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A ship broker had entered into an exclusive commission agreement with a ship owner, which provided for commission of 5% to be paid to the broker on the sale of any of their fleet of vessels even if…

ITIC has recommended a post fixture clause for brokers to place at the end of recap messages. The following wording was endorsed by FONASBA at its annual general meeting in Gothenburg in October…

ITIC’s ship management Members have expressed concern when they are being asked to sign letters of undertaking. As such, ITIC have often been asked to provide advice and commentary. To answer some of…

More and more cases of fraud are being reported to ITIC. Fraudsters use brokers, agents and ship managers as a vehicle for crime. The result leaves them exposed to a liability as a result of…

Prior to the vessel’s arrival, the master of the vessel sent an email to the agent asking for advice regarding whether there were any restrictions on the type of fuel that could be used whilst the…

The parties then agreed to widen the permissible discharge range to include a Singapore - Malaysia option. The full recap contained the same wording regarding the cost of piracy cover. The ship…

A fire had caused substantial damage to the insured vessel. Owners claimed the ship was a Constructive Total Loss (“CTL”) alleging the cost of repairing her was in excess of her insured value. The…

Prior to vessel’s arrival the Master contacted the PIC and informed him that the original bill of lading was to be presented on board before the vessel would discharge the nominated cargo. A search…

The first case involved commission on a time charter. Hire had been paid. ITIC made contact with debtors who confirmed that the commission was due. They said that it would be paid but could not give…

A safety auditor was engaged by an oil & gas exploration company to conduct a routine operational safety audit of an air charter operator. The client was particularly interested in the safety…