Kidnap & Ransom Insurance (“K&R”) was originally developed to protect individuals when they visited high risk areas. However, given the spate of piracy attacks on vessels with the pirates holding the crew members to force Owners to pay ransom, this…
The General Insurance Association of Singapore and Singapore Maritime Foundation regularly conduct talks on developments occurring in the industry (Maritime Knowledge Shipping Session) and invite various Shipping and Marine Insurance professionals to share their knowledge and expertise. The latest…
Due to the different practices in the adjustment General Average, there was clamor for uniformity and which led to the establishment of the York Antwerp Rules, commonly known as YAR (it started with The York Rules 1864 followed by The…
While we remain convinced of the advantages of the use of Arbitration Clauses in Liner Bills of Lading to deal with disputes, there is some skepticism as to whether an arbitration clause in a Liner Bill of Lading is indeed…
We have been advised by our clients (Carriers / Operators involved in bulk and liner trades) that they have received requests from various 3rdparties (mostly from ICC-International Maritime Bureau) seeking confirmation on the authenticity of documents together with shipment details.…
We were recently involved in a Transport Liability claim in which the claim exceeded the limits provided under the policy. The question then was what were the amounts properly due under the Policy? Under-insurance occurs when the value of the…
Our earlier article, Salvage & General Average – Uninsured Cargo Interests, did not touch either on Partial or Total losses. Given that some of the uninsured cargoes may either be a Partial or a Total Loss, we are writing this…
The past few weeks have been full of news on the fire in Maersk Honam. This casualty resulted in loss of 5 lives and our sympathies are with the bereaved families. Owners of Maersk Honam have declared General Average (the…
Some of the recent developments in the Liner industry are as follows: Block chain: Originally developed for the virtual currency Bitcoin (which has of late, been getting a bit of bad press), Blockchain1 uses distributed ledger technology and are appearing…
We have been propounding arbitration to deal with disputes in the Liner Industry. The majority of the Bills of Lading issued in the Liner industry still incorporate a Law and Jurisdiction Clause (providing for the courts of a particular jurisdiction…