Skuld continues growth in 2018 P&I renewals

Press release

Published: 26 February 2018

Press release - Waves (illustration)

Skuld today announces a positive outcome from renewals, with a 9.4% net increase in mutual P&I gross tonnage from 2017 to 2018, including committed tonnage for delivery throughout 2018. Following the renewals, which were completed on 20 February 2018, Skuld's mutual P&I tonnage now stands at 92 million gross tonnes (GT).

The P&I market continued to be highly competitive and pressured, leading up to the 2018 renewal. In this environment Skuld continued to develop the global business through 9.4% growth in mutual P&I business. Significant growth was also recorded in all commercial P&I business lines, including charterers, offshore and fixed premium/yachts.

Ståle Hansen, Skuld president and CEO, said: "In a very competitive market we are pleased to conclude a successful renewal in our 121st operating year, and to record another increase on our previous year's gross tonnage. It is the combined efforts from all our three business platforms, Skuld P&I, Skuld 1897 and Skuld SMA, and the co-ordinated teamwork through shared competence among all our offices and departments that enables us to guarantee the bespoke service level that Skuld stands behind. We are very pleased to offer competitive terms to our loyal membership as well as welcoming new quality members and clients to our organisation."

"Skuld's overall focus on sustainable growth through careful selection of quality tonnage contributes to a very strong and robust foundation for further growth in 2018 and beyond, and enables us to continue providing our members, clients and brokers with the service and competence they can rely on."