MCCI holds instructive deliberation on lessons from the Baltimore incident
The Madras Chamber of Commerce and Industry (MCCI) organised an important deliberation on “Lessons from Baltimore: Risks and Claims" on May 13, 2024. The event centred around extracting key insights from the maritime incident in Baltimore, with specific focus on risks and claims, drawing comparisons to the Suez Canal blockage. The event was co-hosted by the Association of Multimodal Transport Operators of India (AMTOI) and the Federation of Freight Forwarders’ Associations in India (FFFAI).
The keynote address was delivered by Dr Malini Shankar, IAS, Vice Chancellor of Indian Maritime University, who emphasised the pivotal role of maritime trade, responsible for transporting 75% of global goods. She stressed on the critical need for documenting such maritime incidents, noting their frequency and the imperative to learn from them. “Maintaining documentation of these incidents is essential for understanding legal and policy implications, safeguarding human interests, and preventing future disasters," she pointed out.
The panel discussion, chaired by Mr S. N. Srikanth, CEO & Senior Partner of Hauer Associates, provided a comprehensive overview of the risks, limitations and liabilities inherent in the maritime industry. Mr Amitava Majumdar, Managing Partner of Bose & Mitra & Co., Mumbai, a respected expert on maritime law, discussed the challenges and available solutions for situations akin to the Baltimore incident. He highlighted the complexity of international dealings involving multiple agencies, stressing the importance of contractual law understanding for shipping stakeholders to ensure adequate protection.
Mr Muthu Jagannath, Director of NAU Pte Ltd, Singapore, addressed claims management, advocating for preparedness and robust contingency plans within shipping companies. He emphasised the significance of maintaining strong relationships with all involved parties to facilitate swift and amicable dispute resolutions in emergency scenarios.
The event attracted shippers, exporters, importers and industry leaders who actively participated in a Q&A session with the speakers. The event was also live-streamed nationwide to engage a broader audience, said a release.
Source: Exim News Service: Chennai, May 15