Global Trade, Admiralty Law And Zero Sum Games
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Keywords
Admiralty Law, Maritime law, Arbitration, Lloyd’s, Subrogate, Global trade, Zero sum games, Supply Chain, Shipping, Beaufort scale, Damaged cargo, Ship arrest
Abstract
A shipment of heavy sand from Australia was contaminated by sea water during a hurricane. Upon examination of the ships hold hatches, it was determined by the consignee that the hold hatches were in poor repair and faulty. Immediate compensation for the insurance deductible and shipping expense was demanded of the ships owners. Claiming an act of God under Admiralty Law, the ships owner refused payment. Upon consultation with maritime attorneys, the consignee decided to apply a provision of maritime law and arrest the ship to force payment.