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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

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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.”


North P&I Suggests Owners Join the CSO Alliance

North P&I Club has partnered with CSO Alliance, an online community of maritime company security officers (CSOs), to encourage its members to join and take part in security-related information sharing. In a first for the P&I sector, all CSOs in North’s 131 million GT owned fleet will


Seafarers International House Honors Maritime Leaders

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Members of the maritime community gathered last evening at the New York Athletic Club to honor three of its leaders: H. Marshall Ainley (President, Marine Engineers’ Beneficial Association), Ian T. Blackley (President & CEO, Overseas Ship Management, Inc.) and Raymond J. Burke Jr


Nautical Institute (Singapore) Branch Inaugurated

The inauguration of new Nautical Institute (Singapore) Branch Photo Nautical Institute

The inauguration of new The Nautical Institute (Singapore) Branch was hosted by the Singapore Shipping Association and sponsored by the Shipowners’ Mutual Protection and Indemnity Association (Luxemburg), Singapore Branch, during Singapore Maritime Week.


Dangers Arising from Carriage of Indonesian Coal

The London P&I Club has issued a warning about continued problems associated with the carriage of Indonesian thermal or ‘steam’ coal, following a number of recent incidents involving owners and charterers.   Indonesian coal has a propensity to self-heat and/or emit methane


Swedish Club Report Shines Light on Vessel Claims

image: Swedish Club

The life of seafarers is never straightforward, and as a new report from the Swedish Club shows, the hazards and job complexities they face are very much dependent on the type of vessel they find themselves crewing.   In P&I Claims Analysis, published this week


Venture Insurance Programs Acquires Tidal Solutions

Philip J. Harvey, president of Venture Insurance Programs

Venture will rebrand and integrate Tidal Solutions specialty commercial marine products into its portfolio of industry leading programs. Venture Insurance Programs, a national insurance program administrator, today announced it has acquired Tidal Solutions, LLC, a Charlotte


Fire Destroys 6 Boats at Port Orchard Yacht Club

U.S. Coast Guard photo courtesy of Sector Puget Sound Incident Management Division

 Six boats and 10 housing sheds were destroyed by a fierce fire early Sunday morning at the Port Orchard Yacht Club.   South Kitsap Fire officials say the fire broke out around 3 a.m. at the yacht club on Bay Street.   


Ship Insurers Plug Hole in Iran Oil Cover Left by US Sanctions

File photo: MOL

Ship insurers have stepped in to help plug a shortfall in cover for transporting Iranian oil resulting from the fact that U.S. reinsurers are still restrained by Washington's sanctions, according to officials involved in the initiative.  


US Drillers Cut Rigs for 14th Week in a Row

U.S. energy firms this week cut oil and natural gas rigs for a 14th week in a row to the lowest level since at least 1940, data showed on Thursday, as energy firms continue to slash spending as part of the deepest energy price rout in a generation.  


Crowley Awards Scholarships to Four SUNY Maritime Cadets

Richard Scales, Daniel Press, Andrew Scalice and Conner McDaniel (Photo: Crowley)

Crowley Maritime Corporation’s 2016 Thomas B. Crowley Sr. Memorial Scholarships have helped to further educational opportunities for four students of State University of New York (SUNY) Maritime College. The recipients, who will each sail with Crowley this summer


ICS Deliberate on “Legal Issues relating to Shipping & Ports”

Conference in session Photo ICS

ICS, East India Branch conducted conference on Legal matters pertaining to Maritime Sector prior to joining hands with M/s Hinode Events a Knowledge Partner to serialise this an Annual Conference on Legal Maritime Legal matters. The Branch takes pride to state that "The Ministry of


Swedish Club: Consistent Underwriting in Challenging Year

The Swedish Club reported to its board today that it has achieved a consistent 2015 underwriting performance with financial stability and cost-efficient quality services for its members. It delivered a balanced underwriting result, despite higher claims activity and increased volatility


North P&I Warns of Risks of Reduced Generator Capacity

North P&I Club is advising its members to be aware of the potentially severe consequences of poorly maintained or overloaded on-board generators being unable to meet the electrical demands of ships at sea. The warning comes in the latest issue of the club’s loss prevention newsletter


ITIC to Pay Continuity Credit for 21st Year in Succession

Stuart Munro (Photo: ITIC)

For the 21st year in succession, International Transport Intermediaries Club (ITIC) is to pay a continuity credit to all those members who renew their insurance cover during the 2016 policy year, which begins on June 1, 2016.   The CEO of ITIC, Stuart Munro, explains


P&I Club Warns: Failure to Comply with SOLAS Amendment

Courtesy UK P&I

· Some terminals and shippers are unprepared for the enforcement of the SOLAS amendment on 1st July · Without steps to address the requirements of the SOLAS amendment, chaos and commercial disputes may ensue · A failure to comply will result in fines






 
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