Hellenic shipowners will henceforth have to make sure the share of their vessels flying European flags does not decline. For every vessel that Greek shipowners put under one of the usual international registries based in the tropics, they will soon…
Standard & Poor's (S&P) has affirmed its 'A' rating on Skuld. The Club’s outlook is stable. For further info, please see the relevant press release here https://www.skuld.com/about/-/press-releases/2023/sp-affirms-skulds-a-rating-with-stable-outlook/
New boss Thomas Nordberg turns to digitalisation to make its business more resilient. Thomas Nordberg is hosting his first annual general meeting as managing director of the Swedish Club after six months in charge, in which he has already made…
After a couple of years of depressing results caused by higher-than-acceptable claims levels, Japan Club on June 14th reported that for the 2022 business year it had achieved a net premium income increase of ¥13.50bn in 2021 to ¥30.31bn in…
Nigeria’s recent puzzling actions in terms of detentions and back-tax notifications have had what might have been seen as a predictable effect. Shipowners are staying away. The cost of shipping oil from Nigeria has increased dramatically to its highest for…
Tanker owners operating in or near Nigeria have not been having a happy time of things recently, and another potential problem has arisen via newly-assessed back taxes, reported Intertanko. Bloomberg cited at least two tanker owners as having received requests…
Britannia Club reports a strong 20 February 2023 renewal with significant growth in owned tonnage. Indeed, the Club’s underwriting result has improved, as the combined ratio has dropped to 106.6% from 116.4% the year before. That being said, the Club…
Steamship Mutual has released its combined financial statement, reporting a 5% tonnage growth during the 2022/23 policy year and a combined ratio of 95.4%. Premium exceeded budget expectations and 2022/23 claims were significantly lower than what experienced in recent years…
The Swedish Club 151st Annual General Meeting (AGM) kicked off, in more ways than one, as more than 200 members and guests prepared to join for two days of networking, knowledge-sharing, and recreation. Early arrivals gathered to watch the eagerly…
Shipping losses fell to a record low in 2022, according to the just published Safety & Shipping Review 2023 from Allianz Global Corporate & Specialty (AGCS). However, it warned that an increase in the number of fires, a growth in…
