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John M Lyras News

02 Jun 2016

SSA President Poulsson Elected ICS Chairman

The President of the Singapore Shipping Association (SSA) Mr Esben Poulsson has been elected as the new Chairman of the International Chamber of Shipping (ICS). Mr Poulsson was elected at the ICS Annual General Meeting in Tokyo today (2 June). He takes over from Mr Masamichi Morooka, who has stood down after four years in office. Speaking about his new role Mr Poulsson expressed his honour at being elected as the next ICS Chairman. He said: “Rather than viewing this as a personal achievement, I believe my election is more a reflection of Singapore’s stature as a respected flag state and major international maritime centre. “International engagement and outreach has been…

16 Jun 2014

ICS Meets in Cyprus

ICS Board in Cyprus

The International Chamber of Shipping (ICS) – the principal global trade association for shipowners representing over 80% of the world merchant fleet – met in Limassol, Cyprus last week for its Annual General Meeting (AGM). The meeting was hosted by the Cyprus Shipping Chamber in its 25th anniversary year, and commenced with a gala dinner hosted by the President of the Republic of Cyprus, His Excellency Nicos Anastasiades, at the Presidential Palace in Nicosia. Representatives of ICS member national shipowners’ associations…

11 Jun 2013

Poulsson Appointed ICS Vice Chairman

Esben Poulsson

Singapore Shipping Association Honorary Secretary and International Committee Chairman Esben Poulsson has been elected as a Vice Chairman of the International Chamber of Shipping (ICS). His election took place at the ICS’s recent Annual General Meeting in Oslo. He joins three other Vice Chairmen for 2013-2015: John C Lyras (Greece), Karin Orsel (Netherlands) and Gerardo Borromeo (Philippines). The SSA is an active member of the ICS and Mr. Poulsson has in the past represented the ICS at a number of industry meetings in Asia.

10 Jun 2013

ICS Meets in Oslo

The International Chamber of Shipping (ICS) held its Annual General Meeting in Oslo from June 5-7 at the Norwegian Shipowners’ Association (NSA). National shipowners’ associations from Europe, Asia and the Americas, representing all sectors and trades and over 80% of the world merchant fleet, considered pressing international issues of concern to global shipowners and operators. Matters discussed included the challenges associated with the implementation of new International Maritime Organization (IMO) environmental regulations and industry preparations for the entry into force of the International Labor Organization (ILO) Maritime Labor Convention.

06 Jul 2011

London P&I Club Reports Financial Growth

The London P&I Club consolidated its financial strength by recording an overall surplus of $3.6 million for the 2010/2011 year of account. This lifted free reserves to $145.1 million, the highest level in the club’s 145-year history. The club’s continued policy of achieving controlled growth in its membership resulted in a five percent increase, of almost 2 million gt in owned entered tonnage over the course of the year. The volume of charterers’ business also continued to grow, and these developments produced a total entry of 42.5m gt at year-end, with more ships scheduled to attach during the course of 2011. Pointing out that the 2010/2011 policy year saw an unusually high number of claims in excess of $1 million, Chairman John M.

27 Sep 2001

London Club Says Clubs Must Focus on Members' Needs

The withdrawal from the P&I market of a number of fixed premium insurers should not affect the priorities of the mutual clubs, according to John M. Lyras, Chairman of the London P&I Club. withdrawal or consolidation of so much capacity of this nature had not come as a great surprise. needs of the great majority of shipowners, particularly in view of the many services which the clubs provide. Lyras adds, however, that "the clubs will need to take care to avoid complacency by maintaining a strong focus on their members' needs". Lyras confirms that the London Club gained tonnage steadily during the 2000/2001 policy year, ending it with a successful renewal and thereby demonstrating its underlying strength and reputation. newbuildings are entered for FD&D risks.

08 May 2002

Targeting Greek Shipping's $16B Budget

Around the world, people involved with shipping are booking flights to Greece and preparing to do business at the Posidonia 2002 International Shipping Exhibition, held on the Piraeus waterfront from June 4-7, 2002. With the Greek market worth a conservative $16 billion per annum, there is plenty of incentive. The business week begins with The Posidonia Congress and a program of high level international presentations and debate, at the Megaron, Athens Concert Hall on Monday, June 3. Posidonia's attraction for exhibitors and visitors is not hard to see. Greek shipowners control the biggest fleet in the world. Their drive towards fleet renewal and regeneration is creating multi billion dollar opportunities throughout the international maritime industry.

11 Jul 2002

London Club Completes Financial Year

The London P&I Club completed its 2001/2002 financial year in a healthy position, with free reserves of more than $80m. years. The year was a difficult one for marine mutual liability underwriters. years' claims and a deterioration in the performance of investment markets. membership. lowest of any International Group club. clubs, virtually the whole of its premium is collected by year-end. more than 4m gross tons, was entered into the Club for P&I risks. 48 were newbuildings. vessels are shown to be less than ten years old. average ship size in the International Group. business was largely unchanged from the previous year at 31.5m gt. policy year, 2001/02 reverted to a more moderate level. twenty per cent less than for the previous year.

13 Sep 2004

Inspections Produce 20-year Claims Low

The London P&I Club has reported that its level of claims for the 2003/4 year of account was down by fourteen per cent on the previous year. And it says its ongoing vessel inspection programme, which sees roughly half its entered fleet inspected each year, has helped produce this marked improvement. John M Lyras, Chairman of the London Club, says, “Claims for the 2003/4 policy year are running at a lower level than at any time during the last twenty years, a fact that I believe is a reflection of the selectivity of our underwriting”. He adds that such selectivity results in part from tactical decisions based on the Club’s ship inspection programme and other means of assessing members.

14 Jul 2003

The London Club Announces Increased Free Reserves

position. Free reserves increased to USD82.7m. industry in recent years. calls and premiums due from Members at the year-end. has the lowest year-end debtors in the International Group. The Club has seen a downturn in claims for the 2002 policy year. year and 30% lower than the 2000 year. more than 4m gross tons, was entered into the Club for P&I risks. reducing the average age of all the entries to 15 years. profile. The Club's total tonnage is about 30m gross tons. placed. excess of 2m gt. which, at the year end, was over 34,000 gt. and container vessels representing nearly 93% of the tonnage. This all bodes well for the future of The London Club.