Leading independent international Lloyd’s broker, Tysers, today (24.09.12) published its annual P&I Clubs Report 2012.

The Report is an invaluable document for ship owners, providing a comprehensive review of the P&I market with details and commentary on each Club and its finances.

Compiled each year by Martin Hubbard, a director of Tysers’ marine division, the 2012 Report also focuses on some particularly significant developments, including serious reinsurance issues facing the International Group for the 2013 renewal, the Group’s refusal to include war risks as standard cover and the EC’s position on antitrust investigations into the Club system.

The Report predicts a hardening market with the February 2013 P&I renewals likely to show increases. Martin Hubbard commented: “We could see rates hardening by as much as 10% but, as mentioned in the Report, the 2012/13 half year results will give us a much clearer idea of what owners will face for renewal.”

Tysers will publish a follow up report later in the year after a review of the Clubs’ claims and investment performances for the 2012/13 year to date.