A return to more stable conditions in the shipping industry has seen a significant decline in the number of new cases referred to Nordisk Skibsrederforening.
The Oslo-based freight, demurrage and defence (FD&D) insurance mutual opened 1,914 new cases in 2017, a more than 11% drop on the previous year and the lowest figure for five years.
Nordisk’s shipowner directors, led by chairman Hans Peter Jebsen of the Kristian Gerhard Jebsen group, say the appetite for engaging in legal battles has abated, reflecting more stable, but still weak, shipping markets.
