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ACQ 2016-1

Logging trade

We have experienced on several occasions that owners describe their vessels as general cargo, bulk vessel when seeking quotes from Hull and P&I insurers. Many owners are not aware of the importance to advise insurers the vessel will be carrying logs even if this trade is infrequent. Vessels which engage in the logging trade is a very different risk to the insurer and non disclosure of this information may enable the insurer to decline any claims which may be attributable to the vessel carrying logs.