Further to our last report, we have now received information that the vessel has suffered extensive damage and the shipowners have declared general average (GA) as a result of this casualty.

GA securities consisting of a GA Guarantee and a GA Bond will now need to be provided by the cargo insurer and cargo owner respectively, before the cargo may be released by the carrier.

We are in contact with the GA Adjusters and can assist in this regard and in the complete hanlding of this matter on behalf of the cargo insurers, including pursuing recovery against the carrier (or any other third party at fault) for any losses suffered.

If you would like us to assist you, we suggest that you contact us as soon as possible.

As appropriate, please contact:

Australia – Robert Hammersley

USA – Charles Droll

Hong Kong – Wendy Lee

United Kingdom – Paul Friett

Singapore – Paul Sansom

If this or future casualty notices should be forwarded to any of your colleagues, we would be pleased to receive their contact details and we will add them to our Client List.

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The importance of securities 19/02/2024
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