If you have insured cargo on board the following vessels and would like us to assist you in pursuing any claims arising from these incidents (or any similar cases), or if you require assistance in providing GA or salvage guarantees, please contact us as soon as possible.
Date: 24th October 2016 Type: Engine Damage and General Average Voyage: Korea and Hong Kong to Vietnam and mainland China
Reports have been received that Cypriot flag vessel FRISIAN PIONEER (9,966gt, built 2003) has been towed to Hong Kong following a main engine breakdown.
The container vessel was on a voyage from ports in Korea and Hong Kong to Haiphong, Vietnam and Shekou, China.
We understand that the vessel’s cargo will be discharged at Hong Kong and transhipped to destination by the vessel’s charterers.
As a result of this incident, the vessel’s owners have declared General Average. Before the cargo can be delivered cargo insurers will need to provide an average guarantee. The cargo shippers or receivers will be required to issue average bonds.
The Average Adjusters have advised that only guarantees issued by cargo insurers with a credit rating of BBB- or higher will be accepted.
