Insurers expect claims worth hundreds of millions of dollars from container ship fire

Insurers are likely to receive claims worth hundreds of millions of dollars related to the fire-damaged container ship Maersk Honam, The Loadstar reported. Denmark-based shipping conglomerate A.P. Moller - Maersk A/S has declared general average under which all losses, including salvage, port and transfer costs are shared between surviving cargo owners. The ship caught fire on March 6 in the Arabian Sea en route to the Mediterranean via Suez.

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