Hill Dickinson Makes Several Promotions
Hill Dickinson is pleased to announce the promotion of Kamal Mukhi of its commodities team to the position of Legal Director, with effect from October 1, 2013. In addition, seven members of its marine, trade and energy team have been promoted to the position of Associate. They include: Rebecca Maddison (shipping), Francesco Tundo (shipping) and Fedra Koulle (PI Regulatory) in the London City office and Alex Teji of the London yachts team; Timon Karamanos (shipping) based in Piraeus and Richard Allingham (cargo and logistics) in our Manchester office
Keeping the Red Sea Clean
In continuing its work to keep the oceans clean, International Maritime Organization (IMO) encourages member countries to ratify and enforce the London Protocol to prohibit dumping at sea. As part of such efforts, a seminar was held in Djibouti City, Djibouti (11-13 December) on implementing the London Protocol. The workshop introduced participants from Djibouti and Somalia to the benefits of protecting the marine environment of the Red Sea from pollution of dumping of wastes and other matter at sea.
Call Performance and Claims Improvement For London Club
The London P&I Club has confirmed that, as at February 20, 2003, claims for the 2002 policy year were ten percent lower than for the 2001 policy year, and thirty per cent lower than for the 2000 policy year. Writing in the latest issue of its London Club News, the Club says the downturn in claims over recent years is “a great source of encouragement”. It adds that this positive trend, coupled with an improving fleet age profile and the Club’s proven ability in a difficult market to maintain calls in line with original estimates for many years, “bodes well for the continuing success of the London Club”. In April, the London Club Committee reaffirmed an initial supplementary call for the 2003/2004 policy year of forty per cent for the P&I class…
Newbuilding Splurge Boosts London Club
The London P&I Club says the increasing amount of new tonnage being ordered by its members, and entered with the Club for P&I and FD&D risks, is confirmation of the current healthy state of the shipping industry, as well as being good news for the Club itself. Twenty-five per cent of the vessels entered with the London Club during the last twelve months have been newbuildings. Many of these have been entered by shipowners who have not previously bought new tonnage. The newbuildings have been split equally between tankers, bulk carriers and containerships. Michael Hill, Underwriting Director of A Bilbrough & Co, Managers of the London Club, says, "Shipping markets generally are going through a boom period at the moment.
Polemis Elected to Stevens Board of Trustees
Spyros M. Polemis, an international business leader who has spent more than 45 years in the shipping industry, has been elected to serve on the Stevens Institute of Technology Board of Trustees. Mr. Polemis was named to the board during its spring meeting, May 20-21, 2009. Polemis is a Class of 1961 graduate of Stevens Institute of Technology, where he served as president of Pi Lambda Phi and belonged to the Interfraternity Council and the Yacht Club. Polemis' family has roots in shipping that date back several centuries. He is chairman and managing director of Seacrest Shipping Co.
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.
London Club Strengthens Financial Position
The London P&I Club reported that, while investment performance was adversely affected in the year to February 20, 2009, its financial position has been considerably strengthened as a result of action taken by its committee in setting additional calls in October 2008. The club’s annual report will be published in July. But a summary of results for the 2008/9 financial year reports a 13.4 per cent fall in the value of the club’s investments, equating to $39m, despite the decision…
Brexit Prompts North P&I Club to Set up Dublin Subsidiary
British ship insurer North is setting up a new European Union subsidiary in Dublin in case Britain loses access to the single market after Brexit, becoming the first of these specialised providers to announce such a move. Insurers are making contingency plans after Britain’s vote to leave the EU means they could risk losing “passporting” rights that allow UK financial services firms to trade in Europe without the need for locally regulated entities. Britain dominates the global marine insurance market and losing access to specialist Protection and Indemnity (P&I) clubs like North could weaken other parts of the country’s multi-billion pound shipping services sector.
London Club Achieves Income Targets
The London P&I Club achieved its premium income targets during the renewal negotiations completed on February 20. It now has a total fleet entry of more than 30 million gross tons, covering all categories of membership. Major new entries in the Club included fourteen bulk carriers operated by Petros Pappas' Sentinel Marine Services in Greece. additional vessels with the Club. As in previous years, the Club declined to insure a significant amount of tonnage which did not meet its stringent quality requirements. The London Club has traditionally pursued a policy of selective, quality expansion and strategic investment. For the period between February 1997 and February 2001, it enjoyed the best average investment return of all clubs in the International Group of P&I Clubs.
TT Club Welcomes London Gateway’s First Scheduled Vessel
With the arrival of MOL Caledon, DP World’s London Gateway received its first scheduled ship call last week. Specialist freight transport and cargo handling insurer, TT Club provides the liability cover for the U.K.’s newest container terminal. The sheer enormity of the operation at London Gateway is underlined by the vital statistics it will boast when it is completed – 2,700 meters of quayside, 24 gantry cranes (each weighing more than 1,800 metric tons and standing higher than the London Eye), the largest logistics park in Europe, with planning permission for individual warehouses of up to one million square feet and newly built road and rail access.
Members Boost London P&I Club Tonnage
The London P&I Club has increased its membership by almost two million gross tons over the past year. This increase reflects the entry of further tonnage with the club by existing members, and the addition of new members from China, Greece, Singapore, Turkey, and the U.K. Ian Gooch, chief executive of the club’s management team, says, “The London P&I Club heads into 2014/15 after a solid renewal and further controlled growth. The club has seen encouraging progress, including continued steady growth in its mutual membership, which now stands at 43.1m gt.
London Club achieves premium income targets
negotiations completed on February 20 this year. membership. Petros Pappas' Sentinel Marine Services in Greece. additional vessels with the Club. tonnage which did not meet its stringent quality requirements. expansion and strategic investment. the International Group of P&I Clubs. increases in premium income this year. been achieved in recent years".
London Club to Post $3.2M Bail For Prestige Captain
The London P&I Club has agreed to provide the $3.2 million bail required for release of Captain Apostolos Mangouras, master of the Prestige, from the high-security Spanish jail in which he has been incarcerated for more than two months. indeed". this occasion. considerations. personal risk to do his duty in very difficult circumstances. "The level of bail is offensive, in the context of the captain's situation. cornerstone of society. less than a third of the bail required from Capt Mangouras. this occasion. avoided in the future. Spanish coast. London Club.
Hanjin Starts Building Container Ship
Hanjin Heavy Industries, Corp-Philippines, Inc. (HHIC-PI), switched on the steel plate cutting machine that signaled the start of its production. The first steel cutting ceremony was held at the newly-built HHIC-PI shipyard at the Redondo Peninsula. The HHIC-PI constructed the shipyard complex inside the 480-hectare land area in the peninsula with a committed investment of $ 1 billion and is expected to create around 30,000 jobs. Already lined-up for production are six units of 4,300-TEU container ships to be delivered to Diorxy Maritime Corp. in Greece in 2009. The second production line will be comprised of six units of 4,300-TEU ships intended for NSC Schiffartsgeselhaft of Germany.
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.
Maritime Industry May Lack Sensitivity to Psychological Issues
THE London P&I Club has drawn attention to the continuing need for recognition and understanding of psychological disorders affecting those employed in the shipping industry. In the latest issue of its StopLoss Bulletin, the Club indicated that psychological problems are often not identified, or dealt with, as quickly, as knowledgably or as sympathetically as is the case with physical illness and injury. The Club quotes Prof Francesco Amenta, CIRM Scientific Director, who stated that issues including stress, anxiety and depression should be handled at the earliest possible opportunity. He went on to indicate that shipping is much more sensitive to technology and safety issues than it is to health problems.
London Club Confirms General Increase
The London Club has announced a general increase of 25 percent in its advance call for the 2003/04 policy year. confirmed that supplementary calls for all open underwriting years remain unchanged. correction of premium levels has been required. uncertainty, more needs to be done. also apply. ensure that the Club's financial position remained sound.
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.
Senior Shipping Lawyers Join P&I Club
Three experienced shipping lawyers have moved to the 45 million GT North of England P&I club, further confirming its status as one of the major players in the international maritime insurance industry. They include two partners from leading London maritime firms and a US shipping attorney from New York. Former Lawrence Graham partner Charles Baker (54) has joined the club's freight, demurrage and defence department as a solicitor. Baker is an experienced shipping litigator who has been a partner with a number of leading London shipping practices over the past 25 years, including Holman, Fenwick and Willan and Herbert Smith. Frank Sanford (48), formerly a partner with Richards Butler, has joined as a senior claims executive focusing primarily on cargo claims.
London Club: No Exemptions from IMSBC code
London Club says owners must not accept exemptions from IMSBC code for DRI cargoes. THE London P&I Club has urged shipowners to be alert to any attempt by shippers and other cargo interests to claim exemptions from the International Maritime Solid Bulk Cargoes (IMSBC) Code in connection with the carriage of DRI (Direct Reduced Iron) cargoes. Long-standing concerns about the carriage of DRI - involving the possibility of a chemical reaction between the cargo and water, leading…
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.
Clacy Appointed tU.K. Club's Regionalized Claims Handling in Greece
Philip Clacy has been appointed UK P&I Club Area Director for Greek members' claims handling in Piraeus. Clacy, previously Area Director in London for two of the Club's London - based claims handling groups, will be taking over from Daniel Evans, who has served as Area Director in Piraeus for the almost five years. Thomas Miller Defence Ltd, the manager of the U.K. Defense Club. "I am delighted to have been given the opportunity to work in the Piraeus office. The U.K. influential and innovative force driving Club policy and development. Clacy joined Thomas Miller in 1986 and has worked closely with eastern Mediterranean and Middle East members. director in 1995. He has a degree in nautical studies and is a master of business administration.
TT Club Strengthens Middle East Presence
Specialist freight transport insurance provider TT Club said it is reinforcing its presence in Dubai with a move which aims to support the Club’s existing claims team in the UAE and underlines the insurer’s commitment to what is a dynamic region and provides an additional service level to both Members and brokers in the Middle East. Julien Horn, having already been TT’s underwriter dedicated to the Middle East for some six years now, will relocate to Dubai on secondment to Through Transport Mutual Services (Gulf), the Club’s long established joint venture Network Partner.