International Transport Intermediaries Club (ITIC) News

A single technical error by an uninsured subcontractor has resulted in a US$70,000 settlement and prompted the International Transport Intermediaries Club (ITIC) to warn ship surveyors of the financial exposure they face when relying on third-party data without contractual protection. The dispute arose after a marine surveyor was appointed by a prospective buyer to confirm that a commercial fishing vessel met the requirements of the relevant maritime safety authority. As part of the survey, the...

A phishing scam targeting a yacht broker during a high-profile Mediterranean charter resulted in a €58,000 loss, but thanks to the swift intervention of the International Transport Intermediaries Club (ITIC), the broker has been fully reimbursed. The yacht broker, who was tasked with managing charter hire payments between the charterer and the yacht’s owner, became a victim of a sophisticated fraud scheme. Once the charterer had made a payment, the yacht broker was approached by some...

In a complex case highlighting the risks ship managers face from legacy vessel issues, the International Transport Intermediaries Club (ITIC) has successfully resolved a US$6 million claim against a ship manager for only a fraction of the original demand. The ship manager took charge of a ship over 12 years old under a SHIPMAN contract, albeit for just a short six-month duration. Despite the brief tenure, the manager faced a substantial claim alleging failure to identify and address pre-existin...

A routine ship on a special call, outside the normal liner schedule, turned into a costly oversight for a liner agent, resulting in unexpected expenses of US$135,000 – ultimately reimbursed by the International Transport Intermediaries Club (ITIC). The incident began when a liner agent received advance notice of an inbound vessel scheduled to make a special call outside the regular service pattern. Ship’s arrival at the discharge port Line informed the agent of a three-day delay i...

In a recent case underscoring the essential nature of precise cost estimation in maritime logistics, ITIC (International Transport Intermediaries Club) has settled a US$140,000 claim resulting from an error in calculating port charges. The incident involved a South American grain shipment where the pool manager’s use of outdated cost estimates for port fees led to a substantial financial discrepancy. A pool manager organised a ship to load a cargo of grain at a South American port. Using...