General Average.. what exactly is it?

Imagine a cargo ship full of containers on its voyage and something unexpected happens during the trip, anything from:

  • Theft of Goods
  • Loss or Damage
  • Sinking, Capsizing, Container dumping
  • Loading and Unloading incidents
  • Warehousing and storage issues
  • Fire

General Average is a principle of maritime law that essentially establishes that all sea cargo stakeholders (owner, shipper, etc.) evenly share any damage or losses that may occur as a result of voluntary sacrifice of part of the vessel or cargo to save the whole in an emergency.

A good ...

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