General Average explained and Reminder to ensure cargo is Insured
General Average vexplained and Reminder to ensure cargo is Insured
General Average - Oh So Misunderstood
While the concept of General Average (GA) is widely recognised and as old as maritime transport itself, it is also a commonly misunderstood process. This principle of maritime law governs the process by which all stakeholders in a particular voyage share losses resulting from actions taken in an emergency. Incidents that might be fresh in the reader's mind are the YM Efficiency container stack collapse in Botany Bay last June and the APL Los Angeles grounded in Fuzhou (China) in September with Australian interest cargo on-board.
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