![\"12-2_insurance_calculations_1\"](\"https:\/\/maritimesa.org\/grade-12\/wp-content\/uploads\/sites\/4\/2016\/11\/12.2_insurance_calculations_1.png\")
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On her voyage from Brisbane (Australia) to Mombasa (Kenya), the bulker Sea Master<\/em> (value $36 million) hits a drifting container that makes a small hole below the waterline in number one hold that becomes flooded. She diverts to Darwin (Australia) where repairs are carried out. The value of the cargo is $100 per ton. The cargo in number one hold is declared unfit for animal consumption and is discharged at Darwin where it will be destroyed. She is ballasted accordingly before resuming her voyage to Mombasa. The entire diversion and repairs cost $1.2 million.<\/span><\/p>\n The container was retrieved by a salvage company and investigations reveal that it had been one of 24 containers lost overboard from the containership Kookaburra<\/em> during a severe storm.<\/span><\/p>\n 1.1\u00a0<\/span> \u00a0What type of insurance covers<\/span><\/p>\n 1.1.1\u00a0<\/span> \u00a0the damage to Sea Master<\/em>?<\/span><\/p>\n 1.1.2\u00a0<\/span> \u00a0the cargo that was in the containers that fell overboard from Kookaburra<\/em>?<\/span><\/p>\n 1.1.3\u00a0<\/span> \u00a0the containers that sank after falling overboard form Kookaburra<\/em>?<\/span><\/p>\n 1.2<\/span>\u00a0 \u00a0The damage to Sea Master<\/em> was caused by a floating container. Whose insurance will eventually pay for each of the following :<\/span><\/p>\n 1.2.1\u00a0 \u00a0<\/span>the damage to Sea Master<\/em>?<\/span><\/p>\n 1.2.2<\/span>\u00a0 \u00a0the damaged the cargo in Number 1 hold aboard Sea Master<\/em>?<\/span><\/p>\n 2.1<\/span>\u00a0 \u00a0Who declares general average? (Owner or Charterer or Agent)<\/span><\/p>\n 2.2<\/span>\u00a0 \u00a0Calculate the portion of the costs that would need to be paid by the shipowner. (The value of the cargo is given, and note that the value of the bunkers aboard is $1.25 million. The bunkers are owned by the shipowner.)<\/span><\/p>\n <\/u>2.3<\/span>\u00a0 \u00a0Now calculate the portion that the cargo owner would have to pay towards the costs of salvage and repair in terms of General Average. We simply substitute the value of the cargo where we have the value of ship as the numerator in the calculation. (i.e. Where we have the figure marked *)<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" On her voyage from Brisbane (Australia) to Mombasa (Kenya), the bulker Sea Master (value $36 million) hits a drifting container that makes a small hole below the waterline in number one hold that becomes flooded. She diverts to Darwin (Australia) where repairs are carried out. The value of the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,20,31],"tags":[],"class_list":["post-158","post","type-post","status-publish","format-standard","hentry","category-12-2-shipping-operations","category-12-2-5-marine-insurance","category-test-yourself"],"_links":{"self":[{"href":"https:\/\/maritimesa.org\/grade-12\/wp-json\/wp\/v2\/posts\/158"}],"collection":[{"href":"https:\/\/maritimesa.org\/grade-12\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/maritimesa.org\/grade-12\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/maritimesa.org\/grade-12\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/maritimesa.org\/grade-12\/wp-json\/wp\/v2\/comments?post=158"}],"version-history":[{"count":2,"href":"https:\/\/maritimesa.org\/grade-12\/wp-json\/wp\/v2\/posts\/158\/revisions"}],"predecessor-version":[{"id":162,"href":"https:\/\/maritimesa.org\/grade-12\/wp-json\/wp\/v2\/posts\/158\/revisions\/162"}],"wp:attachment":[{"href":"https:\/\/maritimesa.org\/grade-12\/wp-json\/wp\/v2\/media?parent=158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/maritimesa.org\/grade-12\/wp-json\/wp\/v2\/categories?post=158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/maritimesa.org\/grade-12\/wp-json\/wp\/v2\/tags?post=158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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![\"12-2_insurance_calculations_2\"](\"https:\/\/maritimesa.org\/grade-12\/wp-content\/uploads\/sites\/4\/2016\/11\/12.2_insurance_calculations_2.png\")
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