Review of the Year 2011
12/05/2011
The Club now has $1.6 billion in total assets and with a free reserve ratio (asset to liability) of 159 per cent is one of the strongest clubs in the International Group. This year has seen the Club build on the success of last year and deliver a surplus after taxation of $63 million, raising the free reserves and capital to $478 million. A key feature of this year's surplus was the achievement of a combined ratio of 98 per cent, reflecting improved underwriting discipline while maintaining a prudent approach to claims reserving.
EU sanctions against Syria - May 2011
09/05/2011
COUNCIL REGULATION (EU) No 442/2011 of 9 May 2011 concerning restrictive measures in view of the situation in Syria. This regulation sets out the prohibition of supply of materials and equipment to Syria which may be used for repression of its civilian population. It also provides a list of people and other entities who it identifies as responsible for such acts of repression and thus directly subject to sanction.
The Bodily Injury News produced by our colleagues in New Jersey and San Francisco is published this week reviewing a number of recent developments and issues related to claims for bodily injury, illness and death among passengers and crews.
Two regulations pertaining to prevention and control of oil pollution regulations have been issued by the China Ministry of Transportation since the start of this year. Further bulletins from the Club have been pending the International Group review of the list of approved oil spill response organisations (OSROs) which is yet to be issued by the China Maritime Safety Administration.
Doubled wages and compensation whilst transiting the original 'High Risk Area' remain. In this new Extended Risk Zone, each seafarer will be entitled to a double wages / compensation on any day
New regulations for the control of ships' ballast
US Bodily Injury News December 2010
20/12/2010
This December issue of US Bodily Injury News covers: Round Table Seminar 2010 Practical perspectives on the litigation process, Maintenance rates, Cure obligations, Arbitration clauses, Proving medical expenses in Texas, and Emotional distress claims
The aim of this legal bulletin is to provide a general overview of the regime and its scope, and answers to the most common questions that would assist Members in understanding the relevant issues on how the Regulation will be enforced.
The Club has published its latest Legal Briefing "Comprehensive rights and protection at work" reviewing the Maritime Labour Convention (MLC) and explaining the implications for Members of its adoption into national labour laws.
The Club has published its latest Legal Briefing "
Recent incidents have highlighted the topical relevance of the Club's loss prevention advice.
EU cargo declaration
19/11/2010
The European Union Advance Cargo Declaration Regime becomes effective on January 1st 2011.
Opinions of the Lords of Appeal for Judgement in the cause - Transfield Shipping Inc (Appellants)
"The Sylvia" case [2010]
08/11/2010
Sylvia Shipping Co Limited v Progress Bulk Carriers Limited [2010] EWHC 542 (Comm): The issue was whether time-charterers could recover as damages for owners' breach of the charterparty maintenance clause the profits lost on a sub-charter fixture that was cancelled when repairs to the vessel rendered her late in presenting.The classic or orthodox test for remoteness of loss will apply in the great majority of cases. Only in unusual cases, such as The Achilleas, where the context, surrounding circumstances or general market expectations make it necessary, will an inquiry be made as to whether or not a party has assumed responsibility for losses of the kind suffered by the innocent party. In this case, the Tribunal correctly concluded that the loss was not too remote. They applied the right test of remoteness by asking whether the loss claimed was of a kind which would have been within the reasonable contemplation of the parties at the time the contract was made as not unlikely to result. Further, it was reasonable to conclude that it would be well within the reasonable contemplation of a shipowner that delay of significance in arriving or being ready to load at the designated load port might result in the loss of a sub-charter and consequent loss of profit on that fixture
Article compares mandatory migrant worker insurance to P&I insurance coverage
What are the key differences between the minimum compulsory insurance requirements provided for within Section 37-A of the AMWA/RA 10022 and the scope of P&I cover? Where can our Manning Agent obtain insurance meeting the Compulsory Insurance obligations? What is the IG's position in relation to the Certificate of Cover? Should Members sign the Certificate of Cover or authorise its issuance on their behalf? If a Member signs the Certificate of Cover or authorises its issuance on his behalf, will Club cover be prejudiced?
Seven directors were elected to the Board of the UK P&I Club at the AGM in Bermuda on October 26th.
2010 general increase
The ISM and ISPS Pocket Checklist is the fifth in a series of pocket checklists produced by Lloyd's Register in conjunction with the UK P&I Club to help compliance with international conventions. The others cover Port State Inspections, Life Saving Appliances, Marine Fire Safety and Marine Pollution Prevention.