DGS Marine, a global P&I (protection and indemnity) management provider, and exclusive manager for the British European and Overseas (BE&O) P&I facility, has announced the expansion of its global network with the opening of a new office in the Philippines.
DGS Marine’s global network has grown to nine offices with the launch of DGS Marine Philippines, which will be based in Manila and headed up by Captain Tim Grime. The Manila office will enable DGS Marine to better serve the needs of its clients, not just in the Philippines but across the region. It will also bolster DGS Marine’s ‘on the ground’ capabilities in the Philippines, an important hub in the international shipping industry.
Commenting on the opening of the Manila office, David Skinner, BE&O P&I Group Managing Director, said: “The shipping industry is changing, with increasing pressure on ship owners to manage and control all costs within their business. The most recent round of P&I renewals saw 35% premium growth for DGS Marine in the Far East, largely driven by the growing appeal of fixed premium insurance for ship owners that require greater certainly and transparency over their insurance costs. As such, it was the natural choice to strengthen our presence in the region and expand our global network with the opening of our office in Manila.
“I have known Captain Tim Grime for 20 years and have every confidence that he and his team will build and enhance the services of the DGS Marine and the BE&O P&I Group, and, together with our Vietnam office, do an outstanding job of servicing our clients in Malaysia, Indonesia, China and the wider Far East, including Russia and Korea.”
Captain Grime, Executive Manager, DGS Marine Philippines, added: “We want to be where our clients need us and the Philippines plays a vital role in the international shipping industry, not just as the world’s leading source of seamen or as a major shipbuilding nation, but also as a base for the growing number of ship managers and owners who have offices in the country. Drawing upon our local knowledge and the wider expertise across the DGS Marine global network, we are confident that we will deliver an first class service for all of our clients with interests in the Philippines and the Far East.”
Captain Grime is a Master Mariner who rose to the rank of Chief Officer on LPG tankers during his 13-year career as a seafarer, which was spent on general cargo ships, bulk carriers, and oil and gas tankers. With a BSC (hons) degree in Maritime Studies from Liverpool University, he has also worked as a Marine Consultant and Surveyor, a Harbour Master and a 1st class Marine Pilot. He has attended vessels and maritime casualties on behalf of instructing clients in North and South America, Europe, Africa, the Middle East, India, China, Japan and the Philippines.
The opening of the Manila office follows a very successful period of P&I renewals in February 2014 for DGS Marine, which saw a 19% growth in premiums during the 2013/14 policy year. This included a 22% premium growth in the Middle East and a 35% increase in the Far East, especially in China, Indonesia, Malaysia and Vietnam. This significant growth in the fixed premium P&I market was driven by ship owners and operators looking to secure greater certainty, transparency and control over their insurance costs.