Further to our initial advice concerning the fire onboard INTERASIA CATALYST, the vessel remains detained at anchorage off Port Klang. Salvage services were provided by SMIT together with the Malaysia Fire Department, and the fire was eventually extinguished. Whilst it is too early to assess the extent, it is likely that ship, and cargo and containers in the affected areas, will have suffered damages as a result of the fire &/or firefighting efforts.

Shipowners have now declared General Average, so suitable GA securities will need to be in place before cargoes may be released for delivery. W E Cox Claims Group has already received instructions from part cargo onboard and we are in contact with appointed GA Adjusters, Richards Hogg Lindley, in this respect. The initial estimate for GA is set at 18% of property values.

If you are aware of any involvement in this casualty and W E Cox Claims Group may be of assistance in any way, including provision of GA guarantees, arranging surveys, adjusting any potential losses &/or undertaking recovery action, please do not hesitate to contact us.

As appropriate, please contact:

United Kingdom – Paul Friett

Hong Kong – Twinnie Lai

Singapore – Paul Sansom

USA – Charles Droll

Australia – Niall Orr

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.

The importance of securities 19/02/2024
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