During the course of the 2015/2016 ‘policy year’, owned tonnage grew by approximately 4m Gross Tonnage (GT). Most of this growth came from existing Members, although nine new Members entered owned tonnage. Chartered tonnage also grew – by 3.5m GT – due to increased activity by chartering Members.

Our number of ships remains more or less unchanged at 3,600, with 68 per cent of the tonnage built within the last 10 years. This compares favourably with the world fleet, 63 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 35 per cent, while crude tankers account for 16 per cent, and other types of tanker, 12 per cent.

Geographic spread remains broadly similar, too. Fleets from Asia still represent half of our entered tonnage, while those from Europe account for a quarter, a slight increase on the previous year.

At our renewal date of February 20, 2017, our overall tonnage increased by approximately 1.7m GT. This was predominately due to existing members transferring tonnage to us. At the start of the 2016/2017 ‘policy year’ our total tonnage amounted to approximately 141.4m GT. 105m GT of this was made up of owned tonnage; 35.5m GT, 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’.