We refer to our previous advice of 14th September, concerning an incident involving the vessel CAPE MORETON, a Marshall Islands flag, 2005 built, 27,786gt Fully Cellular Containership.

We reported that fire broke out onboard CAPE MORETON while anchored at Manila International Container Terminal. The vessel is currently operating a feeder service, carrying export cargoes between Philippines and Chinese discharge ports.

The fire was finally extinguished after fire crew tackled the blaze for nine hours. The incident is believed to have been triggered by an explosion in the hold of the vessel linked to the stowage of sodium hydroxide.

GA has been declared and Albatross Average Adjusters of Cyprus are responsible for collecting GA security from cargo interests.

The salvage firm in attendance has appointed Holman Fenwick Willan Singapore as their legal representatives and have indicated their willingness to engage with us directly to negotiate the remuneration due from cargo interests.

CAPE MORETON (IMO: 9308405) is registered to an owner based in the Marshall Islands with no other vessels in the fleet.

The importance of securities 19/02/2024
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