Aigaion has to follow Lloyd’s

ALondon court has ruled in favour of the owner, manager and mortgagee of the 15,134-St.Efrem (built 1977) in a dispute arising from the grounding of the vessel offBrazil.

TheSt. Efrem owned by San Evans Maritime, managed by Livanbros Maritime andmortgaged to Mrs Chariklia Livanou was insured for $3.8m with 50% of the coverwritten by the Catlin, Ark and Brit syndicates at Lloyd’s

Afurther 30% of the vessel was covered by Aigaion Insurance, an Athens basedmarine underwriter, with the remaining 20% interest uninsured.

Followingmechanical