Claims of more than $10m enter into the International Group of Protection & Indemnity Clubs’ shared pool claims and reinsurance system.
At the time of writing, some 16 P&I claims had been notified to the International Group but that is expected to grow closer to 20 by the time the 2018 policy year closes later this month.
In 2017, notified pool claims were estimated at $227m but a late flurry of casualties in 2018 and the start of this year is raising concern of a higher figure for International Group claims in the 2018 policy year.
Maersk Honam
A massive cargo fire in March 2018 destroyed the forward section of the ship and is expected to result in shipping’s largest-ever general average claim.
The vessel is currently being rebuilt in South Korea.
The cargo claim is likely to be more than $150m, with the P&I club claim edging towards $100m. The 15,000-teu Maersk Honam (built 2017) had P&I cover with the Standard Club.
Bow Jubail
The 37,499-dwt Bow Jubail (built 1996) spilled a reported 217 tonnes of heavy fuel oil after colliding with a jetty in Rotterdam, Netherlands, on 23 June 2018 and is set to be one of the International Group’s biggest pool claims.
Damages were estimated at around $34m. The ship is listed as owned by Saudi Arabia’s National Chemical Carriers Ltd (NCC) and insured by Norway’s Gard.
SSL Kolkata
The 1,118-teu boxship grounded off the Sundarbans, off West Bengal in India, in July 2018 after a massive fire and has been declared a constructive total loss.
A Lloyd’s Open Form contract with Smit is already running up the salvage bill and a costly wreck removal is pending. The SSL Kolkata (built 2006) has cover with North P&I Club.
APL Los Angeles
The 4,250-teu APL Los Angeles (built 2008) grounded off the port of Fuzhou, China, in September 2018, with the owner declaring general average.
The refloating operation and bunker bill is set to bring an estimated claim of around $29m.
The ship has P&I cover with the London P&I Club.
KNM Helge Ingstad and Sola TS
The Norwegian Navy frigate KNM Helge Ingstad and 113,000-dwt Tsakos Energy Navigation tanker Sola TS (built 2017) collided off the Norwegian coast in November 2018. Although the tanker suffered little damage, the frigate sank and is expected to be a total constructive loss. The hull of the Helge Ingstad alone is valued at around $500m. However, indications are that the liability may rest with the frigate. The Sola TS has P&I cover with Britannia P&I.
Sincerity Ace
The 6,400-ceu car carrier Sincerity Ace (built 2009) caught fire off the Hawaiian island of Oahu last month, destroying a cargo of 3,500 new Nissan cars and claiming the lives of five seafarers. Some financial liability for the cargo loss could rest with the P&I club if the owner is found responsible for the fire. The Sincerity Ace is covered by Standard Club.
Yantian Express
The Hapag-Lloyd-controlled, 7,500-teu Yantian Express (built 2002) caught fire off the coast of Canada last month. No damage assessment has been made available. The ship is covered by Britannia P&I.
Star Centurion and Antea
The 147-metre anchored pipelayer Star Centurion (built 2002) was struck on its port side by Pertamina’s 40,000-dwt product tanker Antea (built 2002) and partially sank last month.
The vessel is expected to be a constructive total loss.
The hull cover for the Star Centurion is estimated at $175m and is placed with Gard. Gard also provides P&I cover for the Antea. In the case of a collision, P&I pays out around a quarter of hull loss claims.
