The HYUNDAI FORTUNE casualty in March was one of the most serious containership mishaps in recent years. Explosions ripped apart the 5551 TEU vessel, and the ensuing blaze took salvors more than a week to extinguish.The stern part was almost totally destroyed, while the vessel’s hull was holed.The vessel, built in 1996, had a hull and machinery insured value of US$70M, with cargo claims expected to exceed US$300M.
There was widespread initial speculation as to the cause of the powerful explosion that started the destruction, a cargo of fireworks and terrorist action being among them.When known, the real cause may be far less sinister. Mutual insurer TT Club, which covered the majority of containers on board, estimated that at least 500 had been destroyed....
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This complete item is approximately 2200 words in length, and appeared in the May 2006 issue of WorldCargo News, on page 67.
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