Phuc Thuan 36

* We have received reports that bulk carrier, PHUC THUAN 36, experienced a shift of cargo on 7 July 2021 and subsequently developed a severe list to port whilst in a position east of Haikou, Hainan Island.

* Because of the seriousness of the list, the crew abandoned the vessel and it appears that the vessel was then taken under tow to Qinglan, China as a port of refuge.

* We understand that shipowners have declared General Average as a result of the extraordinary costs incurred as a result of the casualty. Consequently, General Average security will be required from all Cargo Interests prior to the delivery of their cargo and we will be able to assist in that regard. It is not yet clear whether there will be a separate claim in salvage.

* The extent of any cargo damage also remains unknown, but some degree of damage seems inevitable and so recovery issues will also arise.

* We recommend that you contact us urgently if you are concerned with any cargo on board this vessel so that we can immediately start taking steps to protect your interests.