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Polemis company leaves American Club as P&I providers confirm firmer pricing

Adam Polemis’ New Shipping has parted company with the American Club, making it one of the few sizeable operators to switch P&I provider ahead of this year’s renewal deadline at noon today, which has seen a slight hardening in rates

‘The reduction in rates seen over recent years has been arrested and reversed, as planned, this being an important step to address the imbalance in risk exposure/premium created by the prolonged soft market’ — London’s Ian Gooch

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