Press release 2026

The annual report presented by the Chairman of the Board of Directors Dr. Michael Silies (Wilhelmsen Ahrenkiel Ship Management GmbH & Co. KG) at the general meeting shows an increase in premium income for the fiscal year 2025 compared to the previous year of approximately EUR 35,000 to approximately 1.68 million. Nevertheless, a net loss of EUR 319,329.91 was incurred (2024: net profit of EUR 72,510.79). The result was primarily negatively impacted by an increased need for provisions due to new calculation methods. Without this effect, a profit would have been made for 2025—despite an overall increase of approximately EUR 150,000 in expenses for insurance claims and insurance operations, as well as in other expenses. The investment result (approximately EUR 200,000) was positive again, although it did not quite match the previous year’s figure (approximately EUR 260,000).

 

Pursuant to a resolution by the Board of Directors, the loss from the fiscal year 2025 was drawn from the loss reserve. The association’s reserve thus amounts to approximately EUR 5.77 million.

 

During the reporting period 2025, claims totalling EUR 13.2 million (previous year: EUR 27.9 million) were either successfully enforced or defended on behalf of the members.

 

According to the report by managing director Michael Wester, the number of member vessels has decreased slightly. Currently, 848 vessels with a total tonnage of approximately 16.1 million GT are insured with Schutzverein.

 

The number of claims currently stands at 187, which is higher than the previous year’s figure (173). It is therefore currently assumed that the number of claims for the full year will increase slightly compared to 2025. The reason for this development is that the Iran war and the de facto blockade of the Strait of Hormuz at the end of February 2026 affected the performance of many charter contracts. In light of this development, disputes arose regarding the contractual responsibilities for the resulting consequences. These disputes concerned, among other things, the time lost by ships trapped in the Persian Gulf and the question of how to handle the cargo on board these ships. For ships that were outside the Persian Gulf when the war broke out, in some cases disputes arose over which alternative ports should be considered safe for unloading their cargo. Although not all cases could be resolved promptly and without significant legal costs, this was fortunately true for the vast majority.

 

Unlike in previous years, inquiries related to regulations on the decarbonization of shipping were less prominent in the current fiscal year. The practical implementation and the clarification of contractual responsibilities appear to be proceeding largely without issue. This is due in part to the sometimes very intensive preparations made by the shipping companies affected.

 

In contrast, disputes regarding bunker fuel quality are of great significance. Contaminations are being detected with increasing frequency, making it necessary to pump the bunker fuel out of the vessel.

 

In addition, Schutzverein continues to grapple with issues related to sanctions. Current developments affect not only Russia but also other countries and trades, such as Cuba.

 

For the current fiscal year a further increase in premium income and a positive investment result are anticipated. On the other hand, higher payments for insurance claims and persistently high expenses for digitization measures are expected. A further increase in the need for provisions is not currently anticipated. Nevertheless, an overall loss is currently forecast for the fiscal year 2026.

 

A constant number of insured vessels is expected for the year 2027.

 

Schutzverein's membership premiums will increase by approximately 3% in the year 2027 and will thereafter range between EUR 650.00 and EUR 2,655.00 per year per vessel.

 

At the general meeting, Dr. Michael Silies was re-elected as a member of the board of directors.

 

Following the general meeting, the traditional annual dinner of the Schutzverein took place. During this dinner, Mr. Martin Stopford, Executive Director MarEcon Ltd. as well as former member of the management und the Board of Clarksons Research/Clarksons PLC addressed in his speech the development of the revenue situation in the shipping industry over the past 60 years and presented his view on future developments in container shipping.