A tale of two fleets and the vast discrepancy in premiums paid by new and old vessels was highlighted at the Piraeus Marine Club’s 14th annual protection-and-indemnity (&I) seminar.
Clas Ryden, the head of Skuld’s Greek operation, argued that general increases exacerbate the problem as he explained why the Norwegian club had abandoned across-the-board rate rises.
A modern fleet of four 30,000-gross-ton (gt) bulkers might pay a gross premium of $260,000 but a similar, 1990-built quartet might pay $560,000.
