UK P&I Club will not seek any General Increase for 2018
Following on from their recent meeting, the UK P&I Club’s Board has decided that for 2018 policy year: no General Increase will be sought from their Members standard deductible level will remain unchanged the release call will be set at 10% of mutual premium As per previous years, the cost of the GXL programme will be passed on to Members ...
Continue ReadingBritannia returns USD10m to Members, and announces Nil General Increase for 2018
Further to Britannia Board meeting on 17 October, the Club has announced that they will not apply any General Increase on P&I and FD&D advance call at 2018 renewal. In addition, the Club will return a further USD10m to mutual Members, based on premium for ships on risk at midnight BST 17 October 2017. The Club has already redistributed USD20 ...
Continue ReadingStandard Club advises no General Increase for 2018 and return 5% for 2017
The Standard P&I Club held their board meeting in Hong Kong last week, and have now advised that they will not seek General Increase on the P&I and FD&D Estimated Total Premiums for 2018 policy year. In addition, in view of the satisfactory financial results and the increase in the reserves, the Club will return 5% of mutual call for ...
Continue ReadingNo General Increase for London Club for 2017
The London Club will be focusing on individual Members’ record and exposure for 2017/18 renewal, and no General Increase will be set on the P&I and the FD&D entries. The release calls on both classes for 2017/18 is 15%. Any adjustment to the IG reinsurance costs programme will be applied to the Members in the usual fashion. The release calls ...
Continue ReadingUK P&I Club announces 3% return on 2015/16 and Nil General Increase for 2017 renewal
The UK P&I Club, in line with all other IG Clubs so far has announced that they will not be seeking a General Increase across their Membership, but will focus on individual performance and records. The standard deductible will be increased to from USD10,000 to USD12,000 per event from 20 February 2017. At the same time, the Club will return ...
Continue ReadingNil General Increase for West of England
Further to the Club’s Board meeting earlier this week, West of England has announced that they will not apply any General Increase on Advance Calls at 2017 renewal across their Owners P&I, Charterers’ Liability and FD&D entries for the second consecutive year. The Forecast Additional Call (due on or before 20 August 2018) is set at 35% of the Advance ...
Continue ReadingNil General Increase for SOP whilst Skuld confirms Return Premium and Steamship is considering
The Shipowners P&I Club has just opened the ‘General Increase announcement’ season by releasing their half-year financial results, which shows an increase in the Club’s free reserves to USD291.2 million as at 30 June 2016. Last year, the Club announced that they will change their financial year from 20th February to 31st December, and after reporting free reserves as at ...
Continue ReadingLatitude coordinates the First Shipping Food Drive for Feeding Hong Kong
In June, Latitude Brokers coordinated the First Shipping Food Drive for Feeding Hong Kong. Feeding Hong Kong work with food retailers, distributors and manufacturers to rescue surplus that would otherwise be discarded and re-distribute it to the people in need. But from week to week, the volumes of food donated to Feeding Hong Kong go up and down and the ...
Continue ReadingSocial Media use in a crisis
As we all know, social media in its various forms is a powerful tool of communication used in the shipping industry to raise awareness on ongoing industry issues, create action groups and, of course, for PR (we certainly use it for all three). However, as the Norwegian Hull Club (NHC) have helpfully pointed out in their below ‘alert’ – there ...
Continue ReadingIran Sanctions lifted on 16 January 2016 aka Implementation Day (updated)
Further to the Joint Comprehensive Plan of Action (“JCPOA”) agreed on 14th July 2015, the EU and the United States agreed on 16th January 2016 to partially lift the nuclear-related sanctions against Iran. Whilst operators are certainly eager to engage in commercial activities with Iran, the 2nd largest economy in the region, it is critical first to review the extend ...
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