The shipping industry provides lucrative and satisfying careers for a great number of people, including ship owners and builders, hull insurers, cargo owners, and many others. Unfortunately the involvement of these many different parties can lead to legal disputes in a wide variety of different situations. That’s where maritime lawyers in Singapore come in. Read on to find out more about just a few areas that are covered by maritime law.
The volume of cargo that is transported by ship in today’s world is incredible, particularly along busy trade routes. In combination with often unpredictable weather patterns, this creates uniquely high-risk situations for individual ships. When even a minor accident occurs, it can place both the safety of the ships workers and the reputation of its crew at risk. Whether the accident involves a fire, a collision, or even unanticipated pollution of the surrounding waters, a maritime lawyer can help sort out the situation and ensure the best possible results for their clients.
Freight claims, also known sometimes as damage claims, shipping claims, or cargo claims, come up more frequently than the uninitiated may assume. These claims generally involve recovering losses on behalf of the person or corporation who has lost revenue due to lost cargo. Whether the client is looking to issue a claim or looking to defend the shipping company against one, it’s important that he or she get in touch with a maritime lawyer as soon as possible to begin putting together a case.
Financing and Expansion
It’s tempting to assume that the only time a ship’s owner, insurer, or financial backer would seek the advice of a maritime lawyer would be during times of financial hardship or other duress. This is not always the case. During times of expansion and growth it is equally important to have a trustworthy maritime lawyer who can help evaluate contracts and negotiate terms of financing. This includes the sale of ships, the purchase of ships, syndicated financing, refinancing, and more. It’s important to seek out legal advice prior to signing any kind of contract. The sale or financing of a ship should be mutually beneficial to all parties. Hiring a lawyer helps to ensure that it will be.