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The Claims Review - Issue 46, April 2022

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Claims Review 46

Claims Review 46 (simplified Chinese)

Claims Review 46 (traditional Chinese)

Welcome to the April edition of ITIC’s Claims Review

28/04/2022

Welcome to the April edition of ITIC’s Claims Review

The complete ITIC board successfully met in person, for the first time since 2019, at the end of March in Athens. The board meeting was followed by a drinks reception, which was well attended by over 80 members, insurance brokers and other important contacts. It was nice to finally see so many of our members in person at an event.
May the force not be with you

28/04/2022

May the force not be with you

A fixture was being negotiated for a March loading. All the correspondence referred to the shipment taking place in March. However, once the main terms had been agreed, the broker sent a confirmation email containing a recap inserting May instead of March. The broker thought nothing of it until the charterers asked whether the owners had nominated a ship for the March loading.
Paradise is not twice as nice

28/04/2022

Paradise is not twice as nice

A banker wished to charter a yacht for a holiday. ITIC insured the yacht broker acting for the charterer who provided details of a yacht MY PARADISE to them, which had been received from the yacht’s central agent. Unfortunately, the information provided by the broker to the charterer included pictures and details for a more expensive yacht called PARADISE
No fixture, no problem

28/04/2022

No fixture, no problem

A ship had been fixed by a shipbroker, who then received notice from the charterer to cancel the fixture due to the closure of Ukrainian ports as a result of the Russian conflict.
Foul up

28/04/2022

Foul up

A commercial manager was held responsible by their principal for failing to arrange a pre-departure survey in respect of fouling of the hull.
Q&A with Aysegul Wallis

28/04/2022

Q&A with Aysegul Wallis

Aysegul is the newest member of the ITIC team, joining as an account executive in March 2022. In this interview we learn what Aysegul is looking forward to most about her new role and we discover which food she can never say no to.
Grab n’ not go

28/04/2022

Grab n’ not go

A bulk carrier arrived at the discharge port with one of its own cranes not operational. The agent, insured by ITIC, made alternative arrangements for discharge which included the hire of a shore crane and grab.
Missed messages

28/04/2022

Missed messages

A shipbroker received a demurrage claim of US$ 80,000 by email to their fixture email address, “chartering@shipbroker.com”. However, the recap stipulated that all claims must be sent to “claims@shipbrokers.com”. In fact, the owner had used this address many times in the past. As a result, the demurrage claim sent to the fixture email address was missed by the broker. 
Angry investors

28/04/2022

Angry investors

A marine surveyor was contracted to carry out a valuation of a vessel for an IPO. The valuation was agreed to be based upon a visual inspection only. The valuation was included in the IPO prospectus and various parties made investments in the company. The market at the time was difficult and ultimately the single owning vessel company entered into administration.
Copyright confusion

28/04/2022

Copyright confusion

A marine consultant and marine surveyor worked under the company name of ABC Ltd (not the real name). The surveyor, without realising, used the logo (really just a type of font) of another company with a very similar name, being ABC LLP. They also used this logo in a video, which was then uploaded by a third party onto social media.
Consolidated chaos

28/04/2022

Consolidated chaos

A ship agent based in Colombia received a claim as a result of an administrative error when entering booking data into the carrier’s system and customs system.
Tighten the strings

28/04/2022

Tighten the strings

A naval architect designed a series of fast pilot vessels. They completed the designs and submitted them to the classification society. The plans were returned and class advised that the forward stringers should be strengthened.
Laycan't win 'em all

28/04/2022

Laycan't win 'em all

A shipbroker arranged a contract of affreightment (“COA”) between owners and charterers. The COA ran for the 2020 calendar year and provided for a minimum of 4 and maximum of 12 shipments per quarter in charterers’ option.
One Direction – the wrong one

28/04/2022

One Direction – the wrong one

A ship agent received instructions from their principal to arrange transit through the Panama Canal, from Balboa to Cristobal (northbound direction). The agent made the arrangements via the Panama Canal Authority (PCA), however, after they had done so they realised that they had arranged Cristobal to Balboa (southbound direction) in error.
Ask the Editor

28/04/2022

Ask the Editor

Unsurprisingly, we have had many emails asking us about sanctions over the last few months. This particular question summarises the issue we have seen quite well: “As a shipbroker, we are concerned about the numerous different sanction regimes in place in respect of the Ukraine/Russia conflict. How do you suggest we protect our position?”