We have learned of a new incident involving the vessel FU MAY a 2002 built 40,008gt Bulk Carrier, which was reported aground near Palmas Island whilst maneuvering for berthing at Santos, Brazil.

The vessel, having loaded 65,000 mt Yellow Corn at Sao Francisco do Sul and due to load a further 5,000mt at Santos, is bound for China.

Early indications are that the vessel would attempt to refloat on high tide.

It is yet to be determined if salvage services may be required or whether General Average may be declared, but should insurers determine that they are involved with cargo on board and W.E. Cox Claims Group may be of assistance in any way, we would be pleased to hear from you.

The importance of securities 19/02/2024
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