World GDP has been growing at historically high levels over the last three years and is currently predicted to rise by close to 5% in 2007. In response, demand for shipping has produced record new building orders and a projected growth in the world fleet of about 5% a year for the next three years, assuming no major change in the economic climate 1 . This growth in the world fleet is most welcome but, even leaving aside the problems of supply and demand, the growth in world trade is creating a number of challenges for P&I Clubs. One example is the increase in claim costs discussed extensively in the Steamship Mutual Mid Year Review: The apparent upward trend in claims values is not surprising given the combination of an increasing world fleet, the greater volume and increased value of cargoes being shipped, rising commodity prices and escalating running costs, but these are factors over which the Club can have no influence. The other major factor underlying the rising trend in claims, namely human error, inevitably comes to the fore when there are, as now, both chronic and acute shortages of experienced officers and crews as the result of the growth in demand. This is an area in which Steamship Mutual can and does play a proactive role through its many loss prevention and training initiatives. In association with Videotel, Steamship Mutual has produced over 50 training programmes since 1994. Last year alone saw the release of the new edition of the Club’s innovative Claims Handling Guide, four additional training guides, the second edition of “Training Matters” and a new product “Sea News”. These publications are discussed in an article in this issue of Sea Venture. There are also 14 other articles from Steamship Mutual, discussing such varied subjects as arbitration in China, the new Mexican law of Navigation, liens for unpaid premiums, plus the normal summaries of recent English Court and arbitration decisions. We are also pleased to include an article by the General Counsel of Intertanko setting out the challenge to the legality of the EU Ship Source Pollution Directive currently before the European Court of Justice, as well as articles on the New ILO Consolidated Labour Convention, the amendments to the SOLAS and SAR conventions covering the treatment of persons rescued at Sea, and a discussion by Richemont Nicolas & Associes, Paris, of their experience of the prosecution in France of oil pollution fines subsequent to the Erika and Prestige incidents. Malcolm Shelmerdine 1st February 2007. Introduction “Last year alone saw the release of the new edition of the Club’s innovative Claims Handling Guide, four additional training guides, the second edition of “Training Matters” and a new product “Sea News” .” Sea Venture newsletter Issue 73Sea Venture newsletter Issue 7 Introduction ........................................3 Freedom of the City of London awarded to Nikolaus W. Schües ........4 Steamship Mutual launches New Website ..............................................4 Pilotage Incidents................................5 China - First Step towards Recognition and Enforcement of Foreign Awards ..............................6 Loss Prevention Publications ..............7 Rescue Respite for the Shipowner? ........................................8 French law - Oil Pollution Prosecutions........................................9 Recent Arbitration Awards ................9 The New ILO Consolidated Maritime Labour Convention - Charting Lab