Knud Pontoppidan News

TT Club has announced its financial results for the year ended December 31, 2015, and AM Best affirms its A- (Excellent) rating for the 10th consecutive year. Knud Pontoppidan, Chairman of TT Club, said, “After very good years in 2013 and 2014, 2015 was what most might be described as a ‘normal year’. Incidents such as Tianjin and a number of cargo-related fires meant the Club experienced a higher number of large claims above $1million than in 2013 and 2014. “Despite the increase in large claims, and the soft rating conditions, the Club continues to be in good shape,” Pontoppidan said. “The Board and I are pleased with our very high retention levels in 2015 at 93 percent and the feedback we receive from Members and brokers on our service levels.

In a major shareholder announcement Nordic Shipholding A/S informs that Nordic Maritime S.à r.l. As a consequence of the restructuring, Nordic Maritime and the Company’s lending banks have converted debt for a total amount of approximately USD 72.1 million into new shares and Nordic Maritime has contributed an additional USD 2 million in cash for new shares in the Company. As announced earlier by Nordic Shipholding, board members Erik Bartnes, Mogens Buschard and Saravana Sivasankaran would resign their position as board members upon completion of the restructuring. Consequently, the board of directors now consists of Knud Pontoppidan (chairman), Kristian V. Mørch, Anil Gorthy, Jon Lewis and Philip Clausius.

A meeting between Danish shipping giant AP Moller-Maersk and ITF-affiliated trade unions representing its workers in 22 countries closed in Copenhagen after what the ITF described as "the first steps in a journey that we hope will benefit both the company and its workers". Representatives from 32 unions attended the two-day conference, which was hosted by Danish union 3F from April 23 to 24. Knud Pontoppidan, Senior Vice President of AP Moller-Maersk, addressed the meeting April 24 and then attended the closing press conference.

BIMCO’s President Knud Pontoppidan and U.S. Coast Guard Rear Admiral Craig Bone signed a new partnership agreement at U.S. Coast Guard Headquarters in September 7. The agreement is aimed at enhancing the communication and working relationship between the Coast Guard and the shipping industry. The establishment of the partnership coincides with the development of BIMCO’s guide for seafarers on US Port State Control inspections. Developed in cooperation with the Coast Guard, the guide is aimed at raising awareness amongst seafarers regarding measures implemented on board ships to ensure compliance with MARPOL and SOLAS requirements. The agreement signed represents an expansion of a previous agreement signed in 1998.