Making the Switch: Why Choose One P&I Club Over Another?

Thinking of switching your P&I Club? You’d be in good company. Chevron recently moved part of its fleet from Britannia to the UK Club; and Lasco Shipping left Britannia, splitting its fleet between the Standard and North of England Clubs. Foresight moved some of its vessels from Steamship Mutual to the Swedish Club; and Soconav moved from BMM to Standard. Regency Cruises departed Steamship Mutual for Newcastle; but Newcastle lost the Polembros fleet to Skuld, Liverpool and London and Ocean Marine Mutual. If you’re debating whether to join the ranks of shipowners who have moved from Club to Club (or if you are purchasing new or used tonnage and are looking to join a Club), there are a few items you should consider.

Rates
Of course what is foremost in every owner’s mind is rates – how much and how often. Up until a few short years ago, P&I Insurance premiums formed a small percentage of an owner’s insurance budget. With incidents such as the Exxon Valdez, the Estonia and the Braer disasters, there has been an explosion in rates, although increases do seem to be leveling off.

This is only an excerpt of Making the Switch: Why Choose One P&I Club Over Another?

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