Group Excess Reinsurance Rates 2012/2013

Please find below the overview of the Group Excess Reinsurance Rates 2012/2013. We are pleased to note the Estimated Total Cost (ETC) rates show reductions in all four categories this year. This is the third consecutive year of reductions in all categories with the exception of Dry Cargo. Clean Tankers will receive the largest percentage reduction (8.41%).

Those Clubs still charging an Advance Call will apply a proportion of the new rates to their Advance Call Rate, according to the level of their estimated Deferred Call.

2011/12 ETC Rate
($USD)

2012/13 ETC Rate
($USD)

Reduction

Reduction in ETC Rate
($USD)

Tanker Dirty 0.7038 0.6515 7.43% -0.0523
Tanker Clean 0.3055 0.2798 8.41% -0.0257
Dry 0.3709 0.3561 3.99% -0.0148
Passenger 1.478 1.3992 5.33% -0.0788

2012 Oil Pollution Surcharge US Voyages

For 2012, rates have been reduced by 30%. This results in the following US Voyage Surcharges for 2012:

2011/2012 Additional Fixed Premium 2012/13 Additional Fixed Premium
Vessels With SBT 0.0566 0.0396
Vessels Without SBT 0.068 0.0476

Laid Up Rates

Cents / GT ETC
Tankers 14.20 (15.39)
Non-tankers 14.84 (15.27
Passenger 42.12 (44.37)
(Figures in parentheses are 2011 allocation)