During the course of the 2017/2018 ‘policy year’, owned tonnage grew by approximately 6 million Gross Tonnage (GT). Most of this growth came from existing Members, although six new Members entered owned tonnage. Chartered tonnage also grew – by over 3 million GT – due to increased activity by chartering Members.
Our number of ships has increased to 3,200, with 70 per cent of the tonnage built within the last 10 years. This compares favourably with the world fleet, 60 per cent of which has been built in the last decade. The make up of entered ships by type hasn’t altered much over the past year, either. Bulk carriers continue to make up the majority, at 34 per cent, while crude tankers account for 17 per cent, and other types of tanker, 13 per cent.
Geographic spread remains broadly similar, too. Fleets from Asia still represent half of our entered tonnage, while those from Europe account for 30 per cent, a slight increase on the previous year.
At our renewal date of 20 February 2018, our overall tonnage increased by approximately 800,000 GT. This was predominately due to existing members transferring tonnage to us but we also had six new Members join at renewal. At the start of the 2018/2019 ‘policy year’ our total tonnage amounted to approximately 126 million GT. 107 million GT of this was made up of owned tonnage; 19m GT of chartered tonnage. We anticipate that these numbers will increase as a significant number of new commitments are due to join the Club during this ‘policy year’.