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: 11th October 2010 Type: Piracy Voyage: To Kenya, Mozambique and South Africa
Reports have been received that the general cargo vessel IZUMI (built 2007, 14162gt) has been hijacked off Somalia. We understand that vessel is carrying a cargo of steel shipped by Nippon Steel.
It is likely that a ransom demand will be made by the pirates quite shortly. Shipowners commonly claim a proportion of any ransom payment from cargo owners as a general average contribution.
Because ransom payments can often lead to a very large claim on cargo insurers, it is important that the full circumstances of the hijacking are investigated.
We have acted for cargo insurers in respect of piracy incidents in the past and have often been able to negotiate reductions in general average payments requested from cargo insurers.
