robin sathaye
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TRANSCRIPT
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Presentation
On
Maritime Risk Management Charterers Perspective
At the invitation of
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What are P&I Clubs
Mechanism by which shipowners insure each others liabilities
Managed by third party professionals
Run on a “non profit” basis
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Committee/Board of Directors
ManagersU/W, Accounts, Claims
Brokers
Members individually
Structure of a P&I Club
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P&I Clubs in existence today
• American Club• Gard Club• Skuld Club• Britannia Club• Japan Club• London Club
• North of England Club• Shipowner’s Club
• Standard Club• Steamship Mutual Club
• Swedish Club• UK Club• West of England
The International Group of P&I Clubs
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Charterers Liability Covers
What is it?
What types of risks are involved?• Class 1 (P&I)• Class 2 (FDD)• Damage to Hull (DTH)
How are these risks covered?
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Owners P&I Cover1. Protection and Indemnity (P&I)
Cargo Crew Fixed & Floating Objects Collision Wreck Removal Oil Pollution Fines, Penalties
2. Freight, Demurrage and Defense (FDD)
Legal expenses for non Class 1 / DTH matters
3. Damage to Hull of the chartered vessel (DTH)
Charterers P&I Cover
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P&I risks Cargo
• Directly to the receiver under the B/L• Charterers own B/L• “Carrier” in certain jurisdictions even if Owners B/L• Insolvency of the shipowner• Ineffective “identity of carrier” clause
• To the shipowner under the C/P• Inter Club Agreement (ICA) incorporated in C/P• Any other C/P provisions
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P&I risks
Personal Injury• To Ships crew due to stevedore negligence• To stevedores during cargo work• Ships crew or stevedores due to hazardous or
dangerous cargo• Consequential losses from unsafe port / berth• US jurisdiction - all pockets pay
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P&I risks
Oil Pollution• Unsafe port• “Operator of the vessel” pays• US jurisdiction - all pockets pay
Fines• Customs and other authorities in certain
jurisdictions
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P&I risks
General Average• freight / hire at risk• Time Charterers bunkers
Salvage • Charterers contribution to Salvage award
Legal Expenses
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FD & D risks
C/P disputes• Freight and laytime statements• Hire• Any other non Class 1 / DTH covered issue
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Damage to Hull (DTH)
Unsafe Port• Damage to ship• All other consequential losses
Contaminated Bunkers Stevedore damage Vessel damage caused by cargo eg.
dangerous cargo etc
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Some examples of Claims
Aegean Sea
Tasman Spirit
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End of presentation
Any questions?