n Enterprise Risk - Payment of ransom illegal under SA law : short term

Volume 3, Issue 5
  • ISSN : 1993-8217


A risk to ship and cargo owners is in the realm of general average. General average is a shipping principle which says that where a ship incurs an extraordinary expense that is for the benefit of all parties interested in the voyage of the ship, i.e. charterers, cargo owners and the ship owner themselves, everyone has to contribute proportionately to those expenses.

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