Marine P&I Commercial Review 2017 - Fixed Premium Markets
We are pleased to publish the 2017 annual P&I Commercial Review.
Last year the sentiment in the market was very much a “We are at War!” reaction, however, twelve months later the commercial P&I market carries on into 2017 without anycasualties to report and everyone appears to be sitting tight in the trenches. If we can compare the commercial P&I market scenario to “trench warfare” then we don’t expect to see too much change over the next twelve months either.
Not exciting you might say? Well when looking at the data reported by the fixed markets covered in this report, we were surprised to see what appears to be a +1% upward spike in the average rate per GT. What happened? Is the market changing? Is this the beginning of the hard market cycle maybe? Or is this just a figment of our imagination?
Download the Marine PI Commercial Market Review 2017.pdf