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 Today

The Maritime Industry's original and most viewed E-News Service

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


Nakilat Damen Shipyards Qatar JV is 5

On 23 November 2015, Nakilat Damen Shipyards Qatar celebrated its first 5 years of operation. With 40 vessels delivered or under construction, the yard has proven

Wärtsilä's' Digital Services for Performance Enhancement

Wärtsilä, a global leader in complete lifecycle solutions for the marine and energy markets, launches a new service portfolio, Wärtsilä Genius services to help

Seagull's Software Tool for Benchmarking Seafarers Knowledge

Seagull Maritime has launched an advanced software tool able to benchmark seafarer knowledge levels, allowing shipowners and operators to compare their crew

P&I Clubs

North Group Increases Projected Free Reserve

Directors of the North P&I Club and Sunderland Marine Insurance Company (North Group) have revised their projection for the group’s year-end free reserve up to $380 million,

American Club Announces 2.5% Increase

At its meeting in New York on November 20, the American Club’s board resolved to levy a general premium increase of 2.5 percent for P&I cover, but no increase in

British Forces Assist Stricken Cruise Liner

Military assets deployed in support of Falkland Island government in cruise ship rescue. In support of the Falkland Island Government, British forces based in

Maritime Security Maritime Standards Pipelines Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction 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: 0.0631 sec (16 req/sec)