The long-standing concept of General Average, which seeks to share equitably costs arising from maritime casualties, has never been more relevant, it was stressed at the 2024 annual dinner of the Association of Average Adjusters in London.
Read moreDetailsAccording to Bloomberg, the owner of the ship responsible for damaging Baltimore’s Francis Scott Key Bridge, the Dali, has initiated a formal "general average" process.
Read moreDetailsGeneral Average has been declared by charterers after the containership ZIM CHARLESTON suffered a cargo fire off Colombo earlier this month.
Read moreDetailsMarine insurer Allianz Global Corporate & Specialty SE (AGCS) issued the Safety & Shipping Review 2022, explaining that large vessels continue to drive ever-higher exposures, with fires, container and carrier losses, hazardous cargo, costlier salvage operations and issues with port of refuge leading to oversized losses and general average becoming more frequent.
Read moreDetailsDeclaring “General Average” is a practice regularly seen after a maritime casualty, including the high-level Ever Given grounding.
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