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: 12th November 2010 Type: Hijacking Voyage: From Fujairah
Reports have been received that Panama flag vessel YUAN XIANG (14538gt built 1978) was hijacked by Somali pirates in the Arabian Sea yesterday.
The general cargo vessel has 29 crew on board. She was hijacked somewhat further east than most vessels taken by Somali pirates and was outside the corridor patrolled by the Naval Forces.
This may be an example of a apparent recent trend of the Somalis to extend their operations eastwards and closer to the coast of India than East Africa.
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.
