We have received reports that the " SUN PEONY ", a 1998 built product tanker flying the Korean flag, has required LOF salvage services which were provided by international salvors Ardent.

The vessel has also declared General Average. Some of the cargo of Xylene was jettisoned, as the freeboard had significantly decreased due to entry of seawater into ballast tanks and other spaces.

LOF was terminated on the 2nd January but there will be a claim for salvage under Lloyds Open Form, which will be subject to English law and London arbitration.

The vessel is carrying a cargo of a number of parcels of chemicals loaded in Thailand. It was bound for Ulsan in Korea, Chinese mainland ports and Mailiao in Taiwan.

We are already representing cargo in respect of this casualty. The claim for recovery from the shipowners of any sums that have to be paid to Salvors (and any claim for jettison of cargo) will be subject to English law and jurisdiction under the bs/l.

Notwithstanding the appointment of GA Adjusters in Korea by the shipowners, we believe the claim for General Average will be subject to English law and London arbitration.

So far as any recovery is concerned, we have identified the vessel's P&I Club.

If your own guarantees are not acceptable to salvors we can also assist you in arranging salvage security to secure any salvage claims, with a bail fee from 0.5% of the guarantee amount.

If you would like assistance in dealing with any claims for salvage, potential GA claims and recovery of your losses, please do contact us.

Details

Vessel: "SUN PEONY"

Casualty date: 1st January 2017

Casualty type: Water ingress/cargo jettison

Vessel type: Product Tanker

Year built: 1998

GRT:5483

Voyage to/from:Thailand to Korea, China and Taiwan

Cargo: Chemical cargoes – Xylene, Phenol and DEG

Vessel IMO number: 9191230