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Arbitrament and bank guarantee necessary to release Russian craft Sarmat-1: Azerbaijani maritime administration

Business Materials 6 February 2009 18:38 (UTC +04:00)

Azerbaijan, Baku, Feb. 6 / Trend /

Sarmat-1 Russian craft was temporary detained in Azerbaijan. It can be released only by the International Sea Arbitration and giving insurance bank guarantee by ship-owner's insurers to the Caspian Sea Oil Fleet, the Azerbaijani State Maritime Administration said on Feb. 6.

Sarmat-1 craft was wrecked 30 miles of Baku in late 2008. It was saved and tugged by the Caspian Sea Oil Fleet's craft to Baku.

Earlier the craft with freight belonging to Navigator JSC was seized. The craft made a trip Astrakhan (Russia)-Enzeli (Iran) with metal production and saw-timber (1655.2 tones).

The craft was seized due to ship-owner's refusal to refund expenses in accordance with the international convention on rescue operations dated 1989. The Caspian Sea Oil Fleet appealed to arbitration to solve the issue.

Presently, the issue is being considered via talks in accordance with the international conventions and experience of insurers both as plaintiff and defendant.

The reason of Sarmat-1 wreck was technical faultiness in steering of the craft. During repair carried out in Baku, other damages as a result of wreck were also removed.

The Rescue Coordination Center situated in Astrakhan received a message about wreck of Sarmat-1 dry cargo ship on Dec. 15. Sarmat-1 dry cargo ship of river-sea type was constructed in 1986. Nobody injured in the wreck.

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