P&I Club 19S
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.
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
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
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
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.
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
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.”
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
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.
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
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
The basic nature of maritime casualties, salvage and wreck removal has evolved rapidly over the last few years. Ships and offshore constructions have become more technologically elaborate, and in many cases simply bigger and more complex than ever
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.
Speaking during Baltic Transport Week in Gdansk this week Andrew Huxley, Development Director at freight transport insurance specialist TT Club, warned port and terminal operators to be aware of the reputational damage that can be a serious consequence of uninsured incidents resulting from
Owners of floating Kodiak strip club indicted by Federal Grand Jury; Wild Alaskan operators accused of dumping raw sewage into Kodiak Harbor, Alaska A federal grand jury returned a three-count indictment against the owners of a floating bar and strip club barge
The TT Club has alerted the supply chain industry to a persistence of claims in a handful of loss types. The international transport, freight and logistics insurance provider said it has found that 66% of its claims by number and 62% by value over a five year period can be categorized into just
Jacqueline Tan, Senior Claims Executive at the UK P&I Club, commented on the ballast water management controls coming into force: “The coming into force of the Ballast Water Management Convention 2004 (“BWMC”) is now imminent
According to The Swedish Club, half of the costs of hull and machinery claims handled by the Club have arisen due to navigational claims such as collisions, contacts or groundings - a figure that has remained steady over recent years despite improved technology and the widespread implementation of