{"id":5088,"date":"2016-09-08T12:42:58","date_gmt":"2016-09-08T18:42:58","guid":{"rendered":"http:\/\/traderiskguaranty.com\/trgpeak\/?p=5088"},"modified":"2021-07-14T12:50:57","modified_gmt":"2021-07-14T18:50:57","slug":"general-average-msc-sabrina-story","status":"publish","type":"post","link":"https:\/\/traderiskguaranty.com\/trgpeak\/general-average-msc-sabrina-story\/","title":{"rendered":"A Story of General Average and the M\/V MSC Sabrina"},"content":{"rendered":"

It can be difficult to understand the concept of General Average in international trade, especially when you have not yet experienced this type of claim for yourself. Read this real-life example of General Average to understand the unexpected dangers of trade.<\/h3>\n

In March of 2008, the M\/V MSC Sabrina<\/a> ran aground in the St. Lawrence River near Trois-Rivi\u00e8res, Quebec, Canada. Tugboats made initial attempts to free the vessel, but they were ultimately unsuccessful as the 243-meter container ship<\/a> had become stuck in two feet of clay.<\/p>\n

In order to rescue the ship and her US$100M worth of cargo, a plan was prepared by Mediterranean Shipping Company to lighten the load and free the M\/V MSC Sabrina from the clay. However, before the plan could be put into action, it would need to be submitted and approved by Transport Canada and the Canadian Coast Guard. The entire process left the ship stranded in the St. Lawrence River for a total of one month.<\/p>\n

The Rescue Plan<\/h4>\n
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  1. M\/V MSC Jasmine arrives on the scene with it’s own onboard cranes to unload approximately 400 containers in an attempt to lighten the M\/V MSC Sabrina and refloat her.<\/li>\n
  2. The M\/V MSC Jasmine unloads cargo from the M\/V MSC Sabrina through the night.<\/li>\n
  3. Wait for high tides and freshnets to come in the river to aide in the re-floating process.<\/li>\n
  4. The M\/V Ocean Delta and four other tugboats pull the M\/V MSC Sabrina free from the mud.<\/li>\n<\/ol>\n

    A Successful Rescue<\/h4>\n

    The rescue plan from Mediterranean Shipping Company was a complete success with the safe recovery of the M\/V MSC Sabrina and all of her cargo. The ship finally reached its port of destination on April 4, 2008. This is not only an example of a great rescue operation, but it is also a cautionary tale of how unpredictable international trade can be.<\/p>\n

    After spending a month stuck in the hard clay at the bottom of the St. Lawrence River, the ship’s owners declared General Average<\/a>.<\/p>\n

    See Pictures as the Story of the M\/V MSC Sabrina Unfolded<\/h4>\n\n\t\t