Singapore: Another P&I Club is setting up in Singapore. Gard has applied for an insurers licence in the country and expects to open an office by the end of the first half of next year. Singapore accounts for 20% of Gard’s Asian business, the single highest country by revenue.
“Southeast Asia is a major region for the maritime industries – encompassing around 7% of the world’s shipping fleet. As the leading Club in the region, opening an office in Singapore is a logical next step in the development of our Asian strategy, and reflects our commitment to the region represented by our offices in Hong Kong and Japan,” said Svein Buvik, acting ceo of Gard. [29/11/13]