TSS PEARL

scrapped

General information

Course/Position

Latest news

X-Press Feeders has filed a 29.4 million Dollars lawsuit

After the loss of the 'TSS Pearl' about 300 kilometres southeast of Port Sudan on Oct 13, the Singapore based Sea Consortium, parent of X-Press Feeders, has filed a 29,4 million Dollars lawsuit in the USA against its former partner Tehama Shipping for the loss of cargo. Speculation from a senior insurance source suggested 490 containers of X-Press Feeders may not have been insured, which could account for the bid to recoup nearly 30 million Dollars in losses. Reportedly, less than 50 % of cargo carried on container ships is insured. Sea Consortium calculates that claims for 29.4 million Dollars could be made by cargo owners whose freight was lost. X-Press Feeders has already received claims from its customers for losses. The amount of each loss is derived from an average of 60,000 Dollars per container for the 490 containers with X-Press Feeders bills of lading. According to Sea Consortium, it had an agreement to cargo from Saudi Arabia to Yemen with Tehama. Each company would act as the vessel operator four times. When not acting as the vessel operator, the other partner would be considered a slot charterer. When the 'TSS Pearl'sank, Tehama was the vessel operator and Sea Consortium said it breached its contract as the operator by not safely delivering cargo to Yemen, leaving the company open to claims from its shipper clients. On Nov 16, Lawyers filed the claim with the court and no date has yet been set for the hearing.

sunk

The TSS PEARL is on 13.10. sank to a water depth of around 1000 meters

Charter

1 - 3 months charter, trading West Mediterranean - West Afica, Maersk