London Club continues to expand quality membership

THE London P&I Club recorded a growth of nearly two million gross tons in its book of owners’ P&I business during the 2007/8 policy year, increasing the total mutual membership to approximately 37.5 million gross tons. In addition, the Club’s portfolio of charterers’ entries - cover for which has been enhanced by the development of a flexible combined single limit facility - brought the London’s overall tonnage to nearly 40m gt. During the course of the year, the Club welcomed new members, including Dong Guan Haichang Shipping Co, Epic Shipmanagement, Free Bulkers, Global Ship Lease, Grand China Logistics Holding Co, Hellenic Star, Maritime Capital Partners, MSI Ship Management Pte, Neptune Lines, Primal Shipmanagement, Trans Asian Shipping Services Pvt, and Tristar Management. And, at the same time, a number of existing members moved further tonnage into the Club, including COSCO (HK) Shipping Co, Liquimar Tankers, and Vinashin Maritime. Bilbrough Underwriting Director, Michael Hill, says, “As well as the positive news involving the size - and quality - of the Club’s membership, it is also heartening to note the success enjoyed in terms of the meeting of its premium targets. A variety of factors, which include further evidence of an increasingly severe claims environment, have combined to provide industry-wide challenges for P&I clubs. But it is a testament to the commitment of the London’s members - and the significance which they attach to its drive for the highest long-term qualities of service and security - that the Club is able to move forward into the new P&I year against the backdrop of a very satisfactory renewal season.” About the London Club The London P&I Club, managed by A Bilbrough & Co, is a member of the International Group of P&I Clubs, pursuing a policy of selective, quality expansion and strategic investment to maintain financial strength, as well as first class service. Issued by: Chris Hewer / Merlin Corporate Communications Tel: +44(0) 1903 50 20 50 / chris@merlinco.com