Circulars

We have combined our Shoreline Tanker/Non-Tanker and CG-5585 applications into a single new application that can be used for all purposes.

Notice is hereby given that the 2011 Annual General Meeting of Shoreline Mutual (Bermuda) Ltd. (the "Company") will be held in the Chelston/Soncy Room, Tucker's Point Hotel, Hamilton Parish HS02 Bermuda at 1:00pm on October 6th, 2011.

A G E N D A

1. To appoint a chairman of the meeting.
2. To consider the minutes of the last meeting of Members.
3. Chairman's Report.
4. To receive the financial statements of the Company.
5. To determine the number of Directors for the ensuing year.
6. To elect Directors.
7. To consider the appointment of an auditor for the forthcoming year.
8. To confirm the acts of the Directors and Officers of the Company.

The signed official notice can be obtained here.

The proxy form can be obtained here.

Notice is hereby given that the 2010 Annual General Meeting of Shoreline Mutual (Bermuda) Ltd. (the "Company") will be held in the Taishan Room (Level 5), Island Shangri–La, Pacific Place, Supreme Court Road, Central Hong Kong at 1300 hours on Monday, October 25th 2010.

A G E N D A

1. To appoint a chairman of the meeting.
2. To consider the minutes of the last meeting of Members.
3. Chairman's Report.
4. To receive the financial statements of the Company.
5. To determine the number of Directors for the ensuing year.
6. To elect Directors.
7. To consider the appointment of an auditor for the forthcoming year.
8. To confirm the acts of the Directors and Officers of the Company.

The signed official notice can be obtained here.

The proxy form can be obtained here.

From the outset the Board of Shoreline has mandated that its Members and their Brokers receive exemplary, expeditious and a user friendly service from its Management. We are constantly looking at ways to maintain and improve the quality and responsiveness of our services in addition to making enhancements to the Shoreline product wherever we see the opportunity.

As part of this objective, you may have seen that we have recently created an interactive web site where, amongst other functions, our Members can pose anonymous questions on any shipping topic to Rear Admiral Salerno of the US Coast Guard. In addition, in keeping with our environmental responsibility commitment, Dr. Anthony Knap, a renowned oceanographer and President and Senior Research Scientist of the Bermuda Institute of Ocean Sciences, has recently joined our Board.

We are also pleased to announce that in line with our continued efforts to find ways to improve our services and streamline our management operations, Shoreline Insurance Managers Limited ("SIM") was recently formed to create greater efficiencies for our stakeholders. The staff of Shoreline will be unchanged. SIM has assumed responsibility for the management of both Shoreline and Arvak and in order to be able to operate with full independence and autonomy on their behalf and maintain Shoreline's spirit of mutuality, all the shares of SIM are owned by Shoreline and Arvak.

This streamlining of operations has been wholeheartedly encouraged and endorsed by the Boards of both facilities as they concur that this new management structure will enhance the services provided by the facilities.

SIM will continue to be based at 44 Church Street in Hamilton Bermuda. Whilst current email addresses will continue to work, please update your records as per our updated contact information.

A reminder that late payment fees are calculated as follows:

Tankers – if premiums are not received 30 days after invoicing or 90 days after the end of each respective quarter, whichever comes first.

Non Tankers – if premiums are not received prior to each respective renewal date.

I would strongly urge you to follow up with your clients to ensure our payment guidelines are strictly adhered to. Commencing with February 2009 brokerage statements, we are going to deduct any late payment fees from monthly brokerage for any outstanding late fees not settled in the prior month

With the end of 2008 now in sight and a new year looming we thought it would be a good idea to update our Members on a number of items that should be of interest.

The ship–owning community undoubtedly has a challenging year ahead on many fronts. In respect of trading to the United States effective January 15, 2009 there will also be the substantial increases in COFR limits, particularly for Single Hulls, to contend with. We are happy to report, however, that notwithstanding these substantial limit increases Shoreline Mutual will continue to deliver COFR guarantees at an affordable cost that is based solely on the combination of the risk premium and the cost of administering the program. The loyalty of our Membership continues to be the key to the success of the Shoreline organization. We believe that the fact Shoreline has always been able to reward a Member's loyalty within our pricing mechanism has enabled us to maintain our position as the cost effective COFR provider. This should also enable Shoreline to mitigate as much as possible the impact of the increased limits and costs to our loyal Members.

Shoreline's focus continues to be the COFR provider that provides the best possible service to its Members at the best possible price. Our ship-owning Members are pro-active in pollution prevention and take an active concern in ensuring the shipping community strives for clean seas and global environment.  Shoreline Management in accord with our Members' environmental concerns had a goal of a paper free office. During 2008 we have achieved our goal of a one hundred percent paperless office with the recent agreement of the National Pollutions Funds Center to accept all of our submissions electronically.  The National Pollutions Funds Center appreciates Shoreline's policy and in turn have initiated this goal by the elimination of the issuance of paper COFRs.

Last year, at the Shoreline Board of Directors Meeting in Bermuda, we had Dr. Tony Knap, eminent environmental marine scientist and President and Director, Senior Research Scientist at Bermuda Institute of Ocean Sciences give a presentation on "Global Warming" and its impact on the shipping environment. We are delighted; therefore, that Dr. Knap joined the Board of Shoreline as a Non Executive Director at the AGM on November 3^rd in London. Given his internationally recognized expertise in Ocean Sciences and "Global Warming" we believe he will be a great resource for Shoreline. Additionally he will enhance Shoreline's ability to keep its Members informed of the impact of "Global Warming" and related issues have on the shipping industry and assist Shoreline and its Members to address the challenge of preserving the environment.  On a partly related topic, as associate Members of Intertanko, Shoreline has also endorsed and support their Poseidon Challenge: zero fatalities – zero pollution – zero detentions.

Another initiative Shoreline is working towards, is being a link between our Members and the United States Coast Guard's Marine Safety, Security and Stewardship.  Some of our Members and Directors recently met with Rear Admiral Brian Salerno, Assistant Commandant of this division of the USCG who is responsible for developing and promulgating national marine safety, security and environmental protection doctrine, policy and regulations, as well as ensuring policy alignment through the Coast guard and among federal and international partners.   In addition, he heads and oversees the important work of numerous federal advisory committees, industry/stakeholder partnerships and international delegations on marine safety, security and environmental protection.  Rear Admiral Salerno was receptive to various issues raised and concurred that closer cooperation with Shipowners would be mutually beneficial.      We are liaising with him on the logistics to enable Shoreline Members to raise substantive issues and receive feedback.

We have been a sponsor of two Tradewinds Marine Risk Forums in Bermuda last year and Singapore this year.   We are again sponsoring the Forum in Athens in 2009.   In fact, we are having the first of our 2009 Board Meetings in Athens to coincide with the Forum.   This will also give us the opportunity to invite our Greek Members and Brokers to a reception to meet with Management and the Board.   We have also negotiated a discount for any Shoreline Member who attends this Forum and we will be contacting our Members directly concerning this in the New Year.

With the global economic crisis, it is important to emphasize that Shoreline Mutual has always been a company owned by its ship-owning Members for the benefit of such Members and operated without the burden of any capital to be serviced or repaid.    Shoreline Mutual is uniquely positioned to ride out the current financial storm as unlike any of our competitors, our mutual enables us to provide COFR guarantees without   concerns for return on equity, plummeting investment returns or the payment of profits to shareholders which ensure that Shoreline Mutual Members continue to sail a safe course through these stormy financial times.

All of us at Shoreline Mutual Management want to take this opportunity to thank you all for your support and to wish you a very Merry Christmas and buoyant New Year.

Would please take note of our Wire Transfer Instructions below:

Wire Transfer Instructions Correspondent Bank:
HSBC Bank USA
452 5th Avenue New York, N.Y. U.S.A.
FED ABA: 021-001-088
S.W.I.F.T. CODE: MRMD US 33

Beneficiary Bank:
Bank of Bermuda Ltd.
Hamilton, Bermuda
S.W.I.F.T. CODE: BBDA BMHM

Beneficiary Account:
Shoreline Mutual (Bermuda) Ltd.
USD Statement A/C 010-424752-511

With effect from January 1, 2007 we will be dispensing with issuing Certificates of Entry in the current form. In future, whenever you receive confirmation of entry, renewal, change or Operator or vessel name, the confirmation you receive from us with also incorporate the Certificate of Entry.