TSAVLIRIS SALVAGE GROUP - News & Announcements
13th P&I Seminar - Piraeus Marine Club - 2014 Jan 30
Mr. George A. Tsavliris was invited as a panelist to the 13th P&I Conference that took place at the Piraeus Marine Club on the 30th of January 2014. The theme Mr Tsavliris' was asked to present was: "This House Believes Club Reserves Are too High In A period When Members Are Faced With A Depressed Freight Market."
The presentation reviewed the Clubs' reserves by presenting statistical data and raised the problem that free reserves are no longer just there for the contingencies, but cover solvency II and other regulation issues as well as enabling Clubs to maintain their high S&P rating. This in turn places pressure on the Owners, many of which have tremendous cash flow problems.
Unfortunately for Mr Tsavliris, he narrowly lost the debate although had there been a greater number of shipowning delegates the result could have quite possibly been different!
The P&I Conference takes place every year under the Chairmanship of Mr Lou Kollakis of Chartworld and attracts most of the P&I Clubs based in Piraeus, as well as personalities from the shipowning, legal and insurance sectors.