Shipowners can look forward to relatively modest increases in the cost of protection-and-indemnity (P&I) cover at the February renewal but there is scope for the clubs to take an even softer line, according to the Aon broking group.
The clubs have never been in better financial shape, so there is an opportunity for them to cease being slavishly obsessed with free reserves and recognise the pressure owners are under in the current freight market.
Aon
