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A London shipbroker negotiated the sale of a small ship of the type commonly used for coastal trading. The buyers were based in the U.S.A. The sellers, although a Liberian company, were domiciled in

The UK position is very similar to the EU position as most of the UK sanctions were implementations of the EU sanctions.   The UK Treasury has stated (as of 16 January 2016) that the major

At ITIC’s Forum 2000 the talk was of how “dotcoms” would be replacing the marine intermediary.  Almost twelve months later the situation has changed considerably. Just a few years ago

In the current market it is inevitable that some principals will simply be disappointed by the broker’s view of what their ship is likely to obtain. The fall in values may create issues due to the

ITIC is increasingly asked to comment on confidentiality agreements, sometimes known as nondisclosure agreements. The use of confidentiality agreements has always been common when parties are

ITIC is the leading provider of professional indemnity insurance to superyacht professionals, insuring more than 100 companies worldwide. The team at ITIC has a thorough understanding of the risks,

ITIC is a leading provider of professional indemnity insurance to aviation and aircraft industry professionals in every specialist field of the industry. ITIC currently insures over 300

Liability of a marine surveyor A marine surveyor received a telephone call from a marine insurance broker requesting the survey and valuation of a 17 year old yacht for insurance purposes. He was

Shippers of a cargo of wheat instructed a marine surveyor to survey and certify the holds of a bulk carrier as fit for loading.  The surveyor issued a certificate of fitness to load and

In 2016, a bulk carrier suffered a stern shaft breakage during a voyage, causing the engine room to be flooded with seawater and leaving the ship out of control. The shipowner immediately arranged