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P&I Club 19S

ConocoPhillips Announces Senior Management Changes

ConocoPhillips announced the following actions concerning the company's senior management: John Carrig, currently executive vice president, Finance, and chief financial officer, will become president and chief operating officer.  He will continue to report to Jim Mulva, chairman and chief executive officer. Jim Gallogly, currently executive vice president, Refining, Marketing & Transportation, will become executive vice president, Exploration & Production. Willie Chiang, currently senior vice president, Commercial, will become senior vice president, Refining, Marketing & Transportation. Greg Goff, currently president, Strategy, Integration and Specialty Businesses for Refining, Marketing & Transportation, will become senior vice president, Commercial. Ryan Lance will remain president, Exploration & Production – Europe, Asia, Africa and the . Messrs. Sig Cornelius, currently senior vice president, Planning, Strategy & Corporate Affairs (PS&CA), will become senior vice president, Finance, and chief financial officer. Jeff Sheets, currently vice president and treasurer, will become senior vice president, Planning & Strategy. Red Cavaney, who will retire from his position as president and chief executive officer of the American Petroleum Institute on Oct. 31, 2008, will become senior vice president, Government & Public Affairs in November 2008. 


UK Club Rating Upgraded by S&P to A (Stable)

Financial rating image credit UK Club

Leading P&I club, the UK Club informs it has received the full report from Standard and Poor (“S&P”) explaining its reasons for upgrading the Club's financial rating. Extracts follow: The report explains that, in assessing the Club’s business and financial risk profiles across a set of criteria, S&P have determined an anchor rating of “A”.  This is based upon the “extremely strong capital adequacy” and “improved operating


Propeller Club Holds Annual Convention

Over 400 participants converged on Biloxi, Miss., to attend the annual Propeller Club Convention. Maritime industry leaders, Propeller Club Members from around the world, Propeller Club Student Port Members and spouses enjoyed informative panel discussions that addressed issues such as Shipbuilding, Terminal Operations, Offshore Drilling Construction, Short Sea Shipping in Europe and the U.S., Inland Waterway Issues, Homeland and Port Security, Ballast Water Issues and others


Crew Medical Initiative Debuted in Ukraine

The American Club is the first P&I insurer to set up a program for pre-employment medical examinations (PEME) in the Ukraine. Claims resulting from pre-existing illnesses have been a big problem for shipowners and P&I clubs alike. However, certain illnesses and medical conditions can be identified during a PEME, and the American Club plans to establish an ‘approved’ list of quality clinics in labour-supplying countries where club members employ seafarers.


UK P&I Club Capital Reaches Record High

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Latest Review of the Year shows enhanced financial strength of UK Club In its Review of the Year 2011, published this week, the UK Club posted total assets of $1.6 billion.    Dino Caroussis, Chairman of the UK P&I Club, commented: “We have achieved our goal of balanced underwriting so that all the $69 million investment return of the year is transferred to the reserves.  The Club’s $478 million free reserves and capital are the highest they have


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 of $494 million •    S&P rating upgraded to: A- (Positive outlook) •    $4.11 free reserves per gross ton


Bulk/Refrigeration Cargo Ship at Auction

International Boat & Marine Auction Services, in cooperation with Marine Business Exchange, Inc. (marinebusinessexchange.com) announced the auction of the 1982 Bulk/Refrig. Cargo Hauling Vessel, M/V June B, to be sold to the highest bidder, no minimum reserve. The auction will take place Wednesday, March 25, 2:00 p.m., at the Freeport Harbor, Bahamas - Mail Dock. M/V June B features: Engine Model # 6LU35 HP 1800 PS Speed 320 RPM 6 Cylinders 4 Strokes Cylinders Bore


UK P&I Club Restructures

UKPI08.jpg

Move intended to increase efficiency under Solvency 2.   The UK P&I Club has announced that it is reorganising its structure to establish UK Europe as the sole provider of direct insurance to UK Club members. By reducing the number of separately regulated insurers from two to one, the UK Club aims to streamline governance, reduce compliance costs and manage more efficiently the Club’s solvency capital requirements whilst meeting the impending Solvency 2 regulations for


China Shipyard Delivers Bulk Carrier to Greek Owners

COSCO Dalian Shipyard has delivered a 57.000 dwt bulk carrier to Common Progress Co Na S.A. of Athens COSCO (Dalian) Shipyard Co., Ltd ("COSCO Dalian"), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered a bulk carrier of 57000DWT, "COMMON FAITH", to its European buyer. The bulk carrier measures 189.99 meters in LOA, 32.26 meters in breadth and 18 meters in depth.


‘Excellent’ rating for UK War Risks

Excellent Rating for UK War Risks

  The UK War Risks Club announced the affirmation of its A- ‘Excellent’ financial strength rating with a ‘Stable’ outlook from the insurance rating agency AM Best. AM Best’s rating reflects the Club’s “excellent risk-adjusted capitalisation, track record of good operating performance and its established business profile as a specialist underwriter of war risk insurance for ships.”


BIG DATA & Maritime: The Downside

Tony Baker, Loss Prevention Director

North P&I Club Warns on Downsides of "Big Data" on Ships There is no question that the era of "Big Data" -- and all that those two words encompass -- will be transformational in the maritime market for the coming generation


Lyden-Kluss, RADM Thomas Appointed IMO Ambassadors

IMO Ambassadors (Top) Carleen Lyden-Kluss and RADM Cari B. Thomas

Mission to educate the public about the benefits and opportunities in the marine industry Carleen Lyden-Kluss, Chief Executive Officer of Morgan Marketing & Communications, along with RADM Cari B. Thomas of the United States Coast Guard were recently appointed IMO Maritime Ambassadors by


Glencore to Lift Iranian Fuel Oil at Bandar Mahshahr

Anglo-Swiss commodity trader Glencore has chartered a ship to load Iranian fuel oil at the Iranian port of Bandar Mahshahr in a move that signals the return of legitimate Iranian crude and oil products to international markets. The Greek-owned vessel, Green Warrior


Yacht Club Takes Delivery of New Dredger

Photo: DSC Dredge

Rose City Yacht Club, a long-standing private marina and social club along the Columbia River in Portland, Ore., recently took delivery and startup of a new 8-inch Badger Class dredge from Reserve, La.-based DSC Dredge, LLC.   The Badger dredge was a much-needed replacement for an older


Need to Monitory Coal from Indonesia - UK P&I

Indonesia coal mining Photo Adani- Indonesia

  There are various hazards associated with the trade in coal. UK P&I Club’s Loss Prevention Team highlights the risks involved, and advises on the relevant actions to take in order to reduce accidents.   Self-heating incidents involving coal cargoes loaded at Indonesian


S&P Raises Steamship Mutual outlook to Positive

Pic Credit Steamship Mutual

  Poor’s has revised its outlook on Steamship Mutual to Positive from Stable. The A- financial strength rating has been reaffirmed. In their announcement Standard & Poor’s note: • the Club’s risk-based capital is expected to remain extremely strong;


Swedish Club Maintains Balanced Approach

Courteesy The Swedish Club

  The Swedish Club has announced a zero per cent General Increase for 2016, in a move which supports the continued balanced approach adopted by the Club considering the state of the global shipping. At the Club’s Board Meeting in London, Lars Rhodin


Swedish Club Maintains 'Balanced Approach'

The Swedish Club has announced a zero percent General Increase for 2016, in a move which supports the continued balanced approach adopted by the Club considering the state of the global shipping market.   At the Club’s Board Meeting in London, Lars Rhodin


Prevent Costly Cargo Wetting Damage

An important element of a vessel’s seaworthiness is its ability to resist the ingress of sea water into internal spaces. Yet members are continuing to experience high value cargo damage claims relating to the ingress of water in cargo holds


When is a Master Entitled to Refuse Damaged Cargo? A Reminder from the Standard Club

Image: Standard Club

 A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreement between shippers, charterers and carriers.   Under Article III Rule 3 of the Hague/Hague Visby Rules after receiving the cargo


Ship Owners to See Reduced P&I Premiums in 2016

Image: Gulf Agency Company (GAC)

 Despite protection and indemnity (P&I) Clubs announcing that they are trying to achieve on average 2% increases in premium, ship owners with good records can look forward to reductions in premiums for P&) insurance at the 2016 renewals, according to Willis Group Holdings


East-West Shippers See Contract Rates Slide

Ocean freight rates for cargo moving under contracts on the major East-West trade routes saw another reduction in the last quarter of 2015, according to Drewry’s Benchmarking Club, a closed user group of multinational retailers and manufacturers who closely monitor their contract freight


Carnival Corp. to Launch Four New Ships in 2016

ms Koningsdam (Photo: Holland America Line)

Eyeing expanding global cruise market, four of Carnival Corporation’s 10 brands prepare to add new ships in 2016   Carnival Corporation & plc will launch four new ships in 2016 across four of its global cruise brands. These additions are part of the 17 ships scheduled for delivery


Japan to Employ Sovereign Insurance for Iranian Imports

Japanese buyers of Iranian crude will have to keep using special sovereign shipping insurance to import oil for the foreseeable future, despite the lifting of sanctions against Tehran, industry and government sources said on Monday. Shippers face uncertainty over whether they can get coverage


GAC’s Meena Wins IMC Golden Shield Award

Meena Mathews with the award Photo courtesy GAC

The International Maritime Club presented Meena Mathews, GAC’s Regional P&I Manager for the Middle East, with its Excellence in Marine Claims Management accolade at the IMC Excellence Awards ceremony at the Ocean Blue in Sharjah, UAE, this week.






 
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