Cargo ships navigating in Indian Ocean will have to pay higher premiums for war risk covers as marine insurers are expanding the exclusion zone for such policies because of widening pirate attacks in recent weeks. This could potentially raise shipping costs as the expansion would bring the entire ocean under the exclusion zone, and with
The Rotterdam Rules Εισαγωγή 1. Σε γενικές γραμμές, η Συνθήκη “The Rotterdam Rules (RR)” δεν έχει ουσιαστικές αλλαγές σε σύγκριση με την ήδη υπάρχουσα νομοθεσία, όσο αφορά τις ευθύνες και τις υποχρεώσεις των Φορτωτών. Τα περισσότερα χαρακτηριστικά επί του θέματος έχουν διατηρηθεί σχεδόν τα ίδια με αυτά που προβλέπονται στις συνθήκες της Χάγης (HR), της
Article 29 of CMR and safety-relevant contractual agreements Hitherto, little attention has been paid to a Nuremberg Court of Appeal decision that was issued on 4 February 2009. The court had to rule on the carrier's right to limit its liability in a case in which goods were stolen during international transportation after the carrier
and Fair Presentation of the Risk A recent case reaffirms the legal position on the question of what amounts to a fair presentation of a risk in the context of a non-disclosure dispute. The factual background was the sinking of a floating dock carrying a floating workshop during a voyage from Russia to Vietnam. The
Companies transporting their own cargoes typically include commodity traders and manufacturers who either deliver their commodities or goods to, or order their supplies from, overseas. In this case, it is quite possible that shipping is not the company’s main business and, while they may be aware of the need for marine cargo insurance that covers
There are shipping companies which, although accredited and highly esteemed in the industry, will advise you to always check your cargo for shortages and signs of damage every time you receive a shipment. If there is a problem, bring it to the driver's attention immediately. These companies rely on trust and confidence. It is expected
the way forward for the container industry? The first meeting of the Container Freight Derivatives Association (“CFDA”) was held in Shanghai on 14 September 2010. The CFDA is an independent organization for participants in the container freight derivatives market which, in its own words, has among its aims to “promote the trading of container freight
"Unification of Certain Rules for International Carriage by Air Convention (1929)" (Convention on the Unification of Certain Rules Relating to International Carriage by Air, 1929) referred to as the "Warsaw Convention" (Warsaw Convention), is October 12, 1929 set in Poland, Warsaw Convention on international air transport. February 13, 1933 entered into force. The Convention for
Protection may be available against most of these penalties, fines, errors, omissions and other claims exposures via our “Freight Services Liability” insurance cover. We also recommend that forwarders obtain competitive marine insurance cover for the cargo owner to protect their client relationships in the event of an unforeseen situation.A shortage of containers is causing concern
“Genuine Commercial Justification” as a basis for a liquidated damages clause in Shipbuilding Facts: XYZ Company signed a contract with the claimant shipbuilder for the construction of a luxury yacht. The contract price of €38 million was payable by installments over the course of three years, the first of which was due on 17 October
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