The UAE acceded to the 1989 ‘International Convention on Salvage’ in 1996, and it is taken into effect as law. Under the convention, a salvor who rescues distressed vessels and/or property from loss at sea is entitled to remuneration in the form of a salvage award. However, the rescue operation is historically done at the risk of the salvor, meaning that he will only receive an award for property actually salvaged. Fichte & Co’s international team guides clients during this stressful period and is able to advise on the risks, regulations, and processes that are involved under law.
Maritime News
Introduction The UAE has recently ratified the 1996 Protocol to the 1976 Convention on Limitation of Liability for Maritime Claims (LLMC) and this protocol will enter into force on the 23rd of May 2021. What this will mean for the maritime industry and the applicability of the LLMC Convention and the respective Protocol in the…
Time charterers and demise charterers are usually responsible for supplying the chartered vessel with bunker supplies for the term of the charterparty. Bunker supplies are often supplied on credit terms with a delayed term for payment following the delivery of the bunkers. During difficult market conditions, it is not uncommon for charterers to become insolvent…
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At Fichte & Co, Managing Partner Jasmin Fichte leads a team that is ‘impeccable, in all areas.’ It handles an array of high-value claims for international clients and government entities.
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