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Member, Beacon International Group, Ltd.
CAPE TOWN, South Africa--Salvagers were attempting to rescue a damaged ship Friday off the coast of South Africa under a contract by the Steamship Mutual Underwriting Assn. Bermuda Ltd.
The Cape Africa--which is owned by the Taiwanese shipping firm U-Ming Marine Transport Corp., based in Taipei, Taiwan--was south of Cape Town, South Africa, Monday en route from Brazil to Japan in heavy seas when a gash formed in its bow, according to reports.
The 18 crewmembers were airlifted to safety in two groups, and the ship was under tow with a hole measuring 66 feet long by 6.5 feet high in its hull, reports said.
The Steamship, a protection and indemnity club has confirmed that it covers the 150,000-ton ship for third-party liabilities.
The mutual has also confirmed that the ship is carrying a cargo of iron ore and that the Cape Town-based salvage firm SMIT Marine South Africa (Pty.) Ltd. has been awarded a Lloyd's open-form salvage contract. The ship was also carrying about 1,800 tons of fuel oil, according to reports.
SMIT declined to comment.
Sources in the market suggested hull insurance for the 12-year-old vessel, which they estimated to be worth $23 million to $24 million, may have been placed in local Asian markets.