ITIC settlement in US$6 million claim

In a complex case highlighting the risks ship managers face from legacy vessel issues, International Transport Intermediaries Club (ITIC) has successfully resolved a US$6 million claim against a ship manager for only a fraction of the original demand. The ship manager took charge of a ship which was more than 12 years old under a SHIPMAN contract, albeit for just a short six-month duration. Despite the brief tenure, the manager faced a substantial claim alleging failure to identify and address pre-existing defects dating from previous owners and managers.