Ship Agents Face Increasing Pressure From Telex Releases

Press Release
Thursday, March 29, 2012

International Transport Intermediaries Club (ITIC) said that mistakes in arranging so-called ‘telex releases’ are a frequent and growing source of claims against ship agents. ITIC points out that this practice – whereby liner agents frequently have to arrange for cargo to be released against bills of lading surrendered at the port of loading – is risky, as no bill of lading is collected at the discharge port, and misdelivery of cargo frequently results. 

In the latest issue of its Claims Review, ITIC cites a recent incident in which two containers, both consigned to the same company, were shipped to a port in the Netherlands. The shipper gave instructions to the load port agent to release one of the containers. This authority was passed to the discharge port agent, who mistakenly released both containers. The consignee never paid for the second container, and the shipper appointed lawyers to pursue recovery from the shipping line of Euro 76,000, the value of the cargo in the second container. The claim was eventually settled, after negotiation, for Euro 66,000, which was claimed from the discharge port agent.

Elsewhere in its Claims Review, ITIC cites a number of other cases involving ship agents, including one where an error on the part of an agent resulted in a fleet operator forfeiting its entitlement to volume discounts from a canal operator totalling approximately $2.7 million. Following intervention by ITIC, the claim was eventually settled for $1.2 million.

 

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Diana Extends Containership Time Charters

Diana Containerships Inc. announced direct continuation of time charter agreements for m/v Cap Domingo and m/v Cap Doukato   Diana Containerships Inc., a global

MSC Approves SOLAS Amendments

SOLAS amendments to make IGF Code mandatory approved by Maritime Safety Committee   The International Maritime Organization’s (IMO) Maritime Safety Committee (MSC),

Kings Point Student Earns NMRA Scholarship

The National Marine Representatives Association (NMRA) recently awarded its second $500 scholarship to a student pursuing education in the marine industry and maritime trades.

Insurance

Night Moves on America's Waterways

Overnight operations are certainly not unusual on America’s inland waterways, but that doesn’t make them any less hazardous. Onboard activities that seem so straightforward

DGS Marine Advises Fixed Premium P&I Cover

DGS Marine, a leading global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I facility, has highlighted the benefits

Russian Firms Face Huge Insurance Costs as Foreign Providers Flee

Russian companies face billions of dollars in extra insurance costs as Western sanctions prompt foreign insurance firms to start pulling out, worried that any business

 
 
Maritime Security Naval Architecture Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1700 sec (6 req/sec)