TT Club today announced a third consecutive year of rising premium income and a fifth consecutive year of increasing net worth for its 2006 financial year, marking another year of solid performance.
The International Maritime Organisation has set up a new sub-division within the UN secretariat's maritime safety division in response to enhanced focus on maritime security.
That the bill of lading is said to have been lost is no excuse for delivering the shipment without production of the original document. The reality is one can never be 100% sure what has happened to the original set of bill(s) of lading: are they indeed lost, or has someone just overlooked the business of paying the seller? If the carrier releases cargo without firm evidence of the consignee's right to take delivery, the carrier does so entirely at its peril.
AIison Cook of the Club's Sydney office helpfully draws readers' attention to a problem faced by the local transport operators relating to recovery of container detention charges:
The saga of the MSC Napoli, the 53,409 gross tons container ship that started taking in water in a January storm and now lies, deliberately beached, in Lyme Bay in Devon, has provoked a stream of unsettling images, emotionally-charged headlines and thousands of column inches of reporting and comment.
Many Members and operators are constantly plagued by uncollected / unclaimed cargoes, which may bring about considerable bills on warehousing, container "demurrage" (i.e. late-return charges), and disposal costs. In the worse situations, it may get the transport operator involved in customs problems. Also on the overall account is the hidden time cost incurred in getting rid of the uncollected shipments.
A lien means the right to detain possession of somebody else's property as security for a debt. It is an aggressive but difficult tool. Transport operators must understand how to exercise a right of lien properly, or they may face claims for unlawful detention of the goods. The Club would like to offer the following advice.
