• Ratings Agency S&P Global revises UK P&I...

    The UK P&I Club (“The UK Club”), a leading provider of P&I insurance and other services to the international shipping community, has had its rating revised from A (negative) to A-(Stable) by the rating agency S&P Global.


  • The American Club: Development Of Closed And Open...

    At its meeting held virtually from New York yesterday, your Board reviewed the American Club’s present and prospective circumstances by reference to a variety of factors. This Circular describes the issues discussed by your Board, and the decisions it reached in consequence of those discussions.


  • Costs of the Standard Club PEME scheme

    Members and/or manning agents are responsible for meeting the costs of the PEME scheme at the point of use. The costs of the enhanced PEME has been fixed by Standard Club and all approved clinics within the same country will charge the same cost.


  • The Shipowners’ Club: Renewal 2022/2023

    At the half year point, the Club reported a Combined Ratio of 100.9%, with an underwriting deficit of US$ 0.9m. Having requested a 5% policy year General Increase in February 2021 it was expected that rating levels would be sufficient to return the Club to a breakeven underwriting position. Whilst the necessary premium increases are being secured as Members renew their entries, the level of claims arising from COVID-19 has been significantly higher than had been anticipated.


  • North P&I Club appoints Michael Asherson as...

    North P&I Club has announced the appointment of Michael Asherson as Claims Director, in a return to the Club for one of shipping’s leading experts in maritime and insurance law after three years in private practice in his native South Africa.


  • UK P&I Club to partner with Thomas Miller...

    Thomas Miller Specialty, a global insurance provider across a number of sectors including Marine P&I and Offshore Marine and Energy, has announced that its three year close and collaborative partnership for fixed premium P&I with AIG will end with effect from 1st January 2022. This is a strategic move for both Thomas Miller Specialty and AIG with both parties looking forward to continuing their strong and supportive relationship in other business areas going forward.



Smooth sailing on the high seas

A shipowner seeking finance in Hong Kong has a plethora of choices including debt financing from the many international banks with a shipping portfolio, leasing or, in the case of a public company, it may choose to issue shares or bonds.


Kennedys boosts Asia-Pacific expertise with Clyde & Co marine partner hire

International law firm Kennedys has boosted its international marine insurance and shipping practice, and particularly its Korean expertise, with the appointment of disputes partner Deug Rong (“DR”) Lee from Clyde & Co. DR joins Kennedys’ international marine insurance and shipping team, which came about as a result of their merger with Waltons & Morse in November last year. He will be based in the firm’s London office.

Smooth sailing on the high seas

As one of Asia’s premier financial centre, Hong Kong offers shipowners and maritime industry service providers a wide range of key financial and insurance options, facilitating the continued development of the industry


New Maritime law fails to excite re-insurance firms

Reinsurance companies say they have little to smile about in the wake of the new marine insurance law. This is because the law, contained in Section 20 of the Insurance Act that makes it mandatory for local cargo importers to insure their goods with local insurance companies, has no provision compelling firms to re-insure marine cargo with local reinsurance companies.