Uk Club News

Western ship insurers are terminating cover for Russia's leading shipping company Sovcomflot as multiple sanctions start to bite, companies involved say, adding to the growing challenges for the state-owned company and Moscow's efforts to export oil and gas.Russia's maritime sector is seeing the wind down of multiple services, including ship certification by leading foreign providers - vital for accessing ports and securing insurance - shipping companies pulling out and ship engine…

The speed of a container ship that blocked the Suez Canal in March was controlled by the Egyptian waterway’s operator before it ran aground, the vessel’s insurer said on Thursday.The statement from UK Club came after the head of the Suez Canal Authority (SCA) said the ship was sailing too fast when it became grounded, but that the canal bore no responsibility.The Ever Given, one of the world’s largest container ships, is still being held in the canal while both sides continue compensation talks.

UK Club, an insurer of the container ship that blocked the Suez Canal in March, said on Monday a reduced compensation claim made by the Egyptian authorities for almost $600 million to free the vessel and cover related losses was still "exceptionally large".The Suez Canal Authority (SCA) adjusted its claim from an initial $916 million in an effort to settle out of court, SCA head Osama Rabie told private TV network MBC Masr on Saturday.The Ever Given, one of the world's largest container ships…

An Egyptian court on Tuesday ruled that the containership which blocked the Suez Canal in March could continue to be held in the waterway, rejecting an appeal by its Japanese owner against its detention, a judicial source said.The Ever Given, one of the world's largest container ships, got jammed across the canal on March 23 and remained stuck for six days, stopping traffic in both directions.It has been held in a lake between two stretches of the canal since being dislodged on March 29…

UK P&I Club, an insurer of the Ever Given cargo ship which ran aground in the Suez Canal in March, said on Friday it had filed an appeal in an Egyptian court over the detention of the vessel by authorities.The Ever Given has been anchored in a lake between two sections of the canal since being dislodged on March 29 and is caught in a legal dispute linked to a $916 compensation claim made by the SCA against the ship's Japanese owner.UK Club, the Ever Given's protection & indemnity (P&I) insurer, said the move was necessary as it had not been possible to resolve the issue without continued invol

Evergreen Line said on Wednesday that it is investigating the scope of an Egyptian court order to detain the Ever Given container ship which got stuck in the Suez Canal last month.The Suez Canal Authority (SCA) has made a $916 million compensation claim against the ship’s Japanese owner Shoei Kisen, according to UK Club, one of its insurers.The SCA has also obtained a court order to detain the ship as discussions over compensation continue.

The cargo vessel that blocked global shipping in the Suez Canal and is caught in a legal dispute in Egypt is fit to sail once approval is given, its technical manager said on Wednesday.The Ever Given was declared suitable for onward passage from the Great Bitter Lake to Port Said, where she would be assessed again before departing for Rotterdam, Bernhard Schulte Shipmanagement (BSM) said in a statement.The ship has been in the lake, which sits between two sections of the canal, since being dislodged on March 29.

A ship that blocked the Suez Canal for almost a week in March has not been given clearance to leave the waterway as discussions continue over a compensation claim made to the vessel’s owner Shoei Kisen, an official from the Japanese company said on Tuesday.The Ever Given has been in a lake separating two sections of the canal since it was dislodged on March 29, as the Suez Canal Authority (SCA) conducts investigations.Yumi Shinohara, deputy manager with owner Shoei Kisen’s fleet management department, confirmed the canal had made a compensation claim but gave no further details.A source with the Suez Canal Authority, who declined to be named…

Reinsurers are set to foot most of the bill for the grounding of the ship that halted traffic in the Suez Canal, industry sources said, with payouts expected to run into hundreds of millions of dollars.International supply chains were thrown into disarray when the 400 meter Ever Given ran aground in the canal on March 23, with specialist rescue teams taking almost a week to free the vessel.Around 400 vessels were affected by the canal’s closure, which led to some having to divert around Africa to get supplies to global markets.Ships typically have protection & indemnity (P&I) insurance…

British ship insurer UK P&I Club has received approval from the Dutch regulator for a new subsidiary in Rotterdam to ensure continued access to trade in the European Union in case Britain loses single market access, it said on Tuesday.UK Club is the second specialist Protection and Indemnity (P&I) club to announce regulatory approval for Brexit trading arrangements in the EU. Rival club North said in January it got the green light for its Dublin subsidiary from Ireland's central bank.P&I clubs - mutually owned by their members which are shipping companies - have been an integral part of the City of London for nearly two centuries, insuring ocean going ships against pollution and injury claims…

The UK P&I Club, a leading provider of P&I insurance and other services to the international shipping community, emerges from the renewal to start the new policy year with total mutual owned tonnage of 139 million gt, slightly higher than at the start of the previous policy year. Combined mutual-owned and chartered tonnage now stands at around 239 million gross tonnes. The UK Club understands that many operators are under financial pressure. The Club therefore continues to seek ways of delivering P&I cover at a competitive rate and did not announce a general increase again this year. However, safeguarding the Club’s future financial stability through disciplined underwriting remains a priority. Of those fleets leaving the Club at this renewal, almost all had adverse loss records.

The UK P&I Club said it has agreed at its board meeting on November 19 to a mutual premium discount of 3 percent on the total mutual call for the 2015 policy year. In the current shipping environment, the board has decided it is prudent to revise the club’s approach to the general increase. For the 2017 renewal, the club will not be seeking a standardized general increase. Instead, premium will reflect the specific risk a member brings to the club for the coming year. With the overall club underwriting results largely in balance, the 2017 policy year renewal will focus closely on individual member’s underwriting performance, while still being mindful of the difficult shipping markets in which many members operate.

The International Group of P&I Clubs and the shipping line members of the Cargo Incident Notification System (CINS) have recently produced a new set of guidelines for the carriage of calcium hypochlorite in containers. UK Club risk assessor, David Nichol, discusses why it was considered necessary to update guidance for a cargo with a history of being implicated in ship fires as well as the wider problem of the mis-declaration of dangerous goods. If a fire breaks out at sea, the crew do not have the option of simply evacuating the building and waiting for the fire brigade to turn up. The crew have to deal with it themselves. Locating…

London, 11 May 2016 – The UK P&I Club (“The UK Club”), one of the leading shipping protection and indemnity mutual insurers, announces its financial results for the year ended 20 February 2016. Alan Olivier, Chairman of the UK P&I Club, comments, “2015 has proved to be another good year for the Club culminating with a very positive renewal. On the financial side, we ended the year with a small surplus despite a loss from our investment portfolio. This positive result in a poor year for the investment markets can be attributed to our disciplined approach to underwriting. “The combined ratio for the financial year was 92%; a very creditable result in the prevailing soft market conditions.

The UK P&I Club, a provider of protection and indemnity insurance,  agreed at its board meeting Monday that the General Increase for the 2016 renewal will be 2.5 percent. In announcing the increase, the UK Club board said it is mindful of the continuing stress in certain sectors of the shipping market and has therefore set the General Increase for 2016 below the level of claims inflation, adding the General Increase reflects the club’s commitment to maintain balanced underwriting and put the club in the best position to meet the challenges of the future. Separately, in recognizing the challenges faced by its members and the club’s capital position, the board has declared a Mutual Premium Discount of 2.5 percent on the total mutual call for the 2014 policy year.

UK P&I Club provides practical guidance to Members in relation to piracy in West Africa. Stuart Edmonston, Head of Loss Prevention, says: “We have seen a sizable shift in pirate activity, from Somali to West Africa, and are witnessing an increase in incidents particularly offshore Nigeria. The ship should be operating at a heightened state of security throughout, including additional watch-keeping, roving patrols and fire hoses rigged at the railings; outside doors of the accommodation…

The UK Club informs that Jan Kohzer has been selected as this year’s Robin Travis Scholar. From 1st September 2014, Jan will spend three months based in Thomas Miller’s London office. The Robin Travis scholarship is a flexible programme tailored to provide a breadth of knowledge and understanding and build on the Scholar’s current commercial experience. Jan currently works in the Claims Department of Oldendorff Carriers, a German shipowner based in Luebeck, where he manages insurance claims, whilst furthering his study of marine insurance and operations. His role at Oldendorff Carriers together with his participation in the 2012 Insight Course provided by Thomas Miller has led to Jan seizing the opportunity to gain a more indepth understanding of P&I insurance matters.

The UK P&I Club has issued a 'Legal Briefing' to share its legal expertise and experience on the stricter air pollution regulations that are on the horizon. By 18th June 2014 all European Union member states are expected to implement directive 2012/33/EU, which brings European national air pollution laws in line with MARPOL Annex VI. EU regulations have recently been brought in line with MARPOL Annex VI to ensure coherence with international law. However EU member states are also being encouraged to introduce more stringent measures to speed up implementation of lower sulphur limits for marine fuels. The first step towards reducing SOx emissions by ocean-going ships was taken in 1999 through the EU Directive 99/32/EU.

'Garnishment' is the legal term relating to the collection of a monetary judgement on behalf of a claimant from a defendant. In the Philippines, this routinely occurs before the case has concluded and is central to the UK P&I Club Members' many concerns relating to crew claims in this jurisdiction. The International Group Personal Injury Sub-Committee's - Philippine Working Group (on which the UK P&I Club's Tony Nicholson sits), has been monitoring the prejudice caused to owners & employers for a number of years, in addition to seeking to educate all interested stakeholders about the need for an equitable solution, to this continuing problem.

Leading P&I club, the UK Club informs it has received the full report from Standard and Poor (“S&P”) explaining its reasons for upgrading the Club's financial rating. The report explains that, in assessing the Club’s business and financial risk profiles across a set of criteria, S&P have determined an anchor rating of “A”. This is based upon the “extremely strong capital adequacy” and “improved operating performance” of the Club. This anchor rating translates, without adjustment, to an overall financial strength rating of A (stable). The restored rating is recognition of the financial progress made by the Club both in strengthening its capital and also in operating consistently at technical breakeven over a period.

The US Pollution Risks publication, recently published for its members by the UK P&I Club, compiles summaries of all the Federal and state requirements on liability, COFR requirements and vessel contingency plan requirements. Legal Briefings provide an overview of certain laws and regulations. The UK Club points out that while every effort has been made to ensure accuracy, the publication is only a guide and not a substitute for formal legal advice. The Oil Pollution Act of 1990 established rigorous regulatory and liability controls to protect and clean up the marine environment from oil spills, including extensive provision to prevent the circumstances under which oil spills occur.

The UK P&I Club board has agreed at its meeting on October 27, 2014 that the general increase for the 2015 renewal will be 6.5%. The premium rating increase is in addition to any change in the cost of the international group reinsurance premium for 2015 for the mutual members, which will be determined next January. In setting the general increase, the UK Club board said it is mindful of the balance between the needs of the club’s members and its commitment to maintaining balanced underwriting and sound financial planning. The 2013 year has proved to be one of the most expensive claims years of the last two decades, the club said. Alan Olivier…

The UK P&I Club informs that its Pre-Employment Medical Examination Programme, claimed to be the world’s leading scheme for assessing the fitness of prospective seafarers, has just completed its 300,000th examination. For the past 18 years, the PEME Programme has provided crew with a first rate health check before going to sea while protecting ship owners from claims arising from medical conditions existing prior to employment. It is the leading loss prevention initiative managed by the UK P&I Club----and the most extensive and comprehensive programme of its kind.