Levelling the legal landscape for surveyors
The ASG/ITIC 10 addresses the imbalance between owners' and surveyors' responsibilities typically encountered under existing indemnity agreements
SURVEYORS play a hugely important role in ensuring the safety of the world fleet. They have a tough job to do.
There are, of course, different types of surveyor, or sometimes the same surveyor doing different things. Surveyors supervise bunkerings and check cargo loading and inspect damage but the most vital and, crucially, they assess the general condition of the vessel and its watertight integrity. In other words, they often perform, on behalf of a flag state or classification society, an assessment of the ship's seaworthiness. That is a very big responsibility.
Unfortunately, things can go wrong. Ships can sink, sometimes very quickly if there is a structural failure, or suffer severe damage when the power of the sea overwhelms the ability of the ship to resist it. That is when lives can be lost and massive financial losses can be incurred.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
India’s IndiGo gets into long haul game with Airbus A350 deal
Hertz reports US$392 million loss as it unwinds Tesla fleet burden
Changi Airport’s Q1 passenger movements surpass pre-pandemic levels
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race