CONSEQUENCES AND EFFECTS OF THE "EVER GIVEN" GENERAL AVERAGE IN THE SUEZ CHANNEL

Online retailers lose everything: Ever Given reports general average

What are the consequences of general average for companies?

General average occurs when the master of a ship, in order to rescue the ship from immediate, common danger to the ship and goods, incurs extraordinary expenses (e.g. for salvage) or sacrifices (e.g. sea throwing of the goods, stranding of the ship, flooding of the holds in case of fire). All parties involved in the maritime transport are liable for the damages and costs incurred in proportion to the values of the salvaged goods. Thus, claims up to the amount of your actual value of the goods may accrue to the partners involved.