London P&I Club reports busy renewal, but consolidation impacts total tonnage

London P&I Club has reported a “busy and encouraging renewal”, but said that the termination of two entries at renewal were “likely to mean some reduction in entered tonnage” for this policy year.
The Club said that it was “in good shape” after a busy renewal period. The terminations had been a result of instances of corporate consolidation and strategic management changes.
London P&I said that, overall, the club had experienced “a high level of support from members, with additional ships being entered from owners based in Germany, Greece, Hong Kong, Singapore, the UK and elsewhere”. There were entries from nine new members, including owners from China and Turkey. The club also reported growth in its fixed premium portfolio, particularly on the charterers side.
Ian Gooch, chief executive of the club’s management team, said that “organic growth, along with the addition of a range of new members, is consistent with one of the club’s key strategies, aimed at the careful spreading of our member base. While the terminations are likely to mean some reduction in entered tonnage once we’ve finalised the numbers, the bigger picture is that we’ve seen a renewal where we’ve built on progress that we made in attracting members during 2016/17, in line with our planning.”