Vessel inspections crucial, warns ITIC

The importance of in-depth and precise pre-management vessel inspections as part of a ship manager's business risk strategy prior to taking on a vessel has been highlighted by International Transport Intermediaries Club. The professional indemnity insurer has noted that it has taken on numerous claims in recent months related to vessel condition and alleged poor vessel management, which has resulted in ship managers facing major repair costs that could have been avoided had a comprehensive inspection been undertaken prior to, or as close as possible to, commencing management services.