The London P&I Club has confirmed that, as at February 20, 2003, claims for the 2002 policy year were ten percent lower than for the 2001 policy year, and thirty per cent lower than for the 2000 policy year. Writing in the latest issue of its London Club News, the Club says the downturn in claims over recent years is “a great source of encouragement”. It adds that this positive trend, coupled with an improving fleet age profile and the Club’s proven ability in a difficult market to maintain calls in line with original estimates for many years, “bodes well for the continuing success of the London Club”. In April, the London Club Committee reaffirmed an initial supplementary call for the 2003/2004 policy year of forty per cent for the P&I class, in line with the estimate first advised in November 2002. Paul Hinton, Chief Executive of A Bilbrough & Co, managers of the London Club, says, “Financial stability is of fundamental importance to the London Club, its managers, and its members. The Club’s sound financial base and the steps taken towards supporting its reserves, without recourse to third-party financing, are crucial elements in maintaining its overall strength.”
THE London P&I Club has drawn attention to the continuing need for recognition and understanding of psychological disorders affecting those employed in the shipping industry. In the latest issue of its StopLoss Bulletin, the Club indicated that psychological problems are often not identified, or dealt with, as quickly, as knowledgably or as sympathetically as is the case with physical illness and injury. The Club quotes Prof Francesco Amenta, CIRM Scientific Director
The London P&I Club said the lifting of an iron ore ban in India, together with the recent total loss of two ships, has put the spotlight once again on the problem of cargo liquefaction. In the latest issue of its StopLoss Bulletin, the club said, “There are specific challenges involved in the export of iron ore fines from Indian ports during the monsoon season which can increase the moisture content of the cargo to levels where liquefaction can occur
With the arrival of MOL Caledon, DP World’s London Gateway received its first scheduled ship call last week. Specialist freight transport and cargo handling insurer, TT Club provides the liability cover for the U.K.’s newest container terminal. The sheer enormity of the operation at London Gateway is underlined by the vital statistics it will boast when it is completed – 2,700 meters of quayside, 24 gantry cranes (each weighing more than 1
Rayfield Mills a U.K.-based firm of solicitors specializing in maritime and international trade law, opened a new office in London today. Located at 150 Minories, the new office is in the heart of the capital’s shipping and insurance sector. The move to London gives Rayfield Mills the opportunity to consolidate and expand its insurance practice as well as reinforce its relationships with leading P&I clubs. Lloyd’s underwriters other London-based clients
Three heroic teams of oarsmen from Thomas Miller P&I in London as well as sister team at Thomas Miller Asia-Pacific have all successfully completed their legs of the Big Row charity event. In total some eighty teams from the international maritime community took part in a 'virtual' row of the length of Lake Malawi to raise funds for the ongoing refurbishment of the 'MV Chauncy Maples' as a medical clinic ship. The main event took place in Spitalfields Market in the City of London on the
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. have been chosen by the LISW Steering Group to be the beneficiaries of fund-raising efforts during the week-long shipping showcase. London International Shipping Week kicks off with a Charity Golf Day at Walton
Insurance specialist in the global freight industry, TT Club, sees proliferation in technological capabilities & tailored supply chain processes. A long-term supporter of the British International Freight Association (BIFA) Awards, TT Club sponsored the 2012 European Logistics Award. TT Clubs Development Director for UK and Ireland, Brian Sullivan was part of the judging panel that employed a stringent vetting process to find the winner, Delamode International Logistics
Excellent financial results have been reported by the Shipowners’ Club for the trading year ending February 2011. Positive growth or improvements across almost all parameters have been recorded, from increased tonnage and numbers of vessels entered, to an up-lift on gross earned premiums to US$196.8 million (up 13% on last year) and an underwriting surplus of US$25.2 million. Chairman of the Club, Donald MacLeod puts the recent success of the Club down to the diversity of its
The UK P&I Club is absolutely committed to maintaining a vibrant loss prevention program and its latest move is a new DVD that places a specific focus on the Bow Tie concept - a comprehensive risk assessment initiative which helps members identify and prioritize risk across their whole fleets. According to the Club’s Loss Prevention Director, Karl Lumbers, the DVD, titled ‘No room for risk’, will be a very effective form of communication when conveying the Club’s
2015 saw further growth in total Group entered tonnage, which increased from 1,047 billion GT as at August 2014 to 1,088 billion GT as at August 2015, says annual review of International Group P&I Clubs (IGP&I) published by Gard on July 14, 2016.
The United Kingdom has become the first State to formally accept the 2013 marine geoengineering amendments to the 1996 “London Protocol”, the treaty covering dumping of wastes at sea. The amendments support the precautionary approach by providing for specific
The United Kingdom has become the first state to formally accept the 2013 marine geoengineering amendments to the 1996 “London Protocol”, the treaty covering dumping of wastes at sea. The amendments support the precautionary approach by providing for specific marine
The American Club reported solid progress during 2015 at the annual meeting of its members held in New York yesterday. Despite a challenging economic climate, the Club’s business developed respectably, and 2016 had started on a positive note.
The boards of the UK P&I and Britannia Clubs since February 2016 have been in discussion regarding a potential merger between the two clubs. While a number of potential synergies and benefits were recognized, no agreement could be reached on acceptable terms
Enormous quay cranes, which arrived at DP World London Gateway on Wednesday morning, will enhance U.K. trade infrastructure Two more of the U.K.’s most technically advanced quay cranes were brought up the River Thames on Wednesday
Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight
Ocean freight rates for cargo moving under contracts on the major East-West trade routes fell by another 18% between February and May, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight rates
TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year. Knud Pontoppidan, Chairman of TT Club, said, “After very good years in 2013 and 2014
The London P&I Club says it continues to see cases of injuries and fatalities associated with entry into enclosed onboard spaces, including cargo holds on bulk carriers where atmospheres have not been treated as potentially dangerous.
North P&I Club reports that an exceptionally low year for claims has helped it increase its free reserves by $90 million to $428 million and deliver a combined ratio of 73.3 percent in the financial year ended February 20, 2016. This brings the combined ratio average of the past five years
At an International Maritime Organization (IMO) Maritime Safety Committee session in London that culminated on Friday, delegates agreed on guidance and advice to both those active in the container supply chain globally (shippers, carriers and port operators)
Eniram Limited, a provider of fuel-saving technology and data analytics to the shipping industry, has announced that it is expanding its European operations by opening a new office in Central London. "Our new office is located in the heart of the London shipping community
The London P&I Club’s result for the 2015/2016 financial year produced an overall operating surplus of $3.3 million, lifting the free reserve to $160.7 million. This result was underpinned by a technical underwriting surplus of $15.3 million, with the combined ratio standing at 82
Disciplined underwriting delivers another successful year London, 11 May 2016 – The UK P&I Club (“The UK Club”), one of the leading shipping protection and indemnity mutual insurers, announces its financial results for the year ended 20 February 2016.