The Shipowners’ Club returned to profit last year despite tough times for many members and no decrease in the value and complexity of claims.
The protection-and-indemnity (P&I) mutual rang up a $14.7m surplus in a turnaround from the previous year’s loss of $20.9m.
The club, a major insurer of offshore support vessels, was hit by up to 30% of this fleet going into layup.
