FP Marine cites costs of claims and poor returns for rising premiums
A director at broker FP Marine Risks based in Hong Kong agrees with Lloyd's broker Tysers that P&I clubs will likely raise shipowners' premiums at a rate on average of 7.5% this year, similar to last year.
Reacting to Tysers' annual report which saw increases varying between 5% and 16.5% in 2012 with 7.5% the most common, Vanessa Toucas, associate director of shipping at FP Marine Risks, said: "FP
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