NORFOLK EXPRESS

Voyage from/to    Cargo worldwide

Casualty type       Grounding

Casualty date        30th May 2008

Cargo                     1000+ containers

Reports have been received that the German flag vessel, 36606 GRT, 1995 built remains aground south of Ras Shukheir, where it has been aground since 30th May. The Egyptian salvors, working in conjunction with international salvors Svitzer, continue to lighten the vessel by removing some of the over 1000 containers on board, in an attempt to refloat it.

There are potential claims for salvage and General Average arising from this incident, as well as PA losses. We believe that the salvage claim will be included in the GA claim.

Our estimate of the exposure at this early stage is 10% of CIF values.

If your corporate GA guarantees are accepted by the GA Adjusters Stichling Hahn, then we can assist you in checking and advising on potential GA defences. If your corporate GA guarantees are not accepted, we can also assist you in providing GA security.