Maritime Risk International
Contracting issues in the heavylift sector
Rupert Banks and Ian Billington, at the Standard Club, consider the increasing risks for heavylift operators
As project cargos, particularly in the offshore oil and gas sector, become physically larger and of higher value, heavylift
operators are facing increasingly onerous contractual liability regimes. This article highlights current trends in heavylift
contracting: in particular, the fact that it is increasingly common for heavylift operators to be required under contract
to assume all liability for cargo, irrespective of fault. This is a worrying trend for heavylift operators; as such burdensome
terms bear no correlation with their risk-reward ratios.