London Club achieves premium income targets

Friday, April 05, 2002
THE London P&I Club achieved its premium income targets during the renewal negotiations completed on February 20 this year. It now has a total fleet entry of more than 30 million gross tons, covering all categories of membership. Major new entries in the Club included fourteen bulk carriers operated by Petros Pappas' Sentinel Marine Services in Greece. Also, existing members - including the Schuldt Group, V Ships, Cosco Hong Kong, and MISC - entered additional vessels with the Club. As in previous years, the Club declined to insure a significant amount of tonnage which did not meet its stringent quality requirements. The London Club has traditionally pursued a policy of selective, quality expansion and strategic investment. For the period between February 1997 and February 2001, it enjoyed the best average investment return of all clubs in the International Group of P&I Clubs. In the latest issue of its London Club News, however, the Club notes that the well-publicised reduction in the performance of investment markets throughout the world was a major factor in all clubs seeking significant increases in premium income this year. And it warns that the financial climate "remains uncertain for the foreseeable future, and that investment returns are unlikely to reach anything like the buoyant levels that have been achieved in recent years".

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Deltamarin to Designs First LNG Handysize Bulk Carriers

Deltamarin Ltd proudly announces that it has signed a contract to design the world’s first LNG handysize bulk carriers, which will point the way towards greener shipping of commodities.

Shipping to See Further Consolidation

The CMA CGM's move to buy Singapore’s Neptune Orient Lines (NOL), could lead to one of the biggest acquisitions in the shipping container industry in years.   If it goes through,

Idling Fleet Continues to Surge

Owners are rapidly laying up containerships as the market slows. The size of the idle fleet will get bigger while rates and profits slide, says Drewry Shipping Consultants Limited.

Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0671 sec (15 req/sec)