Related Party Transactions

12 Months Ended

Dec. 31, 2020

(15)	Related Party Transactions

David W. Grzebinski, President and Chief Executive Officer of the Company, is a member of the board of directors for ABS, a not-for-profit that provides global classification services to the marine, offshore and gas industries. The Company paid ABS $2,377,000 in 2020, $1,774,000 in 2019, and $1,162,000 in 2018 to perform audits and surveys of the Company’s vessels in the ordinary course of business.

In November 2020, Mr. Grzebinski became a member of the board of directors of UK Protection & Indemnity Association, a mutual marine protection and indemnity organization that provides protection and indemnity insurance for third party liabilities and expenses arising from vessel operations. The Company’s marine fleet is insured on a prorate share basis through UK P&I and Standard Mutual. During 2020, the Company paid $3,000,000 in premiums for coverage in the 2020-2021 policy period in the ordinary course of business.

In January 2019, Amy D. Husted, Vice President, General Counsel and Secretary of the Company, became a member of the board of directors of Signal Mutual Indemnity Association Ltd (“Signal”), a group self-insurance not-for-profit organization authorized by the U.S. Department of Labor as a longshore worker’s compensation insurance provider. The Company has been a member of Signal since it was established in 1986. The Company paid Signal $667,000 in 2020 and $1,391,000 in 2019 in the ordinary course of business.

The husband of Ms. Husted is a partner in the law firm of Clark Hill PLC. The Company paid the law firm $1,598,000 in 2020, $1,278,000 in 2019, and $2,019,000 in 2018 for legal services in connection with matters in the ordinary course of business.