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
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 ...Continue Reading →