please be informed that a fire has broken out on MV Hanjin Green Earth on May 1st 2015 while she was convoying the Suez Canal on the way to Hamburg port. Damaged containers were unloaded on the way and the vessel then continued on her voyage. According to the latest news, only small number of containers were affected.
The circumstances of this casualty give rise to General Average.
General Average is a system whereby the various interested parties contribute to losses or expenses which have been incurred as a consequence of acts by the vessel’s Master, which are necessary for the common safety in order to save the vessel and the cargo from a common peril.
Generally, after a General Average act by the master, the shipowners declare General Average and appoint general average adjusters for the assessment of the amounts of contributions to be paid by the respective parties.