UK Club Webinar (Series 11): Salvage, Scopic and everything that doesn't float
The full video can also be viewed on our Vimeo page.
The UK P&I Club recently held a webinar on the subject of salvage and wreck removal.
The Webinar was a great success with more than 1200 registrations from all over the world.
To discuss the various issues, the panel composed of Alan Speed, Senior Claims Director of the UK P&I Club, David Handley, Senior Associate with Watson Farley and Williams and Adrian Scales, Director with Brookes Bell. The webinar was moderated by Capt. Anuj Velankar of the UK P&I Club.
The Webinar looked at three main aspects of marine salvage and wreck removal:
- The use of Lloyds Open Form (LOF) – The panel discussed why there was a drop in the use of the LOF in salvage work and if this was a result of the hesitancy to use the LOF with salvors, insurer or the maritime community. The panel looked at various scenarios where vessels may be asked to sign an LOF.
- The use of SCOPIC – The panel discussed how and why a salvor may invoke Scopic when signing on a LOF. The significance of SCOPIC under Article 13 & 14 awards of the international salvage convention was discussed.
- Wreck Removal- Finally the panel discussed the progression from a salvage operation to a wreck removal operation. The involvement of various insurers and the practical effect of various parties were discussed.
The highlight of the webinar was the use of polls at the start and end of the webinar in which the audience were shown three scenarios and asked to vote on which of the scenarios (if any) they would wish to use the LOF. There was a marked increase in the willingness of the audience to use the LOF during the conclusion of the webinar.
The extensive interaction and feedback suggested that the webinar was well received, and the audience benefitted from a better understanding of salvage and wreck removal issues.
Captain Anuj Velankar
Senior Loss Prevention Advisor (Singapore)
You may also be interested in:
On 1 February 2021, the Singapore parliament passed the Electronic Transactions (Amendment) Bill2 which adopts the UNICTRAL Model Law on Electronic Transferable Records (“Model Law”), with certain modifications.
This UK P&I Webinar discusses various scenarios that might develop during the carriage of IMSBC Group A Cargoes and their associated risks.