As clubs compete to retain tonnage, their service offering is an important differentiator, says A.M.Best
Safety & Regulation
With two major vessel losses in the past year, capacity from the hull sector has left the market, but for London, the growth of Asian underwriting centres is having an effect.
The deal comes just days before the traditional P&I renewal date of 20 February and London market brokers have said they have seen an increase in interest in fixed-premium P&I from owners who have seen their fleets contract.
With few major losses, many clubs have been looking to maintain current pricing and hand back excess profits from 2017 in the run-up to the annual 20 February renewals.
After months of discussions with the authorities in New Caledonia, the vessel’s owner Lomar has said that the agreement for how the wreck will be removed has been reached.
Insurance broker Marsh has warned shipownerss that non-compliance with sulphur rules will bring costs and delays.
As the new breed of mega vessels comes online, marine insurers call for enhanced risk management and regulations to ensure ship safety.
Established in 2016, the Dubai-headquartered Emirates Maritime Arbitration Centre is pinning its hopes on hearing its first arbitration in 2019
Reducing safety risk, enforcement issues, and China’s planned Polar Silk Road were highlighted during online discussion.
Delegates at the IMO are keen that the sulphur cap regulation is applied to all operators equally so no one can gain a competitive advantage. The Pollution Prevention and Response subcommittee has set up working groups that will define how the sulphur cap will achieve this equality of application and report to the MEPC in April.