October 31 - The UK P&I Club, one of the oldest shipping protection and indemnity insurance mutuals, has announced a general 7.5 percent increase on 2013 renewal premiums.

The UK P&I Club has separately declared a mutual premium discount of 2.5 percent on the total mutual call for the 2011 policy year.

Dino Caroussis, chairman of the UK P&I Club said: "Shipowners are facing extremely challenging conditions. We are therefore pleased, given our strong capital position, to be able to reduce the premium on 2011 which was a good year for the Club."