Skuld announces 11% growth in 2017 P&I renewals

Press release

Published: 27 February 2017

Skuld today announces a positive outcome from renewals, with an 11% increase in mutual P&I gross tonnage year-on-year from 2016 to 2017, net of de-selections and lost business. Following the renewals, which were completed on 20 February, Skuld's mutual P&I tonnage now stands at 88.5 million gross tonnes (GT).

In a very competitive market, Skuld continued to grow its global offshore business and also saw growth on blue water contracts in the Nordics, Europe and Asia through the attraction of new mutual business.

Ståle Hansen, Skuld president and CEO, said: "In a very competitive market we are very pleased to conclude a successful renewal and record another increase on our previous year's gross tonnage. We remain convinced this is due to our service commitment as well as our objective of sustainable growth. We note with pride that our loyal members do not only renew their policies with Skuld but also bring new quality tonnage into the club. With the high quality of our existing members and with some carefully selected new quality entries we have a robust foundation for the future when celebrating our 120th anniversary in 2017.