The China Classification Society (CCS) has opened a survey office in Dubai, underlining (again) the importance of this emirate as the major maritime hub in the region.

The need for representation of this Class in the area has evolved from the increasing burden of certification and compliance on ship operators, combined with a sharp rise in the number of CCS-classed vessels calling at Gulf ports.

The new full representation of CCS was officially launched at a reception hosted by CCS in the Shangri La Hotel, Dubai, last Tuesday. It was attended by Zheng Zhi Jun, China's Ambassador to the UAE, and Yang Wei Guou, Consul General in Dubai.

The Beijing-based president of CCS, Li Kejun, was also present and he gave an upbeat assessment of the current progress and achievements of the Society that is now extending its services worldwide with 14 offices abroad, in addition to 20 offices at the major ports of China.

The Dubai office of CCS is located in the Al Sharaf Building, opposite the Bur Dubai Ramada Hotel, and Lin Ke is the general manager and senior surveyor.

CCS was founded in 1956 and has been a full member of the International Association of Classification Societies (IACS) since May 1988.

P&O Nedlloyd listing gets approval
At an extraordinary general meeting, held on March 29, P&O shareholders approved the transaction plan to make P&O Nedlloyd an independently listed company.

This follows a similar decision by the shareholders of Royal Nedlloyd NV one week earlier. P&O proxy votes cast were 384 million in favour and 600,000 against.

Under the deal, P&O is to receive approximately 215 million euros ($262 million) in cash and a 25 per cent shareholding in Royal Nedlloyd NV, which is to be renamed Royal P&O Nedlloyd NV, in exchange for its 50 per cent shareholding in P&O Nedlloyd.

It is expected that the transaction will be completed this month, pending regulatory clearances and completion of the Royal Nedlloyd NV rights issue.

Ro-ro and container operations halted at Sharjah Creek
All container and ro-ro cargo operations at Sharjah Creek have been suspended as of March 27 following a port circular on that day (No MAR/04/037).

It states that any vessels calling for container and/or ro-ro cargo operations should make the necessary arrangements to call at Sharjah Port and not Sharjah Creek.

However, general cargo operations in the Creek will be permitted to continue, provided the vessels are of 80 metres or less.

TT Club surplus increases in 2003
Protection and Indemnity (P&I) Club, TT, has posted a 14 per cent increase in its total surplus and reserves, which stood at $57.3 million for last year.

Total assets were up 18 per cent at $386.5 million compared with $326.3 million in fiscal year 2002. The insurer's net worth increased 10 per cent year-on-year from $62.8 million to $69.3 million.

The company reported that its gross premium income declined marginally to $149 million, down two per cent from $152 million, as it focused on positive underwriting results, but investment income, including foreign exchange gains, increased from $8.3 million to $17.1 million.

Chairman David Thomson said: "I am pleased to report a successful year of consolidation during 2003. Our underwriting performance has improved, we have achieved another positive investment return and our free reserves have grown."

Looking forward to the 2004-05 financial year, Paul Neagle, chief executive of the Club, forecast that business volumes would increase in line with the recovery in world trade - driven by US imports and Chinese exports - and that insurance rates would remain hard, and results positive.

Frank Kennedy is a marine consultant based in Dubai