ICS Welcomes EC Halt to P&I Investigations

press release
Thursday, August 02, 2012

The 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.

 

http://europa.eu/rapid/pressReleasesAction.do?reference=IP/12/873&format=HTML&aged=0&language=EN

ICS Director of Legal Affairs, Kiran Khosla remarked:

 

“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.  

 

In bilateral discussions with the Commission, ICS and the European Community Shipowners’ Associations (ECSA) have previously emphasised that the mutual insurance arrangements provided by the P&I Clubs are efficient and cost effective. 

 

“We are very pleased that the Commission officials involved now appear to understand the benefits of the current system.” said Ms Khosla.
 

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

Legal

Zamakona Yards' Commitment to Well-being

Recently employees of Zamakona Yards participated in a training course for maintaining Health, Safety and Environment (HSE). The theoretical practice focused on working at heights,

GasLog Post 4Q 2014 Results

GasLog Ltd. and its subsidiaries an international owner, operator and manager of liquefied natural gas carriers, today reported its unaudited financial results for the quarter ended December 31,

Chassis Pools for Port of Long Beach

Three companies that own the vast majority of chassis serving the San Pedro Bay ports are on track to activate a “gray chassis fleet” of truck-trailers on March 1,

Government Update

LA, Long Beach Ports Cooperation Approved

Federal regulators approve expanded working pact for Port of Long Beach and Port of Los Angeles to cooperate on congestion relief   The ports of Long Beach and

Mexico Approves 5 Shallow Water Areas in Round One Oil Tender

Mexico has approved the terms for five shallow water areas containing around 355 million barrels of oil equivalent as part of its Round One tender to open up the country's oil fields,

Dredging Project to Protect Virginia Shoreline

Outer Continental Shelf sand will protect infrastructure, restore dunes and habitat   The U.S. Bureau of Ocean Energy Management (BOEM) and Naval Air Station Oceana at Dam Neck,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Ship Electronics Ship Repair Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2606 sec (4 req/sec)