record of building on steady growth. 2014 was seen as a stable year, where the underwriting result outperformed the financial performance and the insurance products across the board returned a staunch
Yatching Malta Ltd (YML) - a new public private partnership (PPP) between the government and the Royal Malta Yacht Club (RMYC) was formed with the aim of putting Malta on "the global yachting map". Prime Minister Joseph Muscat launched YML at the club's headquarters in Ta
Captain Joseph Frohnhoefer, Jr., the founder and CEO of Sea Tow Services International, died Tuesday at the age of 71. He passed at his home in Southold, NY after a battle with cancer. Frohnhoefer founded Sea Tow, which now has over 100 locations across the U.S
If you own a ship with a gross tonnage (GT) of or above 300, you must inform the Danish Maritime Authority about your insurance for maritime claims by 31 March 2015. The requirement does not apply to foreign ships. It is about time to check your insurance for maritime claims.