After the tragedy of the passenger ferry SEWOL a second tragic incident occurred to a Korean ship this year.
52 of the 60 crew members of the South Korean stern trawler ORYONG 501 are still missing after her sinking off the Russian peninsula of Chukotka. The crew consisted of 11 nationals from South Korea, 13 from the Philippines, 35 from Indonesia and one inspector from Russia.
Under standard crewing contracts the Korean ship owner / manager Sajo Industries Co., Ltd. and their liability underwriters Korean Shipowners P&I may face crew claims in the region of USD 3 to 4 million, however, as Korea is a signatory to the London Limitation Convention of 1976 the ship owner may limit his liability under Article 6 to SDR 1,158,500 for crew claims exclusively plus on a pro rata basis with any other liability claims to SDR 442,717 making in total SDR 1,601,217 being equivalent to approximately USD 2 million. This calculation is based on the vessel’s gross tonnage of 2,151.
We are ready to assist the families of the missing seafarers to recover a best possible compensation under the terms of the crewing contracts.
Feel free to contact us any time for further advice or assistance.