Shipowners seem likely to be faced with a modest increase in their contributions to the International Group of P&I Clubs excess of loss reinsurance scheme at the upcoming renewal next February.

Owners were hit by an average 33% hike in rates in the most recent renewal, after the International Group made a number of claims on its two-year reinsurance policy following a series of major casualties.

However, so far this year there has only been one International Group pool claim, and zero claims on its current one-year reinsurance policy.