American Club Circular No. 2 1/15 1 APRIL 10, 2015 CIRCULAR NO. 21/15 TO MEMBERS OF THE ASSOCIATION Dear Member: THE AMERICAN CLUB: A PROFILE – APRIL 2015 Your Managers are pleased to attach an updated profile of the American Club. It is intended to provide a comprehensive picture of the Club’s business in a brief and accessible form. As will be seen, it also intended to answer the question – why choose the American Club? It is hoped that the contents of the document provide a compelling answer! They include, in the foreword, a summary of the key areas of service provision which comprise the singular advantages of being a Member of the American Club. Hard copies of this document will also be available soon. As the Club draws closer to the celebration of its centennial, it is hoped that this profile – which also contains a statement of its mission – will help to define the Club’s important place in the industry and to expand its footprint in the market over the months and years ahead. If Members, brokers or any of the Club’s other friends require hard copies, the Managers will be very pleased to supply them. Yours faithfully, Joseph E.M. Hughes, Chairman & CEO Shipowners Claims Bureau, Inc., Managers for THE AMERICAN CLUB A PROFILE BUILDING ON THE PAST, WELCOMING THE FUTURE THE AMERICAN CLUB FOREWORD Why choose the American Club? This is a profile of the American Club - an overview of who we are and what we do. It is intended to provide a comprehensive picture of the Club’s business in a brief and accessible form. It also seeks to answer the question - why choose the American Club? There are very good reasons to do so! The American Club occupies a special place in the P&I world and offers a special welcome to shipowners and charterers of all kinds from every part of the globe. The values which energize the Club’s dedication to its Members are contained in its mission statement toward the end of this profile. They are authentic commitments motivating every aspect of Club activity. Reinforced by those commitments, the Club offers many advantages of membership, some of which are set out below. • The Club is of a size enabling it to handle the largest of fleets, but also to provide genuinely personal service • The Club’s participation in the International Group provides impeccable security to its Members, enabling it to pay the very largest claims to the same extent, and with the same reliability, as any other Group club • The Club’s free reserves per ton are strong, and compare very well with industry norms. It is also a top performer by reference to other financial metrics, including its excellent investment results • The Club offers an unsurpassed global service reach with local capabilities highly attuned to membership needs • The Club is not given to favoritism among its Members: all Members are important • Club Managers are easily accessible at every level and take pride in their reputation for an attentive and energetic approach to Member needs and expectations • For operators domiciled in the US, or those from overseas who trade to the US, the American Club enjoys a unique home advantage • The Club pursues exceptional transparency in its dealings with Members, reflecting a tradition of strong corporate governance and exacting regulatory oversight • The Club welcomes Members from the broadest spectrum of the shipping industry. It is not dominated by, or restricted to, any particular industry sector or interests • Eagle Ocean Marine, t