Informa Maritime & Transport is a specialist in international maritime, transport and fishing information products and services.

Bills of Lading
Was: $624.00
Now: $531.00

Informa Maritime & Transport is a subdivision of Informa PLC. The parent company’s 40,000+ academic and business titles in print are founded on high value content in a wide variety of subject areas, including maritime trade. The Informa Maritime & Transport division produces Lloyd’s List, the oldest newspaper in the world. This daily newspaper provides maritime news around the clock, in print and on the web.

Llyod’s List is closely associated with the British insurance market Llyod’s of London. The market began in Edward Lloyd’s coffeehouse around 1688 in Tower Street, London. While Lloyd was only the proprietor of the coffeehouse, his establishment was a popular place for sailors, merchants, and shipowners. Lloyd catered to them with reliable shipping news and a variety of services, and so Lloyd’s became quite a reliable source for shipping news. That news was posted in the establishment initially, and was distributed in print as Llyod’s List by 1734. The shipping community frequented the place to read the latest news and discuss insurance deals among themselves. This made it the meeting place for parties wishing to insure cargoes and ships, and those willing to underwrite such ventures.

Charter-Parties

Voyage Charters (3rd Edition)
Was: $770.00
Now: $657.00

Time Charters (5th Edition)
Was: $712.00
Now: $657.00

Informa Maritime & Transport has published a guide for each of the two types of contract between merchant and shipowner: Time Charters and Voyage Charters. The charter-party is the legal instrument by which a ship is let or hired for the conveyance of goods on a specified voyage (Voyage Charter), or for a defined period (Time Charter). In such agreements, the charterer takes control of the vessel’s operation for the specified duration.

In a Voyage Charter, the charterer hires the vessel for a single voyage, while the vessel’s owner provides the master, crew, bunkers and supplies. In a Time Charter, the vessel is hired for a specific amount of time. The vessel’s owner still manages the vessel but the charterer directs the vessel’s operation, and may sub-charter the vessel.

Informa's Charter-Party guides address the two major forms of charty-parties (Gencon and Asbatankvoy) and the Hague and Hague-Visby Rules.

Marine Insurance

Modern Law of Marine Insurance (Volume 2)
Was: $546.00
Now: $459.00

P&I Clubs Law and Practice (3rd Edition)
Was: $488.00
Now: $423.00

General Average: Law and Practice
Was: $449.00
Now: $378.00

Marine insurance covers the loss or damage of ships, cargo, terminals, and any means by which goods are transfered, acquired, or held between their origin and final destination.¹ The establishment of the Lloyd’s of London insurance market gave English law a prominence which it still holds. Standardization of policies and judicial precedent further developed that body of law, the general principles of which have been applied to all non-life insurance.

In the 19th century, Lloyd’s and the Institute of London Underwriters developed the standardized marine insurance clauses still in use. Parties retain a considerable freedom to contract between themselves within the guidance of these standard clauses. Even still, a marine policy typically covered only ¾ of the insured's liabilities. Shipowners banded together in the 1800s in mutual underwriting ‘clubs’ known as Protection and Indemnity Clubs (P&I Clubs) to insure the remaining ¼ liability.

Partial insurance employs the use of average:

• In the case of a partial loss or emergency repairs to the vessel, average may be declared. Partial loss occurs, for example, when a ship in a strom must jettison certain cargo to protect the ship and the remaining cargo. ‘General Average’ requires all cargo owners to contribute compensation to those whose cargo has been lost or damaged. ‘Particular Average’ is levied on a particular group of owners of a vessel’s cargo owners, not all of them.
• In the case of under-insurance—insuring an item for less than it is worth—average will apply to reduce the amount payable. Generally, the payout will be reduced by the same proportion as the under-insurance.

An average adjuster is a marine claims specialist responsible for adjusting and providing the general average statement. He is usually appointed by the shipowner or insurer.

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