American Club
Witte Named Chairman of the American Club
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).
American Club Raises Premium Levels for 2002
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
American Club Sets 17.5 Percent General Increase in P&I Rates
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.
P&I Club Celebrates 21 Years in Germany
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
TT Club Announces 2002 Results
The Board of TT Club has announced its financial year 2002 results. The Club posted a full year after tax surplus of $10.7 million (from a 2001 loss of US$40.2 million), supported primarily by a positive technical underwriting result of US$6.6 million (an improvement of US$35.5 million) and an increase in investment income. As a result the Club's free reserves (undiscounted) rose by 27 percent to US$50.2 million.
Timmel Named International Maritime Person of the Year
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.
State of the P&I Market: As Stocks Drop, Rates Will Rise
The 13 P&I Clubs within the International Group continue to dominate the world market for shipowners' liability insurance despite increasing competition in recent years from fixed premium facilities. The development of the fixed premium market and, in particular, the rapid growth of the P&I account of the marine and energy syndicate 329 at Lloyd's led by Jonathan Jones, served to increase pressure on premium rating in recent years
The London Club Announces Increased Free Reserves
The London P&I Club completed its 2002/2003 financial year in a healthy position. Free reserves increased to USD82.7m. In its Annual Report for 2003, The London Club confirms that the 25% increase in advance call rates achieved for 2003 has been designed to maintain its record of consistent Supplementary Calls, which have been stable for over a decade, despite the challenging conditions for the P&I industry in recent years.
London Club Completes Financial Year
The London P&I Club completed its 2001/2002 financial year in a healthy position, with free reserves of more than $80m. In levying its supplementary call for the year in line with original estimates, the Club has also maintained the stability of its supplementary calls for ten successive years. The year was a difficult one for marine mutual liability underwriters. P&I premiums, however, hardened in the wake of the marked increase in earlier
Swedish Marine Insurers: Achieving Stability In A Stormy Market
While the impact of poor freight rates and low oil prices have been felt in all quarters of the Scandinavian maritime industries, the region's hull underwriters and P&I Clubs continue to benefit from the relatively strong domestic shipping and energy sectors. Scandinavian marine insurers have demonstrated resilience in challenging market conditions. The global hull market remains in a downswing of unusual severity. As for the P&I sector, the past 12 months have had a nervous character
Bulk Cargo Loading Instant Prompt Published
UK P&I Club, Lloyd's Register and Intercargo have produced a pocket guide & checklist for ship's officer and agents who arrange cargoes for loading. The P&I Club explains that when bulk cargoes shift, liquefy, catch fire or explode as a consequence of poor loading procedures
UK P&I Club Pocket Guide for Safe Carriage of Solid Bulk Cargoes
When bulk cargoes shift, liquefy, catch fire or explode as a consequence of poor loading procedures, the consequences can be massive. Ships may capsize, lose stability or sustain severe structural damage. Such happenings enhance the risks and occurrence of death, injury, insurance claims
London P&I Club Reports Increased Free Reserves
The London P&I Club’s result for the 2012/2013 financial year was a surplus across all classes of $9.4 million, increasing the free reserve to $154 million. Claims experience over the financial year was mixed, the company said
Steamship Mutual Addresses Underwriting Imbalance
Steamship Mutual released interim financial results for the year ending February 20, 2013. As with all international group clubs, underwriting performance for the year ended February 20, 2013 was adversely affected by the worst pool experience on record
TT Club Reports Positive Trading Performance
Specialist liability insurer for the international transport and logistics industry TT Club said it had another good performance for the year ended December 31, 2012, with further increased gross written premiums, and the club now maintains its A- (Excellent) rating for the past eight years.
Seattle Propeller Club Honors Veentjer and Dwyer
The Seattle Propeller Club announced the winner of the 2013 Puget Sound Maritime Achievement Award as Captain John Veentjer, Puget Sound Marine Exchange Executive Director, aboard Princess Cruises cruise vessel Sapphire Princess while berthed on Pier 66 at the Port of Seattle’s Bell Street
London International Shipping Week Set to Benefit Seafarer Charities
Four leading charities supporting seafarers and their families are set to benefit from the inaugural London International Shipping Week (LISW), taking place in the U.K. capital this September. Apostleship of The Sea, Mission To Seafarers, Sailors’ Society and Seafarers U.K
Disciplined Underwriting Increases UK P&I Club Free Reserves
The UK P&I Club, one of the largest and oldest providers of mutual liability insurance to ship owners, announced its financial results for the year ended February 20, 2013. Highlights • Surplus of $9.5 million increases free reserves and hybrid capital to new high
Upcoming NAMEPA National Maritime Day Seminar
'Safety at Sea' focus of NAMEPA's National Maritime Day seminar at the Washington DC National Press Club. The North American Marine Environment Protection Association (NAMEPA) will be offering a seminar “Environmental Intelligence in Maritime: Safety at Sea"
How to Comply with MARPOL Annex V
Recent amendments to Annex V of the International Convention for the Prevention of Pollution from Ships (MARPOL) have created a tougher regime for shippers and crews over discharges into the sea. The U.K. P&I Club received numerous enquiries from members concerned about their obligations under
AMO Support Senator's Quest for Cruise Ship Information
The American Maritime Officers Association (AMO) supports Senator Rockefeller's approach to the Cruise Lines International Association. The American Maritime Officers Association, the nation's largest professional merchant marine organization, says the widely publicised letter by U.S
China Delegation Visits UK P&I Club
A delegation from Xiamen, China accompanied by the CEO of COSCO UK visit the London offices of Thomas Miller. The purpose of the visit by the delegation was to understand more of the shipping/insurance sectors in London and to foster good relations.
David Williams Awarded Emery Medal
David Williams, CEO of the Noble Corporation, was honored as the Massachusetts Maritime Academy’s “Salute to the Maritime Person of the Year” at the Petroleum Club in Houston. Mr. Williams was awarded the Emery Rice medal, the Academy’s highest award presented for
Great Lakes June 2013 Symposium
Cleveland Metropolitan Bar Association is to present a public program featuring a range of important issues concerning the Great Lakes. The Great Lakes Symposium is a first-of-its- kind public program focusing on timely legal issues impacting the Great Lakes
Negative Findings Reported on Enclosed Space Entry
The London P & I Club noted that reports generated during the club's ship inspection program show an increase in negative findings in relation to enclosed space entry on board ships. It said incidents continue to occur year-on-year despite a global acceptance of industry standard procedures