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.
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.
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
The withdrawal from the P&I market of a number of fixed premium insurers should not affect the priorities of the mutual clubs, according to John M. Lyras, Chairman of the London P&I Club. Writing in the latest issue of London Club News, Lyras says that, whilst he had welcomed healthy competition from the fixed premium market, the withdrawal or consolidation of so much capacity of this nature had not come as a great surprise.
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
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.
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
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
Ship owners, operators and their P&I clubs face ever-increasing claims over the next few years, according to the 45 million GT North of England P&I club. Growth in the freight market, a raft of new and revised liability conventions and weakness of the dollar are exposing the industry to greater financial risk and continuing hikes in P&I insurance. According to joint managing director Rodney Eccleston, “Both the value and number of cargo claims have soared in recent months due to
The American P&I Club is reorganizing its underwriting and business development functions into a regionalized structure comprising the Americas, EMEA (Europe, Middle East, Africa), South and Southeast Asia, and Greater China and North Asia.
In a speech to be given at the TOC Container Supply Chain: Middle East Conference on December 9, Andrew Kemp, Regional Director EMEA of the freight transport insurance specialist TT Club will warn of the additional liability that freight forwarders and other logistics operators are open to as a
International Maritime Solid Bulk Cargos (IMSBC) Code pocket checklist will be available at Marintec 2013 next week. Lloyd’s Register, UK P&I Club, and Intercargo produced a pocket guide and checklist earlier this year for ships’ officers and agents who arrange cargos for loading
The risk of collision at sea is a hazard to which all shipowners and seafarers are exposed, regardless of ship type or trading area. The International Regulations for Preventing Collisions at Sea (COLREGS) provide a complete code that, if properly understood and applied
Charterers face significant liabilities, even where shipowners have their own P&I covers, reminds the UK P&I Club and should be properly insured. Liabilities to shipowners, cargo owners and third parties may be contractual (e.g. breach of charter-party) or non-contractual (e.g
The International Propeller Club honors Captain Goben in recognition for his service to the maritime industry Captain Richard Goben, Port Captain of Hornblower Cruises & Events in San Diego, received an international maritime award at the 87th Annual Convention and Maritime Industry
The London P&I Club says that a recent analysis of collision cases has highlighted the effect complacency has on casualties. The club recently undertook a ‘root cause’ analysis of collision cases, which concluded that the majority could be categorised as human error
The first group of candidates has successfully completed the full Protection and Indemnity Qualification (P&IQ). The examination program was launched in 2010 by the International Group of P&I Clubs (IG) to support education in P&I insurance
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.
Freight transport insurance specialist TT Club said it is continuing its efforts to reduce risk in the supply chain. Through constant analysis of the claims it receives, the international insurer has pinpointed an array of operational circumstances that more commonly cause dangerous incidents
The London P&I Club says that a recent analysis of collision cases has highlighted the effect which complacency on the bridge of the vessel can have on the incidence of casualties. The club recently undertook a ‘root cause’ analysis of collision cases which concluded that the
LOC Group Ltd (incorporating London Offshore Consultants) – a leading global marine engineering consultancy – has secured a minority external investment from Bridgepoint Development Capital (BDC). Financial details of the investment were not disclosed.
Despite a continued upward trend in the cost of claims and additional reinsurance costs, The Shipowners’ Club, P&I insurance provider to the smaller and specialist vessel sector, is to raise premiums by just 5% for the 2014/15 renewal.
GLOVIS, a Korean company and a newcomer as a shipping line, was at first expert in global automotive logistics. As a result of a tonnage agreement with Hoegh Autoliners, the latter market this shipping service on the Middle East trade with one vessel per month and GLOVIS manages the operations
Alan Olivier was elected Chairman and President of the UK P&I Club at their board meeting in Bermuda on October 28. He succeeds Dino Caroussis who has retired from the board. Mr. Olivier, 53, Chief Executive Officer of Grindrod Limited