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SOCAR releases statement on arrest of Russian ship in Azerbaijan

07 February 2009 08:59 (UTC +04:00)

Russian dry-cargo vessel Sarmat-1 in distress in the Azerbaijani sector of the Caspian Sea was towed to Bayil Shipyard n Baku on Dec. 15.
The ship was in danger of sinking because the steering room was filled with water coming through smashed splashboard.
The SOCAR said in a statement that Baku Economic Court II passed a decision to put a temporary arrest on the ship after negotiations between Russiaâ€™s Navigator and SOCARâ€™s Caspian Sea Oil Fleet on the payment of a reward for the salvage expenses were stalled.
According to the statement, the salvage expenses were not paid because the ship owner, upon several pretexts, didnâ€™t submit necessary documents related to the salvage operation (insurance documents of the ship and cargo on board) and delayed the conclusion of the salvage agreement.
Under the International Convention on Salvage, IMO 1989, a "special compensation" is to be paid to salvors who have failed to earn a reward in the normal way (i.e. by salving the ship and cargo).
Azerbaijanâ€™s Caspian Sea Oil Fleet turned to the UK-based Hill Dickinson law firmâ€™s office in Greece for arbitral proceedings at the International Maritime Arbitration after the ship owner didnâ€™t agree to its claim to pay the special compensation for the salvage operation expenses.
According to the court decision passed in Baku Economic Court II, the ship will be hold in a temporary seizure until the dispute is arbitrated because the insurance company for the ship owner refused to provide the necessary bank guarantee.
The statement said the lawyers of the parties were discussing issues related to the salvage operation under the International Convention.

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SOCAR releases statement on arrest of Russian ship in Azerbaijan

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