Changes to the rule books of protection-and-indemnity (P&I) clubs rarely attract much notice but an amendment to the Britannia Steamship Insurance Association’s wording is producing interest verging on excitement.

The club has made an addendum to rule 39, governing the uses to which its general reserve may be put, such as payment of “claims, expenses, losses or other outgoings”.

The tantalising new wording adds “to make a distribution to members of such amount and in such manner as it [the shipowner board] thinks fit”.

The