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Salvor
Marine salvage is the process of recovering a ship and its cargo after a shipwreck or other maritime casualty. Salvage may encompass towing, re-floating a vessel, or effecting repairs to a ship. Today, protecting the coastal environment from spillage of oil or other contaminants is a high priority. Before the invention of radio, salvage services would be given to a stricken vessel by any ship that happened to be passing by. Nowadays, most salvage is carried out by specialist salvage firms with dedicated crew and equipment. The legal significance of salvage is that a successful salvor is entitled to a reward, which is a proportion of the total value of the ship and its cargo. The amount of the award is determined subsequently at a "hearing on the merits" by a maritime court in accordance with Articles 13 and 14 of the International Salvage Convention of 1989. The common law concept of salvage was established by the English Admiralty Court, and is defined as "a voluntary succes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lloyd's Open Form
The Lloyd's Open Form, formally "Lloyd's Standard Form of Salvage Agreement", and commonly referred to as the LOF, is a standard form contract for a proposed marine salvage operation. Originating in the late 19th century, the form is published by Lloyd's of London and is the most commonly used form for international salvage. Innovations in the LOF 1980 have engendered a major change in environmental salvage. The salvage reward After a stricken ship accepts an offer of salvage from a salvor, a binding contract is created. It is then normal to agree upon the LOF in the interests of certainty of terms. The LOF is called "open" because it specifies no particular sum for the salvage job. Indeed it may not specify a sum, as salvage is not a "contract for services", but an agreement to provide a service in the hope of a "reward" to be determined later by an arbitration hearing in London, where several KCs practising at the Admiralty Bar specialise as maritime arbitrators. When deter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Convention On Salvage
The International Convention on Salvage is a treaty that was concluded in London on 28 April 1989 that replaced the Brussels Convention on Assistance and Salvage at Sea as the principal multilateral document governing marine salvage. The Convention's main innovation is that the scope of salvage law has been extended to cover "environmental salvage". "No cure, no pay" and environmental salvage The 1910 Brussels Convention had established the principle (known as "no cure, no pay") that a salvor is rewarded only if the salvage operation successfully rescues the ship or its cargo. The International Convention on Salvage expanded on this principle by introducing the concept of an "enhanced salvage award", which may be awarded by an arbitrator or a tribunal if the salvor took effective action to prevent or minimize environmental damage but nevertheless failed to salvage the ship or its cargo. The 1989 Convention entered into force on 14 July 1996 and as of April 2016 has been ratified ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Nagasaki Spirit
''The Nagasaki Spirit'' 997 is an English admiralty law case on marine salvage and on the provisions of Article 13 and 14 of the 1989 Salvage Convention. The case identified problems with the drafting of the Convention, a response to which was the 2000 SCOPIC codicil which may be attached to the Lloyd's Open Form ("LOF") to vary the terms of the salvage reward. Facts The case involved a collision in 1992 between the oil tanker ''Nagasaki Spirit'', laden with 40,000 tons of crude oil, and the container ship, ''Ocean Blessing'' in the northern part of the Malacca Straits. After the collision some 12,000 tons of crude oil escaped into the sea and caught fire; both vessels were engulfed in flames. All the crew of the ''Ocean Blessing'' perished and only two crew on ''The Nagasaki Spirit'' survived. Professional salvors agreed to salve the ''Nagasaki Spirit'' under LOF 1990 (which included Arts 13 and 14 of the Convention). Using several tugs, the fire was extinguished, the cargo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shipwreck
A shipwreck is the wreckage of a ship that is located either beached on land or sunken to the bottom of a body of water. Shipwrecking may be intentional or unintentional. Angela Croome reported in January 1999 that there were approximately three million shipwrecks worldwide (an estimate rapidly endorsed by UNESCO and other organizations). When a ship's crew has died or abandoned the ship, and the ship has remained adrift but unsunk, they are instead referred to as ghost ships. Types Historic wrecks are attractive to maritime archaeologists because they preserve historical information: for example, studying the wreck of revealed information about seafaring, warfare, and life in the 16th century. Military wrecks, caused by a skirmish at sea, are studied to find details about the historic event; they reveal much about the battle that occurred. Discoveries of treasure ships, often from the period of European colonisation, which sank in remote locations leaving few livi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Protection And Indemnity Insurance
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure. Typical P&I cover includes: a carrier's third-party risks for damage caused to cargo during carriage; war risks; and risks of environmental damage such as oil spills and pollution. In the UK, both traditional underwriters and P&I clubs are subject to the Marine Insurance Act 1906. A P&I club is a mutual insurance association that provides risk pooling, information and representation for its members. Unlike a marine insurance company, which reports to its shareholders, a P&I club reports only to its members. Originally, P&I club members were typically shipowners, ship operators or demise charterers, but more recently freight forw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loss Of The Royal George, At Spithead (1871) Loss may refer to: Arts, entertainment, and media Music * ''Loss'' (Bass Communion album) (2006) * ''Loss'' (Mull Historical Society album) (2001) *"Loss", a song by God Is an Astronaut from their self-titled album (2008) * Losses "(Lil Tjay song)" (2020) *"Losses", a song by Drake from '' Dark Lane Demo Tapes'' (2020) *"Losses", a song by Polo G from '' Hall of Fame'' (2021) Other uses in arts, entertainment, and media * ''Loss'' (comic), a webcomic strip and internet meme * ''Loss'' (film), a 2008 film by Maris Martinsons * |
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