This document discusses 4 cases related to risk management in carriage by sea. Case 1 involves a $1.6 million claim and discusses responsibilities of the shipowner, charterer, consignee and insurers. Case 2 involves damage to a cargo of glass being transported from Turkey to Ukraine. Case 3 discusses a missing cargo of wheat shipped from Ukraine to Egypt. Case 4 describes demurrage issues when a vessel transporting steam coal from Ukraine experienced delays due to sudden winter conditions.

1. RISK MANAGEMENTin carriage by sea Nikolay Melnykov Arthur Nitsevych

2. Case 1 Кто виноват и что делать?

3. Port of loading Pto.Bolivar, Ecuador B/L Clean on board

4. Port of discharging Ilyichevsk, Ukraine

5. Charterer Shipowner Consignee

6. Total amount of claim$1.600.000

7. Shipowner Lawyer

8. Shipowner Cargo Insurer

10. Charterer Shipowner Cargo Insurer Lawyer Consignee

11. ? Demurrage…

12. Case 2 Total glass…

13. Vessel:Bulk Cargo:Glass Port of loading: Izmir, Turkey Port of discharging: Odessa, Ukraine Conditions: FIOS

14. Nice to meet you again, friends!

15. Charterer Shipowner Consignee

17. FIOS! Charterer Shipowner Consignee

18. Cargo Insurer P&I Insurer Shipowner Lawyer Consignee

19. DAMAGE DEDUCTIBLE

20. Case 3 Where is my cargo? (А был ли … груз?)

21. Vessel:Bulk Cargo:Wheat Consignee: to order Port of loading: Kherson, Ukraine Port of discharging: Izmir, Turkey Loading: OK Demurrage: NO

23. 3-6 months later…

24. Where is my CARGO?!

25. Vessel:Bulk Cargo:Wheat Consignee: Ela&Co., Egypt Port of loading: Kherson, Ukraine Port of discharging: Alexandria, Egypt

26. Письма из портов погрузки и выгрузки Копия официального коносамента Выписка из судового журнала Копия чартера Подтверждение получения фрахта от фрахтователя Подтверждение реального грузополучателя о получении груза Lawyer

27. Case 4 Sudden..sudden winter …

28. Please find our recap as fiollows: MV ************** OR FULL SISTER SHIP IN OO FLAG - COMOROS DWT - 12,062 MT / DWCC 11500 MT BUILD 1975 / JAPAN LOA - 128.77 M / LBP 120 M / BEAM - 19.60 M / DRAFT- 8.25 GRT - 6,997 / NRT - 4,088 SID / IMO FITTED / STEELFLORED / GEARLESS B/C WITH TOP AND BOTTOM SIDE TANKS DECK CARGO HOLDS / HATCH DIMENSIONS: GRAIN/BALE CAPACITY CBM ============================================== NO1 -24.00 MX16X9 - 20.00 X 9.75 3854/3744 NO2- 38.00 MX19X8,5 - 34.00 X 9.75 6331/6224 NO3- 24.00 MX15X8,5 - 34.00 X 9.75 3950/3873 TOTAL M.CUB 14134/13842 -SUB STEM TO BE LIFTED UNTIL 12:00 MOSCOW TIME 26.11.2009 AFTER FINALIZING RECAP - ACCOUNT SANTOLINA CONSULTANTS INC. El Dorado Building, 2^nd floor, Elvira Mendez and 52^nd streets, Panama, Panama BNP PARIBAS (SUISSE) SA, Geneva Swift, BIC BPPBCHGG; clearing 8686 General account 85743-9 USD account 85743/1V IBAN CH73 0868 6001 0857 4300 1** -CARGO: 10'500 MT AS MIN UPTO VSL' FCC +/-10 PCT MOLOO OF STEAM COAL STW MAX 43' -PERFORMING VESSEL HAS TO BE IN EVERY RESPECT SUITABLE AND READY TO LOAD, CARRY AND DISCHARGE CONTRACTED CARGO; VSL IS FREE OF ANY DEBTS -MARIUPOL / VARNA 1/1 GSPB AAAA BE -L/C 14-18 DEC 2009 -0800/1400 CLS TO APPLY - VSL ACCEPTED AS GEARLESS BENDS -MASTER HAS RIGHT TO TENDER NOR EVEN VIA CABLE/RADIO/VHF W/W/W/W 2PM/8AM CLS BE. -MASTER/OWNER HAS TO SEND 4/3/2/1 NOTICES PRIOR ARRIVAL AT POL AND POD -LOADING 6000 MT PWWDAYS OF 24 CONS HRS SSHINC - DISCHARING 5000 MT PWWDAYS SATSHEX UU, time from Friday 17:00 or day preceeding legal or local holiday until Monday 08:00 or day after -HOLIDAYS AS PER LOCAL CALENDAR -FRT USD 15,00 PMT BSS FIOS -FRT TO BE PAID 100 PCT LESS COMM ONLY W/I 1 BDAY AFTER S/RELEASING ORIGINALS BS/L MARKED 'FRT PAYABLE AS PER C/P DATED___' , TO OWNERS NOMINATED BANK ACCNT IN USD CURRENCY -FULL FRT TO BE DEEMED EARNED, DANRVAOCLONL -OWNERS TO CLARIFY THEMSELVES PORT RESTRICTIONS/REGULATIONS -DEBALLASTING TIME IF ANY NOT TO COUNT AS LAYTIME -TIME USED BEFORE L/C IF ANY NOT TO COUNT -DEMM USD 6000 PDPR/FD BE - DEMM IF ANY WILL BE SETTLED W/IN 7 DYS AFTER OWS PRESENTATION OF SOF/NOR/TS/ETC BENDS BY FAX -CHAGENT BENDS -LGENT Azov Bulker Contact tel. 380 952 902 665 e-mail: tsbalker@email.com.ua Contact person: Dmitriy Svechkaryov - DGENT ARGO MARITIME AGENCY 14, Alexander Malinov Str. Office 6, 2nd floor 9000 Varna, Bulgaria Tel.+359 52/ 606177, 606178 Fax:+359 52/ 664800 Mobile:+359 887 243449 -TAXES/DUES ON VSL/FLAG/CREW TO BE OWNER'S ACCNT Vessel:Bulk Cargo:Steam coal Port of loading: Mariupol, Ukraine Laydays: December 14-18 Demurrage: USD 6000 PDPR NOR: OK

30. WAITING FOR TURN 3 DAYS WAITING TO GO TO FREE BIRTH 3 DAYS TOTAL WAITING ON ROADS: 6 DAYS DEMURRAGE $42,000

31. CHARTERER’S POSITION NO DEMURRAGE BECAUSE…

32. FORCE MAJEURE ? DISPUTE ARBITRATION

33. IFTHE CHARTER CONTAINS: In case of ice condition NOR to be tendered/accepted from edge of ice or place of forming ice-convoy but time lost for proceeding to port not to count as laytime. AND/OR Time lost for waiting of ice-breaker assistance to be for charterers account

34. HAPPYNESS!