North P&I and Standard Club Plan to Merge
North P&I and Standard Club revealed they have entered formal discussions for a proposed merger to create a new global marine insurer and one of the largest providers of mutual cover in the maritime industries. The combined mutual insurer would provide cover for vessels equivalent to 400 million GT.The formal announcement follows the approval of the proposal by both clubs' boards and notification to principal regulatory authorities of their intention to merge. A joint North and Standard Club working group has been appointed to evaluate how a combined entity would maximize value for members.
Standard Club Upgrades Data and Insight Capabilities
Mutual P&I insurer The Standard Club said it has enhanced its data and insight capabilities as part of a two-year upgrade program."We have looked hard at how we can use technology and data to better serve our members, with a particular focus on supporting risk selection and pricing, and on delivering new member services," said Dipo Oyewole, the Standard Club’s Performance and Strategy Director.The data upgrade program has enabled the club to improve its modeling of risk through application of advanced modeling techniques and new data sources, it said.
INTERTANKO's Council Meets in London
Discussion at INTERTANKO's Council and Executive Committee meetings in London last week emphasized the depth work by the association and its members since the last Council meeting in April. This has reached from lobbying to both industry and politicians, to discussions and negotiations at IMO; from work in the EU and US to Asia; from environmental issues to industry relationships and chemical issues; and also an increasing range of member services. INTERTANKO has actively engaged in matters arising from the Prestige accident - specifically the accelerated phase-out of single-hull tankers, restriction on the carriage of heavy oils to double-hull tankers, expansion of the Condition Assessment Scheme (CAS).
IBIA Strengthens Management
The International Bunker Industry Association (IBIA) has strengthened its management team and is to improve services to members with the appointment of two full time staff members. Ian Adams has been appointed as Secretary General and Ruth Croker has been appointed as Administrator. Adams is an ex-seagoing engineer, who has worked in global engineering sales with major component suppliers to the shipping industry. "I welcome the challenge of building up the member services of IBIA," says Adams. Croker has a background in recruitment, training and consultancy and will work with Adams from IBIA's Baltic Exchange office.
