MICHAIL M- Grounding

Built                        1977

GRT                        2811

Vessel Type          General Cargo

Voyage from/to    Bulgaria to Conakry

Casualty date        7th May 2007

Cargo                     General Cargo

Reports have been received that the St Kitts flag vessel MICHAIL M, 2811 GRT, 1977 built has grounded at Cape Kanarya, Canakkale, Turkey at 0130hrs on May 7th. A salvage contract was signed and the vessel was refloated at about 20.00 hrs the same day. It seems the vessel did not heed navigation warnings in the area.

There are potential claims for salvage and General Average arising from this incident, as well as PA losses.

We understand that the salvage was performed on Turkish Form. In our experience, this has usually meant guarantees have to be given from a Turkish Bank or underwriter. We also mention in passing that the arbitrators get a percentage of any salvage award and the awards have tended to be high.

We are already instructed in respect of cargo valued at over 2 million Euros.

If you have insured cargo on board this vessel and require our assistance to deal with any security demands and claims for salvage and/or General Average, please contact us as soon as possible. We can also assist you in pursuing recovery for any losses that you may suffer.