Claims for MTO/NVOCC  (AMTOI – Chennai)

Background:
Total loss of containerised cargo in a vessel that sank. Notified in the year 2007

Total Claim Value:
USD 839,570.00 (Cargo value was USD 800K and the balance was the value of the container)
Assured issued their HBL. Assured had a contract with the operator of the ship but Master B/L was signed by the operator on behalf of the master resulting in no recovery from the operator
Recovery claim directed to the owner of the ship
Legal Liability towards cargo & underwriters support by defending the claim by appointing Lawyers and Surveyors (Cost & Expense Section)

Quantum of Liability:
Assured liable for limitation as per weight of the goods which is usually the same as the carrier
Carrier also entitled to tonnage limitation since the vessel sank
Value of the goods appx. USD 800,000
Limitation of the Assured: Appx. USD 450,000
Tonnage Limitation of the carrier: Appx. USD 150,000

Conclusion:
From the above it is safe to say that all sea ocean shipments will not always be BACK TO BACK