Over 20 States in the EU have now brought the European Directive on Environmental Liability (ELD) into law. Under the ELD shipowners are strictly liable for the costs of preventative and remedial actions for the environmental damage arising from the transport of dangerous or 'polluting' goods, if such costs are outside the scope of application of a relevant liabilty convention. Differing liability and compensation regimes of the ELD and relevant international conventions are explained. The three levels of remediation required under the ELD are also explained.
This circular explains the impact of the 3rd EU Maritime Safety Package on Members whose ships enter EU waters, including: A requirement to carry P&I certificates on board which may be enforced by Port State Control. The extension of the 2002 Protocol to the Athens Convention to domestic sea-going and inland waterways voyages. The establishment of an independent authority in individual EU states to respond to ships in distress with powers to board ships and direct them to designated places of refuge.
2006 policy year closed with no further supplementary premium. No further supplementary premium estimated for the 2007 policy year. Estimated supplementary premium for 2008 maintained at 20 per cent. Increased free reserves and capital (including hybrid capital) of US$334 million
The additional premium system for tankers carrying persistent oil to or from the United States will continue for the 2009 policy year. Rates have been reduced by 10 per cent.
Overall cost of reinsurance to increase for 2009. Collective overspill reinsurance protection on behalf of each club in the Group purchased once again for the 2009 policy year. Club retention remains at US$7 million for 2009. Pooling structure to change for 2009. Oil pollution claims remain subject to a special limit under Rule 5B(ii) of US$1,000 million for owned ships. War risks P&I and US voyage surcharge premiums reported separately in Club circulars
Circular 1/09 (January 2009) Special General Meeting - Amendments to Club Rules & Bye-Laws
23/01/2009
The Resolutions for consideration at the SGM on 19th January 2009 (ref Circular 17/08) were passed.
We would like to draw your attention to the recent developments regarding the US Environmental Protection Agency (EPA) Vessel General Permit (VGP) requirements.
Club Circular 12/08: ANNUAL GENERAL MEETING
12/10/2008
A Special General Meeting will be held on the 14th January 2008 in Bermuda. The purpose of the SGM is to consider amending the Club's Rules. The papers for this meeting are enclosed.
Club certificates of entry should be carried on board the entered ships to evidence Members' insurance. Club website "Ship Finder" service at www.ukpandi.com shows the list of entered ships. It is updated daily. Access to Members' certificates of entry and the Club website should be sufficient to satisfy enquiries on ships' insurance cover.
Report of the AGM proceedings and resolutions adopted.
Supplementary premium estimates remain nil for all open years. Overall increase of 17.5 per cent in mutual premium required for 2008. 10 per cent general increase in mutual premium, plus any increase in cost of International Group reinsurance. Additional Pool surcharge of 12 per cent on 2007 premium net of fixed reinsurance costs. General increase for fixed premium rates is five per cent. Release call policy adjusted.
This circular provides details of the AGM of the Club in Bermuda on 22nd October 2007 and the arrangements for voting by proxy.
Recent Amendments to the Korean maritime law
18/07/2007
On July 3, 2007, the Korean Parliament passed the amendments to the Maritime Chapter of Korean Commercial Code ("KCC").