A better-than-expected financial result has been delivered by the International Group of protection-and-indemnity (P&I) clubs.<\/p>\n
The 13 member clubs made a collective surplus of just over $124m against expectations a few months ago that there might be a near to break-even result. Eight clubs rang up a collective profit of $148m with the three best performers -Gard, the Shipowners’ Club and Skuld – accounting for over 80% of this. As can be seen in the table, there were five clubs in the red, producing a total loss of $23.6m.
So overall the 13 member clubs of the International Group made a net surplus of $124.3m, although this has to be qualified by a Gard return of premium. Despite notable casualties on both the P&I and hull side, Gard’s surplus of $51m was sufficiently good for it to declare a $15m “dividend” to the shipowner members of its P&I club who are the owners of the business. So if this discount is included, the overall profit of the group clubs falls to $109m.<\/p>\n
Although this profit is a fraction of the near $700m rung up by the group clubs through the previous year, this was an exceptional outcome boosted by strong investment returns. The Standard & Poor’s rating agency predicted a collective result of plus or minus $25m around the break-even point in February. Although the investment results of the clubs are quite variable, the performance has been better than expected. The continuing spate of newbuilding deliveries also appears not to be eroding club income as much as might be expected.<\/p>\n
The International Group clubs have a no-undercutting-at-renewal agreement that limits price competition on existing ships but there is a free market when it comes to bidding for new ships and as a result they pay significantly lower premiums.<\/p>\n
The American Club, the last of the clubs to report, incurred a loss of $3.4m through calendar year 2011 mainly through an unrealised writedown on its investment portfolio, so like the Swedish Club it suffered in comparison to the remaining clubs that have 20 February accounting. The New York-based mutual has more than overcome the loss with a profit of $6m through the first three months of the year to lift its free reserve to $66.2m. The American Club made a small operating profit but there was an unrealised investment loss of $5.8m that pushed the club into the red. The club-backed fixed-premium facility, Eagle Ocean Marine, has got off to a good start, according to chief executive Joe Hughes.<\/p>\n
BY JIM MULRENAN LONDON
29 June 2012<\/p>\n
<\/p>\n
\u4fdd\u8d54\u534f\u4f1a\u8d22\u52a1\u4e1a\u7ee9\u80dc\u9884\u671f<\/strong><\/span><\/p>\n \u56fd\u9645\u4fdd\u8d54\u96c6\u56e2\u534f\u4f1a\u516c\u5e03\u7684\u8d22\u52a1\u7ed3\u679c\u597d\u4e8e\u9884\u671f<\/p>\n \u4fdd\u8d54\u534f\u4f1a\u96c6\u56e213\u5bb6\u4f1a\u5458\u534f\u4f1a\u7684\u96c6\u4f53\u76c8\u4f59\u8d85\u8fc71.24\u4ebf\u7f8e\u5143\uff0c\u4e0e\u51e0\u4e2a\u6708\u524d\u7684\u9884\u671f\u76f8\u53cd\uff0c\u63a5\u8fd1\u6536\u652f\u5e73\u8861\u30028\u5bb6\u534f\u4f1a\u7684\u96c6\u4f53\u76c8\u4f59\u8fbe\u52301.48\u4ebf\u7f8e\u5143\uff0c\u5176\u4e2d\u8868\u73b0\u6700\u597d\u7684\u4e09\u5bb6\u4e3aGard, the Shipowners’ Club\u548cSkuld\uff0c\u5360\u603b\u76c8\u4f5980%\u4ee5\u4e0a\u3002\u4ece\u8868\u683c\u4e2d\u53ef\u4ee5\u770b\u5230\uff0c\u67095\u5bb6\u534f\u4f1a\u4e8f\u635f\uff0c\u603b\u8ba1\u635f\u59312360\u4e07\u7f8e\u5143\u3002 \u8fd9\u4e2a\u9884\u671f\u5916\u7684\u7ed3\u679c\u5f97\u76ca\u4e8e\u5f3a\u52b2\u6295\u8d44\u56de\u62a5\uff0c\u5c3d\u7ba1\u8fd9\u4e00\u76c8\u4f59\u6570\u503c\u53ea\u5360\u96c6\u56e2\u534f\u4f1a\u524d\u4e00\u5e74\u8fd17\u4ebf\u7f8e\u5143\u6536\u5165\u7684\u4e00\u5c0f\u90e8\u5206\u30022\u6708\uff0c\u6807\u51c6\u666e\u5c14\u8bc4\u7ea7\u673a\u6784\u9884\u6d4b\uff0c\u4fdd\u8d54\u534f\u4f1a\u96c6\u56e2\u7684\u96c6\u4f53\uff08\u8d22\u52a1\uff09\u7ed3\u679c\u4f4d\u4e8e\u76c8\u4e8f\u5e73\u8861\u70b9\u4e0a\u4e0b2500\u4e07\u7f8e\u5143\u3002\u5c3d\u7ba1\u534f\u4f1a\u6295\u8d44\u6548\u76ca\u76f8\u5f53\u591a\u53d8\uff0c\u4f46\u4e1a\u7ee9\u597d\u4e8e\u9884\u671f\u3002\u8fde\u7eed\u7684\u65b0\u9020\u8239\u4ea4\u8239\uff0c\u5e76\u6ca1\u6709\u5982\u9884\u671f\u90a3\u6837\u5bf9\u534f\u4f1a\u6536\u5165\u4ea7\u751f\u91cd\u5927\u5f71\u54cd\u3002<\/p>\n \u56fd\u9645\u4fdd\u8d54\u96c6\u56e2\u534f\u4f1a\u6709\u5173\u7eed\u4fdd\u4e0d\u964d\u4f4e\u4fdd\u8d39\u7684\u534f\u8bae\uff08no-undercutting-at-renewal agreement\uff09\uff0c\u9650\u5236\u73b0\u6709\u8239\u8236\u7684\u4fdd\u8d39\u7ade\u4e89\uff0c\u4f46\u5bf9\u4e8e\u65b0\u8239\u6765\u8bf4\uff0c\u5374\u662f\u4e00\u4e2a\u81ea\u7531\u5e02\u573a\uff0c\u5bfc\u81f4\u65b0\u8239\u4ee5\u76f8\u5f53\u4f4e\u7684\u4fdd\u8d39\u6295\u4fdd\u3002<\/p>\n \u7f8e\u56fd\u4fdd\u8d54\u534f\u4f1a\u662f\u63d0\u4ea4\u62a5\u544a\u6700\u665a\u7684\u4e00\u5bb6\u3002\u534f\u4f1a2011\u5e74\u635f\u5931340\u4e07\u7f8e\u5143\uff0c\u4e3b\u8981\u539f\u56e0\u662f\u672a\u53d8\u73b0\u6295\u8d44\u7ec4\u5408\u3002\u4e0e\u5176\u4ed6\u4ee52\u670820\u65e5\u4f5c\u4e3a\u8d22\u52a1\u7ed3\u70b9\u7684\u534f\u4f1a\u76f8\u6bd4\uff0c\u7f8e\u56fd\u4f1a\u4e0eSwedish\u534f\u4f1a\u90fd\u53d7\u5230\u8d22\u52a1\u7ed3\u7b97\u65e5\u671f\u7684\u5f71\u54cd\u3002\u4eca\u5e74\u524d3\u4e2a\u6708\uff0c\u603b\u90e8\u4f4d\u4e8e\u7ebd\u7ea6\u7684\u7f8e\u56fd\u4f1a\u4ee5600\u4e07\u7f8e\u5143\u5229\u6da6\u7684\u4e1a\u7ee9\uff0c\u5c06\u534f\u4f1a\u81ea\u7531\u50a8\u5907\u91d1\u63d0\u9ad8\u52306620\u4e07\u7f8e\u5143\u3002\u7f8e\u56fd\u4f1a\u6709\u5c0f\u5e45\u7684\u4fdd\u8d39\u76c8\u5229\uff0c\u4f46580\u4e07\u7f8e\u5143\u7684\u672a\u53d8\u73b0\u6295\u8d44\uff0c\u5bfc\u81f4\u534f\u4f1a\u8d22\u52a1\u4e3a\u4e8f\u635f\u72b6\u6001\u3002Eagle Ocean Marine, \u662f\u4e00\u5bb6\u7531\u7f8e\u56fd\u4f1a\u652f\u6301\u7684\u56fa\u5b9a\u8d39\u7387\u4fdd\u9669\u673a\u6784\uff0c\u636e\u5176\u9996\u5e2d\u6267\u884c\u5b98Joe Hughes\u900f\u9732\uff0c\u8be5\u673a\u6784\u5df2\u83b7\u5f97\u4e86\u5f00\u95e8\u7ea2\u3002<\/p>\n JIM MULRENAN \u4f26\u6566 A better-than-expected financial result has been delivered by the International Group of protection-and-indemnity (P&I) clubs. The 13 member clubs made a collective surplus of just over $124m against expectations a few months ago that there might be a near to break-even result. Eight clubs rang up a collective profit of $148m with the three best […]<\/p>","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[125],"class_list":["post-10389","post","type-post","status-publish","format-standard","hentry","category-circulars","tag-english"],"_links":{"self":[{"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/posts\/10389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/comments?post=10389"}],"version-history":[{"count":1,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/posts\/10389\/revisions"}],"predecessor-version":[{"id":20261,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/posts\/10389\/revisions\/20261"}],"wp:attachment":[{"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/media?parent=10389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/categories?post=10389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/tags?post=10389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\u5982\u679c\u4e0d\u8ba1\u7b97Gard\u534f\u4f1a\u9000\u56de\u7ed9\u4f1a\u5458\u7684\u4fdd\u8d39\uff0c13\u5bb6\u56fd\u9645\u4fdd\u8d54\u96c6\u56e2\u534f\u4f1a\u603b\u76c8\u4f59\u4e3a1.243\u4ebf\u7f8e\u5143\u3002Gard\u534f\u4f1a\uff0c\u5c3d\u7ba1\u4fdd\u8d54\u9669\u548c\u8239\u58f3\u9669\u4e0b\u90fd\u6709\u91cd\u5927\u4e8b\u6545\uff0c\u4ecd\u7136\u53d6\u5f975100\u4e07\u7f8e\u5143\u7684\u76c8\u4f59\u3002\u534f\u4f1a\u5411\u5176\u8239\u4e1c\u4f1a\u5458\u6d3e\u53d1\u4e861500\u4e07\u7684”\u7ea2\u5229” \u3002\u5982\u679c\u5c06\u8fd9\u4e00\u6570\u636e\u8ba1\u7b97\u5728\u5185\uff0c\u4fdd\u8d54\u534f\u4f1a\u96c6\u56e2\u603b\u76c8\u4f59\u964d\u81f31.09\u4ebf\u7f8e\u5143\u3002<\/p>\n
2012\u5e746\u670829\u65e5<\/p>\n
<\/strong><\/span><\/p>","protected":false},"excerpt":{"rendered":"