The UKDC publication dated November 2014 and giving the clear answers to the most important and frequently answers about the OW bunkers, e.g. what OW entities are actually affected, whether they could act as physical suppliers/intermediaries or not, what approach should ship owners apply when facing a threat of arrest by the physical supplier, what conditions/terms shall be applied to the contracts with OW, and some other questions of critical importance. The content of this compact yet practical and informative booklet will be appreciated by anyone involved in the shipping business.
This official UKDC publication was released to cover such critically important aspects of the counterparty risk as causation, development of the law, remoteness, mitigation, accepting repudiator breaches, assessment of damages, date that damages are assessed, wasted expenditure as basis for damages, "cost of cure" basis of assessment.
It is important to define if the certain loss types would be recoverable in any case. And the main problem associated with this is to show that they were actually not too remote. After that, the claimant proceeds with the assessment of the damages incurred. In most cases courts look to the assessment in monetary loss terms...
1311 Views 0 Comments Read more
As a legal costs insurer it is clear that controlling the cost of litigation is of crucial importance to the Association. In July, 2012 a Circular was issued to the Membership on the "Effective Management of Claims and Control of Costs" which highlighted the importance of the accurate estimating of costs. In recent years the Board has seen a number of costly cases where lawyers have significantly underestimated the costs to be incurred in resolving the dispute.
Whilst estimating is not an exact science, the accurate estimating of costs is crucial and the Circular highlighted that if it becomes apparent that an estimate is likely to be exceeded then the service provider must raise this with the Managers at the earliest opportunity. Furthermore, in the case of an inadequate or inappropriate estimate the service provider will be expected to honour the estimate previously given unless there are mitigating circumstances. Through their Value For Money programme, and ongoing work with Preferred Legal Partners, the Managers continue to do their utmost to control the costs of handling and litigating claims.
This includes requesting lawyers to consider alternative fee arrangements to the usual approach of hourly billing and the use of an independent cost draftsman where appropriate. Historically, this has been limited to assessing the costs incurred by an opponent. However, going forward the Managers envisage using a costs draftsman to review cost estimates and also the fees incurred on certain cases with a view to encouraging a much greater focus on the cost effectiveness of steps being taken...
929 Views 0 Comments Read more
The UK P&I Club publication - Guide to People Claims - deals with the documentation and information that are normally required to handle the claims effectively. The information contained in the present official paper is mainly intended to give necessary details of the documentation and info that will be required by the members of the Club to quickly starts their claims.
The opening section of the booklet is Leadership in Action and provides general introduction followed by the list of team members. The flowchart of what shall be done and expected in the cases of injury and crew illness is provided. The next three sections of the booklet are dealing with the information that is required by the P&I Club in cases of any new crew illness and injury claims, death claims and third party or stevedore claims.
The professional advice for stowaways is given showing the measures to be taken in order to prevent stowaways and what to do if a stowaway is found. Information required in connection with the new stowaway, new passenger and new deviation claims is also described. The paper also contains standard form to be used for the re-imbursement requests. Have a look and you will have all necessary guidance.
146 Views 0 Comments Read more
This compact publication was released by the UK P&I Club with the intention to provide Japanese Club members with the guidance on the pre-employment medical examination program that is currently in place. The P&I industry commonly deals with the third-party liability claims raised against the operators of the vessels for illnesses, personal injuries and death - the total amount of the claims reached four hundred million dollars a year.
The crew illness claims represent about forty-six per cent of the claims. It has been noted that this problem is particularly acute for the operators of the Japanese vessels. Subject claims are complex in nature and they attract various costs - they can typically incur the costs from repatriation and sickness wages as well as medical treatment and compensation for disability.
Of course, serving on board Japanese vessels is not the actual cause of this all, but the Japanese shipping industry has undergone several significant changed in the past decade, and one of the changes was the internationalization of the operational control combined with the establishment of the overseas management based in Asia and other regions... Have a look in this paper and get some more information on this.
137 Views 0 Comments Read more
This official UK P&I Club publication is devoted to delivery of the cargo transported by ships without original bills of lading. It is quite common to accept and LOI, standing for the letter of Indemnity, for a lot of trades including oil and bulk cargo transportation. It should be noted, however, that even these Letters o Indemnity are usually accepted, thee can be serious consequences of this non-performance.
The P&I cover will be prejudices should the cargo be delivered against such Letter and claims arise in connection with mis-delivery of the cargo. That is why it is considered absolutely essential to get the correct wording of the Letter; it is also critically important for the Members to ensure that there are proper procedures in place and implemented for demonstration of compliance with the Letter.
All counter party risks concerned with accepting a Letter shall be considered as well. In fact, the Letter is only as secure as the party that provides it. It is now quite normal practice to have an LOI and deliver a cargo without Bill of Lading, though it is not recommended. However, the original bills may not be available in many cases due to the delays in documentation and other issues.
175 Views 0 Comments Read more
The officially released publication containing the fixed premium rules valid for the 2017-18 policy year. The content of the document is arranged in six sections. The first section provides the information about the Directors of the Standard Club including Europe and Asia, while the second section is devoted to the Managers and gives contact details for the quality management, compliance and risk management, finance and secretariat, and loss prevention directors, surveyors and executives, as applicable, in different parts of the world.
The third section of the volume contains the Rules themselves and is, in turn, divided into several parts covering insurance, scope of cover, risks covered, excluded risks and losses, scope of recovery and associated limits, obligations related to the claims, application and entry, ship standards, risk reviews, insurance period, premiums, general terms, conditions and definitions.
The next section is dealing with the additional covers. The last two sections of the publication address the oil spills in the U.S. and provide all required maps and correspondents. In short, one of the needful and practically useful papers, the one that shall be readily available at all times.
127 Views 0 Comments Read more
Here is a unique perfectly illustrated guidance booklet specifically designed to assist the marine surveyors and ship masters worldwide in checking the shipping documentation and make sure that is adequately describes the apparent order and technical condition of the steel when the cargo is loaded.
The publication recommends its readers a set of eighteen standard surface condition clauses supplemented with the sixteen mechanical damage clauses translated into eleven languages. The booklet is also intended to provide detailed guidance related to the inspection of the openings located on the weather deck. Most of the steel products easily rust and bend when they are carried at sea, in particular. The owners and operators of he vessels are usually there on the firing line should the bent and rusted steel cargo arrive at the destination port.
This has resulted in the necessity of the regularly conducted pre-shipment surveys of the steel cargo in order to ensure that the bills of lading and mate's receipts, as applicable, are accurately and clearly describing both condition and apparent order of the steel cargo at the time of taking it on board the vessel. The marine surveyors also look at the weathertightness plus the ventilation arrangements of the holds intended for the transportation of the steel cargoes...
2144 Viewing 0 Comments Read more
The "Read Later" function allows you to add material to this block with just one click. Just click on the icon and read the articles that interest you at any convenient time.