Tribunal considers whether Owners additional insurance against piracy risks was “necessary”

Owners’ additional insurance against piracy found not “necessary” and additional premiums unrecoverable

London Arbitration 4/13

The Tribunal considered whether it was “necessary” for Owners to take out additional insurance against piracy risks. The Tribunal adopted an objective approach towards the meaning of the word,

All industry participants will be well aware of the difficulties caused by the recent flourishing of piracy in the western Indian Ocean and elsewhere. A whole vessel security industry continues to grow, particularly in Dubai, as a result. In recent times, minds have turned to consider the liabilities and consequent legal and insurance issues arising

On 1 February, the Security Association for the Maritime Industry (“SAMI”) launched its International Accreditation Programme for Private Maritime Security Companies. Members of SAMI will undergo a three-stage process of due diligence, systems checks and site visits. Whilst the programme will be managed by SAMI, all accreditations will be performed by an independent body, the

In November 2011, judgment was delivered in Pacific Basin IHX Ltd v Bulkhandling Handymax AS (The “Triton Lark”) which considered the true construction and implementation of the CONWARTIME 1993 clause. This case was considered in a previous post.

In a further judgment between the same parties dated 25 January 2012, Mr Justice Teare has sought

The House of Commons Foreign Affairs Committee has published its Tenth Report of Session 2010-12, entitled “Piracy off the coast of Somalia”.

The report includes findings and recommendations dealing with several key aspects of piracy, including private armed security guards, the naval response in the Indian Ocean, the UK’s response to piracy, bringing pirates to