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In October 2006, the capesize bulk carrier Ocean Victory was discharging iron ore at Kashima in Japan when weather deteriorated. A long swell combined with a northwesterly gale reaching Force 9 on the Beaufort scale. The master decided to leave the berth, lost control of the vessel in the Kashima fairway, and she was driven onto the breakwater and became a total loss. The vessel's hull insurers paid, took an assignment of the owners' and demise charterer's rights, and brought

A voyage charter gives the charterer a fixed period to load and discharge. Use less and the owner may owe despatch. Use more and the charterer owes demurrage. Between those two outcomes sits a calculation that is arithmetically simple and legally treacherous, and most disputes turn on which hours counted rather than on how the addition was done. The Laytime Definitions for Charter Parties 2013 define laytime as the period of time agreed between the parties during which the ow

Insurance Policies Breakdown Insurance is one of those things most people think about only when something goes wrong. By then, the question is no longer what coverage costs, it's whether you have the right kind. This is a straightforward breakdown of what Nord Young offers across both marine and commercial lines, what each coverage type actually does, and why it matters to the businesses we work with. We work with clients on both sides of the industry divide. Whether you're