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
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.
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 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
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
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
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.”
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 Club’s tonnage and revenue experienced some attenuation in 2015 as global trade slowed and freight markets continued to struggle. Following the 2016 renewal
A national workshop on theInternational Maritime Organization (IMO) liability and compensation conventions is underway in Bangkok, Thailand (8 -11 November). The workshop is providing a comprehensive overview of the IMO liability conventions
As part of a major initiative to promote hazard awareness throughout the shipping industry, the International Chamber of Shipping (ICS) and The Standard Club have issued free safety posters to shipping companies worldwide.
The UK P&I Club said it has agreed at its board meeting on November 19 to a mutual premium discount of 3 percent on the total mutual call for the 2015 policy year. In the current shipping environment, the board has decided it is prudent to revise the club’s approach to the
Stewart B. Nelson, Ph.D. - B. June 9, 1937 D. September 12, 2016 Dr. Stewart B. Nelson URI -MMA 1974, oceanographer, explorer, author, lecturer and marine historian passed away of complications related to cancer on September 12, 2016 in Tampa, Fla
During the incident involving Dream II Very Large Crude Carrier (VLCC) and MSC Alexandra (Container Ship) on 3rd August, 10 empty containers fell overboard. (See report in Marinelink ) Of these, five fell overboard onto the deck of Dream II VLCC and another five fell into the sea
W&O, a distributor of pipe, valves, fittings as well as automation and engineered solutions, announced the promotion of two associates: Lori Ulrich to Director, Human Resources and Tammy Emerson to President, Propeller Club of Jacksonville
BMT Group subsidiary BMT Designers & Planners Inc. said it has been awarded a Blanket Purchase Agreement (BPA) to provide Human Systems Integration (HSI) engineering and technical support for the U.S Coast Guard. With a BPA funding ceiling of $9
The ISCO-BIMCO spill response contract was well received at the ACI Maritime Salvage and Casualty Response Conference that took place in London last week. The contract is still under development, but is expected to be published towards the end of this year.
B&G has introduced the new Vulcan 9 sailing chartplotter – a large touchscreen chartplotter for coastal cruising and club racing sailboats, that provides sailors with incredible value. The new 9-inch chartplotter delivers innovative sailing functionality controlled through a bright
Australia on Monday reached a A$39.3 million ($29.66 million) out-of-court settlement with the owners of a Chinese coal carrier that ran aground in 2010 on the Great Barrier Reef. The settlement, dismissed by an environmental group as not enough
RSC Bio Solutions, a global leader in environmentally acceptable lubricants (EALs) and cleaners, has recently launched a new education campaign aimed at informing the industry and the general public on the causes and dangerous effects of petroleum-based oil spills and leaks on both land and water
The three-month settling-in period suggested by the IMO to its Member States in which competent authorities were urged to adopt a ‘practical and pragmatic’ approach to the enforcement of the SOLAS revision stipulating all packed containers have a verified gross mass (VGM) before being
Dr. B. S. Park, Korean Register Chairman and CEO, has passed away after a short illness. Dr. Park graduated from Korea Maritime and Ocean University in 1976 and joined Pan Ocean Shipping where he worked in a number of capacities until 2001
Peter Modev, Senior Loss Prevention Executive at UK P&I Club, and the Club’s local correspondent (Pandiman Philippines) provide an update on the risks in transporting nickel ore from the Philippines. Nickel ore cargo originates principally in the Southern region of the Philippines
The members of THE Alliance announced the details of the plan for their product starting from April 2017. THE Alliance plans to deploy a fleet of more than 240 modern ships in the Asia /Europe, North Atlantic and Trans-Pacific trade lanes including the Middle East and the Arabian Gulf/Red Sea