The Club’s financial position remains strong with free reserves of $488 million as at 20 February 2022. The Club continues to comfortably meet all its regulatory capital requirements and remains in the highest AAA band of Standard & Poor’s capital model.
The Club’s correspondent in China, Huatai Marine, provide in their latest Circular No: PNI [2022] 05 details of this summer’s fishing ban along China’s coastal areas.
On 17 March 2022 the UK Government published a General Trade Licence in part to clarify earlier amendments to the UK Russia (Sanctions) (EU Exit) Regulations (the “Regulation”). Specifically, the licence addresses the issue as to whether it is lawful under the Regulation for insurers and reinsurers domiciled or operating from the United Kingdom to provide insurance for vessels calling at Russian ports or transiting Russian territorial waters.
The UK has implemented a number of sanctions in response to Russia’s invasion of Ukraine. The applicable UK legislation is The Russia (Sanctions) (EU Exit) Regulations 2019, which has been amended by eight additional regulations (the “Amendments”).
Before joining the Club, Alex was a senior lawyer at an international shipping law firm. In addition, Alex spent two years, on secondment, at a leading Lloyd’s of London and Lloyd’s Asia syndicate – primarily dealing with people, hull and machinery and cargo claims. Alex has been in Singapore since 2016.
On 20-22 April 2022 Sea Japan made a welcome return and we were delighted to participate for the very first time and show our support to one of the biggest maritime tradeshows in Japan.
Costas joined Thomas Miller (Hellas) Ltd. in 2015 after having completed his BA in Business Administration. Costas has completed a Certificate in Shipping at the Institute of Chartered Shipbrokers and is a holder of the International Group of P&I Clubs’ Certificate. He primarily handles people related claims.
The Court of Appeal has held that in the absence of clear words to the contrary, the holders of bills of lading will not be excluded from their liability to contribute to general average, where the peril suffered is already insured by the shipowner.
