If a charterer
breaches the contract, the ship owner can sue, "and the owner would win," said Quartaro, although he noted that collection is more difficult in the case of a charterer
's breach than an owner's breach.
"It provides shipowners and charterers
with the reassurance of knowing that they have the resources and expertise of Control Risks to help them manage the crisis as well as the financial support of Hiscox to meet their Loss of Hire costs," Bisson said.
"The vessel had not been technically operated according to sound maintenance practices by the charterer
," the company claimed.
Sources said Ken wanted the ship impounded but was persuaded by its charterer
to sail with the crew to Heysham where cargo would be unloaded.
It has an exclusive arrangement with one of the world's largest trade credit insurance companies and AJ Gallagher, the world's fourth largest insurance broker, to deliver insurance protection against charterer
Where 100-foot vessels once seemed large, many of today's "super yachts" reach 200 feet or greater and are often now called "mega yachts." The charterer
benefits because he or she enjoys all the yacht has to offer, but only pays for the time aboard.
shipping company, a prudent charterer
should still be concerned about
A COGSA carrier includes the vessel owner or charterer
who entered into the contract of carriage with the shipper.
will also cover 100% of the equipment and installation cost for retrofitting the Vessel with an exhaust gas cleaning system.
Although the partnership would be indemnified by its sponsor, Hoegh LNG Holdings Ltd., for its share of the cash impact of any settlement with the charterer
with respect to such claims, the partnership has informed MOL of its intention to suspend the acquisition pending further resolution of this matter.