General Average Losses

1 minuteread by Gary Huddleston

General Average Losses — maritime partial losses sustained from voluntary sacrifice, such as jettisoning part of the cargo, to save the ship or crew, or from extraordinary expenses incurred by one of the parties for everyone’s benefit, such as the cost to tow a disabled vessel. General average losses are proportioned between the shipowner and cargo owners, usually according to the York Antwerp Rules.

1 minuteread by Gary Huddleston

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