London Underwriters to Host Hull Market Seminar

Wednesday, May 29, 2002
Underwriters from the hull insurance market in London will hold a seminar in Greece later this year to debate issues of current interest to shipowners and insurers. In recent years, Lloyd's Underwriters Association has hosted a reception at the Piraeus Yacht Club during the week of the Posidonia exhibition and congress. This year, however, Lloyd's Market Association and the International Underwriting Association of London (IUA), under the auspices of the London Joint Hull Committee, have instead combined to host the seminar, which will take place either in October or November. This departure from custom reflects a feeling by London hull underwriters that a dedicated seminar is a more effective and worthwhile deployment of resources at what is a very difficult time for the international marine industries. It also underlines the strong spirit of co-operation and unity which exists between the Lloyd's and company hull underwriting markets in London. There will still be a strong London insurance market presence in Athens and Piraeus during Posidonia week. The IUA has a stand in the exhibition hall in the Maritime London pavilion, and a number of London underwriters will also be attending the biennial event. Simon Beale, chairman of the Joint Hull Committee in London, explains, "The decision to forgo the traditional LUA reception this year was not taken lightly. The London market is committed to the Greek shipping industry, but in these difficult times for both underwriters and their clients it is felt inappropriate to hold a social function during the week of Posidonia. However, holding a seminar for the Greek shipping community later in the year reflects a desire to underline that commitment in what is considered to be a more appropriate and effective way."

Contracts

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

Finance

California: A Strong Shipbuilding State

Fifth in the nation for direct employment, California shipbuilding and repair industry supports nearly 35,000 jobs; Maritime Administrator highlights economic importance

Advent Hires Banks to Sell Control of Brazil Port

Buyout firm Advent International Corp has hired Morgan Stanley & Co and Grupo BTG Pactual SA to advise on the sale of a controlling stake in TCP Terminal de Contêineres de Paranaguá SA,

SUNY Maritime Among 'Best Bang for the Buck' Colleges

SUNY Maritime College has been named one of the best colleges for its price by Washington Monthly.   SUNY Maritime placed in the top 30 schools in the Northeast.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Simulators Winch
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: 0.0678 sec (15 req/sec)