London Club Call Performance Confirms Financial Stability

Thursday, May 01, 2003
The London P&I Club has, for more than 10 years, continued to maintain the policy of stable supplementary and release calls. Following a meeting on April 16, the Club Committee confirmed that all calls are to be maintained in line with original estimates.

In the Protection and Indemnity Class, the supplementary and release calls for 2000/2001 and 2001/2002 remain unchanged. For 2002/2003, a supplementary call of 40 percent will be levied in July this year, as originally estimated, and will be payable in two installments on August 20, and October 20, 2003. The release call will remain at 60 percent until the supplementary call has been levied, when it will reduce to 20 percent. The initial supplementary call estimate for 2003/2004 has been confirmed at 40 percent and the release call at 60 percent, as advised to members in November last year.

Meanwhile, in the FD&D Class, the supplementary and release calls for 2000/2001 and 2001/2002 also remain unchanged. For 2002/2003, a supplementary call of 30 percent, as originally estimated, will be levied in July this year, and will be payable on August 20 and October 20, 2003. The release call rate will remain at 50 per cent until the supplementary call has been debited and will then reduce to 20 per cent. The supplementary call estimate for 2003/2004 remains at 30 percent, with the release call continuing at 50 percent, as advised to members in November last year.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Areva-Siemens Raises Claim Over Finnish Reactor Delays

The French-German consortium Areva-Siemens , the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO),

Ezra Bags $70m in Offshore Contracts

Ezra Holdings Limited, a leading contractor and provider of integrated offshore solutions to the oil and gas industry, today announced that the Group’s Subsea Services division,

WFW Advises ING Bank on $340m Loan Facility for Euronav

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Electronics Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1312 sec (8 req/sec)