London Club Confirms Financial Stability

Wednesday, May 01, 2002
The London P&I Club has maintained the policy of stable supplementary and release calls which has been a hallmark of its performance over the last ten years. Following its meeting in London on April 24, 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 1999/2000 and 2000/2001 are unchanged. For 2001/2002, a supplementary call of 40 percent will be levied in July this year, at which time the release call will be reduced from 60 to 20 percent. The initial supplementary call estimate for 2002/2003 has been confirmed at 40 percent and the release call at 60 per cent, as advised to members in December last year. In the FD&D Class, meanwhile, the supplementary and release calls for 1999/2000 and 2000/2001 are also unchanged. For 2001/2002, the supplementary call will be levied in July this year, at which time the release call will be reduced from 50 to 20 percent. The supplementary call estimate for 2002/2003 remains at 30 percent, with the release call continuing at 50 percent, as advised to members in December last year. The ability to maintain calls in line with original estimates, at an extremely difficult time for all P&I clubs, emphasises the continuing financial stability of the London Club.
Maritime Reporter October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Samsung Heavy Venturing Overseas

SHI is ready to invest around $950 million in the overseas shipbuilding facility by 2017, according to SHI’s Chief Financial Officer Chun Tae Heung. Tankers, bulk

Ingalls Shipbuilding Begins Fabrication for Aegis Destroyer

Huntington Ingalls Industries' (NYSE:HII) Ingalls Shipbuilding division today marked the start of fabrication for the future Aegis-guided missile destroyer Paul Ignatius (DDG 117).

Industry Professionals to Speak at ShipConstructor Conference

The speakers representing various companies at next week's SSI Americas ShipConstructor User Conference, October 7-9, 2014 in Mobile, Alabama, demonstrate SSI's

Finance

Norvestor to Become PG’s Largest Shareholder

Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS.

GasLog Closes First Option Vessels Dropdown

GasLog Ltd.  announced today the closing of the sale of two modern liquefied natural gas (“LNG”) carriers, the Methane Jane Elizabeth and Methane Rita Andrea,

Brent Holds Above $97, Eyes Worst Quarter Since 2012

Brent crude futures hovered above $97 a barrel on Tuesday, aided by firm U.S. and Chinese data, but the oil benchmark was on track for its deepest quarterly drop

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction
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: 0.1161 sec (9 req/sec)