At the start of the 2022/23 Policy Year, Britannia’s owned tonnage totalled approximately 134.5m gt , a marked increase on last year’s total of 125.2m gt.
The growth consisted of 4.5m gt coming on risk during the course of the 2021/22 policy year and a further 4.8m gt added at the 20 February 2022 renewal. The majority of the owned growth came from existing Members.
6 new Members joined the Association during the 2021/2022 policy year. In addition, four new Members joined at Renewal on 20 February 2022. A significant number of ships were transferred by existing Members from other clubs into Britannia at Renewal and a further 3.4m gt has been committed by current members to join during 2022/23.
European fleets (excluding Scandinavia) make up 34.5% of the Association’s owned tonnage with Scandinavia at 13.0%. Our Asian membership now comprises 45.6%, with entries from Japan (16.1%), Taiwan (6.7%) and South Korea (12.4%).
The split of entered ships by type remains broadly unchanged. Bulk carriers continue to make up the majority at 35 per cent, while containers account for 24 per cent, crude tankers 18 per cent, and other types of tanker, 17 per cent.
Britannia’s chartered entry grew by 20.0 m gt during 2021/22 policy year as a result of a significant chartered entry from one new member and now stands at 73.5m gt.