Ship owners declare General Average for “MOL Initiative” cargo

Ship owners declare General Average for “MOL Initiative” cargo

Ship owners declare General Average for “MOL Initiative” cargo

   MOL Euro-Oriental Shipping S.A., owners of the containership “MOL Initiative,” have declared General Average, following a fire in the engine room of the vessel on April 3 off the coast of Japan.

   The vessel, deployed on the New World Alliance’s weekly Asia/U.S. East Coast/U.S. West Coast APX service, was on voyage from Oakland to Tokyo. The fire was completely extinguished April 9. The incident did not cause any injury or pollution, ship operator MOL has said.

   Following the declaration, MOL is required to hold cargo pending authority to release from their appointed General Average adjustors, Asai and Ichikawa of Tokyo. There will be a requirement to post separate salvage security to the salvors at the completion of the salvage operation.