Rise Shine

------------------UPDATE-------------------

24 November 2021

* Further to our first Report below, we have received reports that salvage services are to be rendered to the vessel and that the vessel likely requires significant repairs to be effected as a consequence of the grounding.

* Shipowners have declared General Average as a consequence of the extraordinary costs incurred for the safety of the common maritime adventure. Consequently, GA security is required from all Cargo Interests prior to the delivery of their cargo and we are likely to be able to assist in that regard.

* Recovery issues may also arise in respect of any physical loss or damage to cargo and/or delay in the delivery of cargo to destination arising as a consequence of the casualty.

* We are currently instructed by certain cargo insurers and we are liaising with the nominated Average Adjusters as to the terms of the GA security to be provided. We may therefore be able to offer certain economies of scale in respect of any third party costs which may need to be incurred in investigating the cause of the casualty and the extent of damage to the vessel.

* We therefore suggest that you contact us urgently if you are concerned with any cargo on board this vessel so that we can immediately start taking steps to protect your interests.

------------------ORIGINAL-----------------

* It is reported that general cargo ship, RISE SHINE, dragged its anchor whilst at anchor in Vostok Bay and later ran aground near Cape Kozin, Russia on 09 November 2021.

* it is reported that the vessel's hull was breached and the engine room was flooded as a result of the grounding.

* A tug has been deployed to the vessel to assist, although weather forecasts predict that the weather in the region will deteriorate.

* It is possible that General Average / Salvage and Recovery issues may arise as a result of this casualty.

* We therefore recommend that you contact us urgently if you are concerned with any cargo on board this vessel so that we can immediately start taking steps to protect your interests.