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…
Ukraine has sought guarantees from Russia and the UN that any agreement on the export of Black Sea grain would work normally if it permitted Russian ammonia to be exported across Ukrainian territory. Yuriy Vaskov, Ukraine's deputy renovation minister, told…
The United Arab Emirates is no longer taking part in operations by a US-led task force that aims to protect Gulf shipping, it said on May 31st. The UAE was responding to a Wall Street Journal report on Tuesday which…
Group Club NorthStandard has said that the first Annual Review published by NorthStandard as a consolidated business portrayed “an organization rapidly engaging with the challenges and opportunities facing P&I and already broadening its service portfolio”. For policy year 2022/23 NorthStandard’s…
