Steamship Mutual P&I Club has released its 2013 Management Highlights. This includes an introduction from the Club’s Chairman, Heinrich Schoeller, and a statement from the CEO, Gary Rynsard.
Summary of Results
•Free reserves reduce by 3.25% to $286.21 million.
•Total entered tonnage rises to approximately 102.3 million GT.
•Number of claims falls but average cost increases, in particular for larger claims.
•Most expensive year on record for Pool claims.
•Combined gain on investments of $27.01 million, 3%.
The complete management highlight can be viewed online at http://www.steamshipmutual.com/Downloads/Manager-Highlights-PDFs/2013MHComplete.pdf, and the company report and accounts can be viewed at http://www.steamshipmutual.com/Downloads/Finance-PDFs/2013ReportandAccountsComplete.pdf.