Keith Jones News

Bossier City-Shreveport Navy Week begins April 27 and will continue through May 3. Navy Weeks focus a variety of assets, equipment and personnel on a single city for a week-long series of engagements designed to bring America's Navy closer to the people it protects, in cities that don't have a large naval presence. The events and special programs to be held throughout the "River Cities" are the culmination of planning and preparation over many months by the Navy Office of Community Outreach, multiple Navy assets and community leaders. "Our planning for this Navy Week started in January," said Gary Ross, the primary planner for Bossier City-Shreveport Navy Week. Rear Adm.

Who – shipowner or insurer – should bear the costs of any action taken to prevent a stricken vessel from getting into further costly difficulties? A seminar organized jointly by the Association of Average Adjusters and the International Underwriting Association heard that the market had long wrestled with the arguments, and that considerable uncertainties remain. The London event was given an outline of the main provisions of what could count as ‘sue and labor’ – a clause in marine policies under which the assured can recover reasonable expenses for minimizing or averting an insured loss.

Shipowners have been warned they could face being saddled with ‘negative equity’ in the insurance aftermath of disasters at sea, according to Keith Jones the outgoing chairman of the Association of Average Adjusters (AAA) at its London AGM, reports UK shipping trade association Maritime London. Jones listed a potential series of pitfalls awaiting shipping companies when a ‘constructive total loss’ (CTL) is declared. He urged owners to be wary from the outset of the costs over which they had control, of the expensive business of maintaining a wreck pending investigation of the cause of the casualty, and cautioned that they may be unable to recover their costs if the sums exceeded the eventual proceeds of sale of the wreck.