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Shipowners’ Club Reports Encouraging Half Year Growth and Announces No General Increase in Premiums

The Shipowners’ Club has published its first half-yearly financial report and has advised Members that no general increase will be imposed for the next policy year, 2011/12. Strong underwriting performance coupled with a small investment return result in a US$23.9M overall surplus, increasing free reserves to US$159.2million.

Shipowners’, the mutual P&I Club which specialises in providing liability insurance to smaller and more specialised vessels, has for the first time made public results of its half-year performance. At the same time the Club has also confirmed that no general increase will be applied to Members’ premiums at the 20th February 2011 renewal.

Commenting on the recent Board decision, Charles Hume, CEO stated, “We have applied general increases during recent renewals but in view of our encouraging first half results and the challenging operating environment still being experienced by many of our Members, we are pleased to announce now that no general premium increase will be applied for the 2011 policy year. That said, underwriters will be looking closely at the claims record and premiums paid by each Member and also assessing closely the risks associated with every vessel type. It is through this sort of prudent underwriting that the financial stability of the Club will be maintained.”

The results in question are indeed encouraging with the unaudited figures for the six-month period showing gross earned income of US$ 96.3M, which represents a 14% increase in debited income over the same period last year. In keeping with the experience of other P&I insurers, Shipowners reports a reduction in the number and value of claims despite the total number of vessels entered with the Club being reasonably constant at around 28,000 since 2007.

With claims reduced and income increasing, the six-month underwriting performance is predictably strong. In this regard, Shipowners reports an anticipated technical account surplus of US$21.1M, producing a combined ratio of 75.4%.

ENDS

Notes for Editors:

A pdf of the Half Year Report 2010/11 is available for download at www.shipownersclub.com

The Shipowners’ Club is a mutual marine liability insurer, providing Protection & Indemnity insurance to small vessels since 1855. The Club currently covers over 28,000 vessels from 6,322 Members worldwide and is a member of the International Group of P&I Clubs.

The Club has regional offices located in Luxembourg, London, Singapore and Vancouver.

Download the Shipowners 2010-11 half year report

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IAPH launches Environmental Ship Index

The organization representing global ports, backed by six major European ports introduces a scheme aimed at significant reductions in vessel emissions

Starting in January 2011, under the auspices of the International Association of Ports and Harbors (IAPH), the World Ports Climate Initiative (WPCI) will introduce the Environmental Ship Index (ESI), an international standard for calculating emissions by ships. Ports and other nautical service providers will be able to use the index to reward clean ships, and so contribute to encouraging sustainability in the shipping industry.

Participation by ship-owners is voluntary. They can calculate the emissions of their vessels on the newly constructed website www.environmentalshipindex.org. Participating vessels will receive a certificate that may form the basis of a reward system employed by ports and other nautical service providers, discounting port dues, rates and alike.

The ESI identifies seagoing vessels that perform better in reducing emissions than required by the current emission standards set by the International Maritime Organisation (IMO), which are based on the amount of nitrogen oxide (NOx) and sulphur oxide (SOx) that is released by the ship. In addition, the ESI tests for the presence of a management plan for the greenhouse gas emissions of the ship. The ESI is therefore a good indication of the environmental performance of the ship, and will identify clean ships in a general way. Modern sea-going vessels with clean engines that use low-sulphur bunker oil in ports score high on the ESI.

Over the past two years, the ports of Le Havre, Bremen, Hamburg, Antwerp, Rotterdam and Amsterdam have worked together closely to develop the ESI. The programme is entirely voluntary and the ports through the WPCI hope that the global port community will adopt ESI as a universal means of improving their own environmental performance and as an instrument for reaching their sustainability goals. Five initiators – Hamburg, Bremen, Amsterdam, Rotterdam and Antwerp – have indicated that they will use the ESI to reward clean ships and to promote sustainability.

The hope is that the ESI will grow to be an instrument for positively distinguishing clean shipping. It should become a driver for sustainability and innovation, but also for the ‘greening’ of port dues and the logistic chain.

Notes for Editors:

World Ports Climate Initiative (WPCI)

55 of the world’s key ports have committed themselves to reducing their greenhouse gas emissions while continuing their role as transportation and economic hubs. This initiative is called the World Ports Climate Initiative. www.wpci.nl

International Association of Ports and Harbors (IAPH)

The key objective of the IAPH is to develop and foster good relations and cooperation among all ports and harbours in the world by acting as a forum for exchanging ideas and sharing experiences on the latest trends in port management and operation. The IAPH strives to emphasize and promote the fact that ports form a vital link in waterborne transportation and fulfill this important role in today’s global economy while promoting clean ports and clean shipping.

www.iaphworldports.org

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Dachser “From education to sustainability”

Dachser and terre des hommes start second phase of aid project

Even more education, plus measures to preserve the environment and natural resources: Five years after Dachser began its aid project in the Indian state of Uttar Pradesh, the first phase of the project has drawn to a close. Countless children and young people have successfully completed the training course conceived by Dachser and terre des hommes. Now it is a question of consolidating the results for the long term.

The logistics provider and the children’s relief organization are now embarking on the second phase of the project, based on moving “from education to sustainability”. One component will be promoting an awareness of the local environment. The project will be extended to include a programme on mitigating climate change. The primary objective is to continue to provide further education and training for children in Uttar Pradesh: The project partners will set up schools, training centres and libraries. At the same time a contribution will be made to preventing climate change by promoting socially responsible forestry, using renewable sources of energy and building biogas plants.

The second phase will not only follow on seamlessly from the first but will also build on it: Between July 2005 and September 2010 the internationally operating logistics provider Dachser donated a total of EUR 500,000 to the international children’s relief organization terre des hommes. This has enabled the aid project to guarantee regular schooling for numerous children, provide educational materials and sanitary facilities for 25 schools and construct two training centres where 1,500 girls and boys have been prepared for working life. The second phase of the project begins in October 2010. It will run for five years, over which time Dachser will contribute a total of EUR 400,000.

Self-initiative and personal responsibility are key to survival

The aim of the aid project is to encourage people to develop and strengthen their self-initiative. George Chira, project coordinator of terre des hommes in South Asia explains: “We wish to support the villagers in their efforts to stand up for their rights and also take responsibility for the future of their children.” Respecting nature, a subject close to the heart of the spokesman for the Dachser management, Bernhard Simon, goes hand in hand with this. “As a family-owned company we are conscious that we have both social and environmental responsibilities,” he says.

In 2009 Dachser generated total revenue of EUR 3.2 billion. 17,500 staff working in 306 profit centres worldwide handled 41.8 million consignments weighing a total of 29.4 million tonnes.

terre des hommes means “earth of humanity” and is an international, development policy-based, children’s relief organization, with around 400 projects in 29 countries. Its work focuses on helping children who have no alternative means of support.

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