Arcadia Progress - Grounding

Voyage from/to:        Qatar/Mundra, India

Casualty Date:         25th June 2007

Vessel Type:           Bulk carrier

Grt:                   23,381

Built:                 1982

Cargo:                 Unknown

Reports have been received that the Arcadia Progress has run aground in heavy weather off Porbandar. The severe weather conditions are preventing any recovery of the vessel or airlifting of the crew. The vessel is not thought to be at risk of sinking at present.

There are potential claims for salvage and General Average arising from this incident, as well as PA losses. If salvage security is required, our personal corporate salvage guarantees are accepted by Lloyds. We can provide salvage security on your behalf (subject to internal procedures) for a bail fee of 0.8% of the guarantee amount. Kindly note that if we are to place our personal guarantees, it is conditional on Dolphin being instructed to handle all negotiations arising from the matter on your behalf.

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. In this regard, we have identified the vessels’ P&I Club.