P&I Clubs

Spill Charge Pares BP Profit

BP takes $10.8 bln pretax charge after $18.7 bln settlement. BP's second-quarter profit slumped by nearly two thirds from a year ago as it grappled with lower crude prices and took a huge $10.

Foreign Insurers Take Cautious Look at Iran After Nuclear Deal

  Western and Middle East insurance specialists see Iran as an appealing $8 billion market in the wake of its nuclear deal with world powers, though uncertainty

Bosphorus Strait Closed after Vessel Allides with Villa

A cargo ship ran aground and smashed into a villa on Turkey's Bosphorus Strait on Tuesday, forcing maritime authorities to close the key waterway to transit traffic, shipping agency GAC said.

Concerns Remain Over the Use of Low-sulphur Fuel

As a global move toward using cleaner fuel takes place, countries are forming new or reforming old regulations which see jurisdictions increasingly demanding the

London P&I Club Holds Strong Despite Large Claims

The London P&I Club’s 2015 Annual Report highlights an unusual run of expensive claims in the 2014/15 policy year, with progress in other areas meaning that the free reserves stand at $157.

Boxship on Fire in East China Sea

The Japanese-built containership Kamala caught fire around 400km off the coast of the Japanese island of Kuchinoshima in the East China Sea.   The accident happened during a voyage from Gresik,

TT Club Urges Immediate Action on Box Weighing

Provider of insurance and related risk management services to the transport and logistics industry TT Club said it welcomes the initiative of the World Shipping

Two Dead in Petrobras Offshore Accident

Two workers died at a construction project at a Brazilian oil terminal operated by state-run Petrobras on Tuesday, adding to a string of fatal and life-threatening accidents,

Cyber Attack on U.S. Power Grid Would be Costly

A cyber attack which shuts down parts of the United States' power grid could cost as much as $1 trillion to the U.S. economy, according to a report published on Wednesday.

Parkinson Retires from Sunderland Marine

  Geoff Parkinson, chief executive officer of North P&I Club’s subsidiary Sunderland Marine, retired on 30 June 2015 following a period of ill health. Tom Rutter,

UK Club Promotes Edmonston to Director Role

Shipping protection and indemnity mutual insurer UK P&I Club has appointed Stuart Edmonston as director of loss prevention and ship inspections, following the retirement of Karl Lumbers.

Philippine Ferry Sinks, 36 Dead

A ferry carrying 189 passengers and crew capsized off the central Philippines in heavy waves on Thursday, killing at least 36 people but the majority of those on board were rescued,

Libya Warns EU Over Migrant Ops Plan

Forces from Libya's internationally recognised government have warned European countries that any vessels entering Libyan waters without permission would be targeted by air strikes.

Marine Casualty Reporting: Addressing the Coast Guard's Processes

The United States marine casualty reporting and investigation processes as administered by the U.S. Coast Guard are seriously flawed and in need of major overhaul.

American Club: Solid Progress despite Challenging Market

International P&I insurer continues positive trend into 2015   The American Club reported solid progress during 2014 at the annual meeting of its members held in New York today.

North Group Confirms Growth in Free Reserves

Directors of the 170 million GT, ‘A’ rated North P&I Club and Sunderland Marine Insurance Company (North Group), have confirmed growth in the free reserves in the year to February 20,

Call for Increased VDR Testing Awareness

The London P&I Club has called for greater familiarization by ships’ officers and crews with the testing requirements relating to Voyage Data Recorders after two

TT Club Calls for ‘Utmost Good Faith’ in the Container Supply Chain

TT Club has long championed a variety of measures designed to increase safety throughout the container supply chain.  In Rotterdam last week, Kevin King, the Club’s

UK Defense Club Reports Strengthened Financial Position

The UK Defence Club, the provider of FD&D (legal costs) insurance to the maritime industry, announced its financial results for the year ending February 20, 2015.

‘Few Incidents in Terminals are Unpreventable’

Speaking at the Trans Middle East Conference in Doha, Qatar last month, Julien Horn, TT Club’s Middle East Regional Executive and Director of TTMS (Gulf), the Network Partner based in Dubai,

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