The club was hit by a deterioration in old year claims, compounded by a higher than anticipated contribution to the P&I clubs’ collective claims pool.
There were also two notable individual casualties, the sinking of the 50,000-dwt Harita Bauxite (built 1983) with the loss of 14 lives off the Philippines, with liquefaction of a nickel ore cargo the potential cause and an oil spill involving the 1,600-gt tank barge Boston No 30 (built 1961) at Staten Island.
The
