Without P&I, world trade would cease. It is that important, providing a unique protection and support network for shipowners, operators and the broader maritime ecosystem.
It’s been a challenging year for the P&I industry. Growing economic pressures, environmental concerns, regulatory changes and geopolitical tensions have all had an impact. And the Baltimore Bridge collapse has the potential to be the largest P&I claim in history.
As ever, the mutual market has adapted quickly, navigating volatile conditions in global markets successfully without deviating from its long-charted course, to guide its members with a steady hand. This stability has proven essential to maintaining the confidence of shipowners and operators, helping them continue to flourish in an uncertain world.
Change is the only constant in the maritime industry but by staying true to our values as a reliable, unflinching partner, we will continue to safeguard the interests of our clients and support the global maritime industry, whatever challenges appear on the horizon.