General Average declared for “MV Dali”

Singapore-based Grace Ocean has officially declared General Average on its vessel, the Maersk-chartered and operated Dali, which was involved in the Francis Scott Key Bridge allision in Baltimore.

General Average is a maritime principle where all parties involved in a sea voyage share any losses incurred, with the share a shipper will have to pay correlating with their share of the cargo value. The shipowner, manager, and charterer will also be partly liable.    

The decision indicates that besides the colossal damage costs associated with the bridge collapse, the owner expects the salvage operations to result in extraordinarily high costs,  which will be recouped by contributions from all parties involved under General Average. In the case of insured cargo, the transport insurers cover the costs.

Foto: DVZ, April 15th, 2024, Imago/Cover-Image