Courts Rule on Lost Profits

Wednesday, August 27, 2003
The U.S. Court of Appeals for the Fifth Circuit ruled that a ship owner whose vessel was damaged due to negligence is entitled to recover lost profits for the period the vessel was out of service if the vessel was active in a market ready for its services. In the instant case, plaintiff's barge grounded in the Pascagoula channel. The trial court found the government to be partially negligent because the channel as marked was inconsistent with the channel as dredged. The appellate court ruled that it is not necessary for a ship owner to show that it lost particular charters in order to recover lost profits. Maritrans Operating Partners, LP v. Port of Pascagoula Source: HK Law

Contracts

ACE Winches Bags Order from Vard

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Legal

Philippines: Sea Dispute Won't Shift Ties with China, U.S.

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Hanjin Shipping to Submit Self-Rescue Plan

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US Coast Guard Announces Final TWIC Rule

The U.S. Coast Guard announced Tuesday the publication of the final rule concerning Transportation Worker Identification Credential (TWIC) reader requirements. The

 
 
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