Charterers encounter a
range of risks, including breaches of unsafe berth or port warranties that may
result in dock damage, vessel or cargo loss, bunker loss, and pollution
incidents. Further exposures can involve vessel damage caused by
off-specification bunkers or hazardous berths, tank coating deterioration due
to certain cargoes, and cargo shortages. The extent of these risks is
determined by the nature of the charter—whether voyage or time—and claims may
arise in tort from receivers, under terminal agreements, or through actions by
local authorities targeting both owners and charterers.
Our team has provided
guidance to leading commodity groups on managing their chartering risks and has
arranged charterers liability programs on their behalf.