Feb 24

Club Circular 4/16 – BRITANNIA AND UK P&I CLUBS IN MERGER DISCUSSIONS

Posted by atlantic brokers

TO THE MEMBERS BRITANNIA AND UK P&I CLUBS IN MERGER DISCUSSIONS The boards of The Britannia Steam Ship Insurance Association Limited and of The United Kingdom Mutual Steam Ship Assurance Association (Europe) Limited and of The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited are in merger discussions. The Clubs are leaders…

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Feb 23

Bulletin 1084 – 02/16 – Update, Ballast Water Management Reports – USA

Posted by atlantic brokers

The US Coast Guard issued a notice reminding owners, operators, and masters that the final rule amending the ballast water management reporting and recordkeeping requirements came into effect on 22 February 2016. From that date, vessels with ballast water tanks operating exclusively on voyages within a single Captain of the Port (COTP) zone…

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Feb 22

Bulletin 1083 – 02/16 – Update, New Emission Regulations – China

Posted by atlantic brokers

Further to Bulletin 1070 and Bulletin 1078, the Association has received the attached circular from our local correspondent in China. Source of Information Huatai Insurance Agency & Consultant Service lossprevention.ukclub@thomasmiller.com   Bulletin 1083 – Huatai Circular PNI 1602

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Feb 19

Club Circular 3/16 – Iran trading – P&I cover

Posted by atlantic brokers

OUTLINE This circular provides further advice to Members regarding insurance cover arrangements following partial lifting of Iran sanctions under the JCPOA. Many sanctions on particular trades and activities have been lifted under the JCPOA, but sanctions continue to prohibit dealings with designated entities and individuals, and continue to prohibit US persons from having…

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Feb 19

Bulletin 1082 – 02/16 – Update, Panama Canal Draft Restrictions – Panama

Posted by atlantic brokers

 The Panama Canal Authority has recently warned of a possible draft restriction in Panama Canal. We attach the Panama Canal Authority Advisory to Shipping No.1-05-2016, referring to possible draft restriction which could possibly come into force as of April 2016. At present, the normal maximum allowable canal transit draft remains the same, i.e.,…

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Feb 10

Bulletin 1081 – 02/16 – Restrictions on the Movement of Vessels between Bahrain and Iran – Bahrain

Posted by atlantic brokers

Wednesday 10th February 2016   The Association has been advised that the authorities in Bahrain have issued an Administrative Order, restricting the movement of vessels between Iran and Bahrain. The Administrative Order states that due to the severance of diplomatic relations between the Kingdom of Bahrain and Iran, it is prohibited for all…

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Feb 5

Club Circular 1/16 – 2016 POLICY YEAR – Pooling arrangements for 2016

Posted by atlantic brokers

OUTLINE • Group reinsurance rates reduced for all tonnage categories • Individual Club retention to increase to $10 million • The Group Pool retention to remain at $80 million • Hydra has increased its participation on the first layer • Oil pollution cover limit set at $1 billion for the 2016 policy year…

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Feb 4

Club Circular 2/16 – SPECIAL WAR RISKS P&I EXCESS COVER AND BIO-CHEM COVER AND US TERRORISM RISK INSURANCE ACT OF 2002, AS AMENDED BY THE TERRORISM RISK INSURANCE PROGRAM REAUTHORIZATION ACT OF 2015

Posted by atlantic brokers

OUTLINE • Limit on Special War Risks P&I cover for 2016 policy year remains US$500 million. • “Bio-Chem” exclusion remains and a supplementary cover for “Bio-Chem” risks in respect of crew and legal costs limited at US$30 million continues to be available. • A portion of these covers is provided in accordance with…

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Feb 4

Bulletin 1080 – 02/16 – Zika Virus – Worldwide

Posted by atlantic brokers

Thursday 4th February 2016 The Association has produced the following Frequently Asked Questions (FAQs) relating to the recent outbreak of Zika Virus. 1. What is the Zika Virus? The Zika virus is a mosquito-borne disease, transmitted by the Aedes mosquito – the same type of mosquito that spreads dengue, chikugunya and yellow fever.…

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Feb 2

Bulletin 1079 – 02/16 – Letters of Comfort – Nigeria

Posted by atlantic brokers

Friday 2nd February 2016 The Association has been aware of ongoing issues in Nigeria where the Nigerian National Petroleum Corporation (NNPC) is requiring Terminal Operators and shipowners to sign Letters of Comfort (LOC) when loading oil or gas cargoes in Nigeria. The issues surrounding these LOCs are complicated. For instance, the requirement is…

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