ITIC Concludes 23-Year Case

Monday, December 05, 2005
INTERNATIONAL Transport Intermediaries Club (ITIC) has recently concluded its oldest case, dating back to 1982. Reported in the latest issue of the Club's Claims Review, the case involved a Taiwan-based ship agent who acted for a tanker calling at Kaohsiung.

Part of the ship's cargo of 500 metric tonnes of Toluene Dilsocyanate (TDI) was discharged into a bonded shore tank awaiting delivery against production of the original bill of lading. In the event, the consignee managed to siphon off the cargo from the tank without producing the bill of lading and without paying for the goods.

A Taiwanese bank commenced legal action in the Kaohsiung High Court against the tanker owner and the agent for US$560,000 - the value of the cargo. In Taiwan, the local agent for a foreign company has joint and several liability with the foreign company. The High Court initially found in favour of the owner and the agent, and the bank appealed to the Supreme Court of Taiwan.

Over the next twenty years the case was referred back and forth between the High Court and the Supreme Court no less than six times. Finally, at the end of 2004, the Supreme Court of Taiwan rejected the bank's appeal. The agent had won the case, with the assistance of ITIC, but the legal costs were in excess of US$90,000.

Elsewhere in the Claims Review, the Club looks at how a simple documentation error almost resulted in a violation of the US 24-hour rule. The ship agent involved inadvertently allocated a booking reference for a container that had been used for a previous booking.

Although the mistake was discovered, substantial costs had already been incurred. However, had it not been detected, the consequences could have been much worse, with the ship being fined or even refused entry into port.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Yilport Acquires Sweden's Gavle Terminal

Turkish terminal operator Yilport Holding has gained full control of Gävle’s terminals.   Yilport Holding acquired 100% shares of Gävle Container Terminal (GCT) and Baltic Sea Gateway (BSG).

ICS Pushing For Balanced Update of York Antwerp Rules

At the Comité Maritime International (CMI) Conference, in New York this week, the International Chamber of Shipping (ICS) will be pressing to ensure that the proposed

OMB - Subchapter M Cleared for Publication

The Office of Management and Budget (OMB) completed its review of the draft final rule entitled Inspection of Towing Vessels, also known as "Subchapter M." The

Finance

Daewoo Shipyard Posts Q1 Operating Loss

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering Co. posted a first-quarter loss after incurring more costs to finish some offshore projects.   First-quarter

Yilport Acquires Sweden's Gavle Terminal

Turkish terminal operator Yilport Holding has gained full control of Gävle’s terminals.   Yilport Holding acquired 100% shares of Gävle Container Terminal (GCT) and Baltic Sea Gateway (BSG).

USCG Foundation Run to Remember Events Announced

The Coast Guard Foundation, a non-profit organization committed to the education and welfare of Coast Guard members and their families, announced this year’s Run

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0785 sec (13 req/sec)