The Madras Chamber of Commerce and Industry organized a significant program titled “Lessons from Baltimore: Risks and Claims” on May 13, 2024. The event centered around extracting key insights from the maritime incident in Baltimore, with a specific focus on risks and claims, drawing comparisons to the Suez Canal blockage. This event was co-hosted by the Association of Multimodal Transport Operators of India and the Federation of Freight Forwarders Association in India.
The keynote address was delivered by Dr. Malini Shankar, IAS, Vice Chancellor of the Indian Maritime University, who emphasized the pivotal role of maritime trade, responsible for transporting 75% of global goods. Dr. Shankar emphasized the critical need for documenting such maritime incidents, noting their frequency and the imperative to learn from them. She stressed, “Maintaining documentation of these incidents is essential for understanding legal and policy implications, safeguarding human interests, and preventing future disasters.”
The panel discussion, chaired by Mr. S N Srikanth, CEO & Senior Partner of Hauer Associates, provided a comprehensive overview of the risks, limitations, and liabilities inherent in the maritime industry. Mr. Amitava Majumdar, Managing Partner of Bose & Mitra & Co., Mumbai, a respected expert on maritime law, discussed the challenges and available solutions for situations akin to the Baltimore incident. Mr. Majumdar highlighted the complexity of international dealings involving multiple agencies, stressing the importance of contractual law understanding for shipping stakeholders to ensure adequate protection.
Mr. Muthu Jagannath, Director of NAU Pte Ltd, Singapore, addressed claims management, advocating for preparedness and robust contingency plans within shipping companies. He emphasized the significance of maintaining strong relationships with all involved parties to facilitate swift and amicable dispute resolutions in emergency scenarios.
The event attracted shippers, exporters, importers, and industry leaders who actively participated in a Q&A session with the speakers. The event was also live-streamed nationwide to engage a broader audience.
The event is available to view on our YouTube channel https://youtu.be/fsCtPZgb8ko
