Vessel Owners and Charterers (among others) can limit liability for loss or damage to property based on the tonnage of the vessel involved in the incident. There are two international conventions that are frequently applied, the 1976 Convention on Limitation for Marine Claims (“LLMC 1976”) and the 1996 Protocol to the 1976 LLMC, which provide …
The post Security is key: English jurisdiction clause in P&I security held to be unaffected by Singapore limitation proceedings first appeared on Hellenic Shipping News Worldwide.