North P&I Club Reports "Solid Year"

Posted by Michelle Howard
Friday, February 21, 2014

The ‘A’ rated North P&I club said it achieved another solid year of development ending on February 20, 2014, further consolidating the club’s position as one of the largest and most financially secure members of the International Group of P&I Clubs.

Owned tonnage entered in North increased from 126 million GT at the 2013 renewal to 131 million GT yesterday, while the club’s chartered entry developed to stand at approximately 49 million GT. 

According to chairman Pratap Shirke, "Our policy of applying strict quality and financial standards to the membership continued at this renewal and I am pleased to report further satisfactory development, which will help preserve North’s financial strength. We were also delighted to welcome a number of new members to club."

Joint managing director Paul Jennings said, "Owned tonnage increased by approximately 5 million GT to 131 million GT, a four-percent rise in line with the overall increase in owned global tonnage over the last 12 months. With chartered tonnage expected to be approximately 49 million GT, we are projecting a combined entered tonnage of 180 million GT."

Joint managing director Alan Wilson concluded, "Once again it has been a difficult year for global shipping. The slow recovery from the economic downturn, depressed freight rates and liquidity pressures mean our members continue to operate in uncertain and unpredictable environments. We are extremely grateful to our members who have once again shown such strong support and confidence in our strategy of maintaining financial stability, while continuing to provide the highest levels of service in the most cost-effective manner."

Maritime Today


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

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

First Women's Expedition to the Arctic

Company "MyArctic-expeditions" organize the first women's expedition to the Arctic Ocean. The expedition will start on March 5 in the capital of the Nenets Autonomous

Topaz Responder Saves Refugee Migrants

Topaz Energy and Marine has emerged as an unlikely player in the effort to save refugee migrants risking their lives on the sea crossing from Turkey to Greece’s islands in order to reach Europe.

MHI's Entity to Oversee Material Handling Equipment, Engine and Turbocharger Businesses

Today Mitsubishi Heavy Industries, Ltd. (MHI) decided in principle to launch a new wholly owned entity to integrally oversee its current businesses in material

Finance

Sardines Boost Murmansk Port Turnover

In January 2016 turnover of the Murmansk Marine Fishing Port reached 22 thousand tons of cargo, including 15 thousand tons of fish. This is higher than last year,

COSCO Plans European Transhipment Hub

China's COSCO is forging ahead with a plan to build a European transhipment hub, reports Reuters. The state owned shipping giant is expected to make an offer for

MISC Bhd: Revenue Up

Malaysia International Shipping Corporation Berhad (MISC Berhad), a shipping arm of Petronas, has seen an increase of 12.3 percent in its net profit for the 2015

Insurance

Glencore to Lift Iranian Fuel Oil at Bandar Mahshahr

Anglo-Swiss commodity trader Glencore has chartered a ship to load Iranian fuel oil at the Iranian port of Bandar Mahshahr in a move that signals the return of

Norbulk Selects Parker Kittiwake’s Cat Fines Test Kit

Parker Kittiwake, a leading global supplier of asset control and protection technology, has today announced a significant order of its recently launched Cat Fines

Boxship Aground Near Port of Hamburg

A Chinese container ship that is one of the world's largest has run aground on the river Elbe near Germany's largest port Hamburg but shipping to the harbour continues as normal,

P&I Clubs

Glencore to Lift Iranian Fuel Oil at Bandar Mahshahr

Anglo-Swiss commodity trader Glencore has chartered a ship to load Iranian fuel oil at the Iranian port of Bandar Mahshahr in a move that signals the return of

Boxship Aground Near Port of Hamburg

A Chinese container ship that is one of the world's largest has run aground on the river Elbe near Germany's largest port Hamburg but shipping to the harbour continues as normal,

Distressed Freighter Could Ground if Salvage Fails

A stricken cargo ship drifting on its side off the French Atlantic coast will run aground in southwest France if a renewed attempt to tow it to port fails on Monday, a French maritime official said.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction
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: 0.1035 sec (10 req/sec)