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London P&I Club sets rate increase

November 5 - The London based P&I Club a protection and indemnity mutual, has set a general increase of 12.5 percent in annual P&I call rates for the 2013/14 policy year.

Commenting on the background to the decision, Ian Gooch, ceo of the Club's management team, says, "Claims for the current policy year show some encouraging signs, especially at the attritional level, where increased deductibles seem to be playing a part."

He observed: "Although claims in the highest band - in excess of USD1 million - are running at a moderate level, this band is volatile and has been very expensive in other, recent years.

"Overall, there remain clear signs of a strong inflationary trend, particularly in the cost of individual larger cases. The claims picture there is extremely unfavourable, both in terms of claim frequency and average claims severity."

www.londonpandi.com

Heavy Lift | News

Allseas wins decommissioning work thumbnail image

Allseas wins decommissioning work

September 20 - Allseas has been awarded a contract for the removal, transfer, load in and disposal of the Gyda platform in the Norwegian part of the North Sea.
Views: 265
Innovation overhauled thumbnail image

Innovation overhauled

September 20 - DEME’s offshore installation vessel Innovation has undergone a major refit at Damen’s Verolme shipyard in Rotterdam.
Views: 296
Sun shines with Chipolbrok thumbnail image

Sun shines with Chipolbrok

September 20 - Chipolbrok has delivered a range of heavy and oversized components using its vessel Chipolbrok Sun, including 56 wind turbine tower sections in Piteå, Sweden.
Views: 267
Demag delivers for Wiesbauer thumbnail image

Demag delivers for Wiesbauer

September 20 - Germany-based crane service provider Wiesbauer has added a Demag AC 300-6 all-terrain crane to its fleet.
Views: 212

Heavy Lift Across The World

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