ICS Applauds EC Closure of P&I Investigations

Press Release
Tuesday, August 07, 2012

International Chamber of Shipping (ICS) welcomes halt to European Commission (EC) probe on P&I clubs.

International Chamber of Shipping (ICS), which represents over 80% of the world merchant fleet, has welcomed the decision by the European Commission competition directorate to close its investigation into the activities of the International Group of P&I Clubs.

ICS director of legal affairs , Kiran Khosla said: "ICS has always firmly stated that the current system of mutual third party liability insurance provided by the International Group continues to serve the best interests of ship operators and their customers extremely well, alongside serving the interests of claimants and the general public.

In particular, the mutual insurance arrangements provided by the clubs enable the provision of the very high levels of insurance required under international liability conventions , under which compensation to claimants is generally paid regardless of fault and without legal wrangles ."

ICS has closely followed the European Commission's investigations of the activities of the IG, the Commission having opened formal proceedings in 2010.

The Commission had stated that it was simply conducting an investigation, and that this did not imply that there was ever any proof of infringement. The Commission had also advised that it had opened the investigation on its own initiative and that it had not received any formal complaints.


Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


New Chair for Townsville Port

The Palaszczuk Government has appointed one of Queensland’s most respected businesswomen, Renita Garard as the new Chair of the Port of Townsville. In a statement released earlier today,

New Jersey Transportation Chief to Resign

New Jersey Governor Chris Christie on Friday said his transportation commissioner Jamie Fox would step down by the end of the month to return to the private sector after only a year in the position.

Eletrobras says Compensation for Hydro Plants Could be $330 mln

Brazil's state-run utility Eletrobras said on Friday a report into six hydroelectric plants found the assets had a remaining value of 1.3 billion reais ($332

P&I Clubs

P&I Clubs Welcome Changes on Container Weighing

UK P&I Club, a shipping protection and indemnity mutual insurers, and TT Club, an  international transport, freight and logistics insurance provider, have welcomed

U.S. East Coast Threatened by Hurricane Joaquin

Hurricane Joaquin was gaining strength on Thursday as it moved toward the Bahamas, with forecasts still inconclusive on whether the storm would slam into the U.

UK P&I Club's West Africa Piracy Guidance

UK P&I Club provides practical guidance to Members in relation to piracy in West Africa. Stuart Edmonston, Head of Loss Prevention, says: “We have seen a sizable shift in pirate activity,

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Ship Electronics Ship Repair Sonar 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: 1.8521 sec (1 req/sec)